The price performance of the Shiba Inu (SHIB) throughout 2022 was not something you want to see as an investor. As we have also reported as Kriptokoin.com, the massive crashes in the cryptocurrency markets have led to numerous consequences for some altcoins and recovery seems unlikely. However, losing hope is not something you want to do when holding cryptocurrencies. Especially if there are some possibilities that could lead to a trend reversal in 2023… Here are three possible scenarios for the Shiba Inu.
1-Speculative investors
One of the Shiba Inu’s biggest problems was the large number of speculative investors who dragged the asset’s value down as SHIB tried to pick up momentum. With so many “free” tokens in circulation, the selling pressure on the Shiba Inu was growing exponentially for almost no reason. However, during the year, the majority of short-term investors left the network, with only private investors, to hold the meme coin, which could become the deciding factor in 2023.
2- New user and investor entries
After the FTX boom, the Terra crash, and other events in the industry, institutional investors have clearly left the cryptocurrency market, considering the lack of regulation and the uncertain future of the entire market. Fortunately, the situation may change in the new year as financial regulators are actively working on new rules for the cryptocurrency industry. With the new wave of institutional assets, tokens like Shiba Inu could participate in the market-wide rally.
3-SHIB investors are shorting the altcoin
It’s no secret that the Shiba Inu is one of the most actively sold assets on the market. The majority of analysts and investors are shorting the token with everything they own. In retrospect, it was a wise decision to bet on the drop of the token. However, we can see the reverse effect of these actions as soon as most of the current shorting volume is absorbed by the large buying volume. This causes a short squeeze followed by a recovery rally.
Besides all this, the downward momentum in the price of the popular meme coin still continues. When we look at the price performance of the last year, it is seen that SHIB has experienced a decrease of approximately 75.8 percent. However, many coins in the cryptocurrency markets have already fallen close to these percentages in the last year. Meme coin has lost about 2.9 percent in the last week, while it has dropped about 2 percent in the last 24 hours. Its price is currently trading at $0.00000809.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.