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Two weeks to the end of the year, Shiba dropping zero within the remaining days remains a possibility. The coin is famous for its huge rallies that are capable of pumping the price by up to 500% in a few days.
Although this probability is going down as the end nears, there is still a chance this could become a reality.
Since the coin hit an all-time high in October, it has been on a bear trend losing at least 60% from its peak. This fall has also reduced its market value and taken away its place in the top 10 largest cryptocurrencies list.
Despite this fall, the coin remains among the most popular currencies in the market and is still attracting huge transaction volumes.
Currently, it has over 1 million investors with the buildup accelerating quickly.
Demand is a key element in driving the price of such financial assets. For Shiba to lose a zero soon, the price needs to grow at least 300% from its current $0.000033.
One of the ways to achieve this is through increasing demand from both retail and institutional investors. This is already happening with current news of whale traders buying spree.
In the last month, reports indicate millions of dollars worth of Shiba transactions have been carried out. The latest whale purchase came from Hulk with an 8 trillion tokens purchase worth over 250 million dollars.
It is just a matter of time before the whale activity catches up with retail traders. The combination of both the large-scale transactions with the increasing number of retail traders has the potential of triggering a rally the could have the Shiba Inu coin losing a zero.
Major Trading platforms listing
Listing of financial assets such as Shiba in major exchanges usually causes them to rally. This was the experience when the coin was listed in some exchanges such as Binance and Kraken.
With the transaction volumes growing, most platforms are rushing to list so as not to miss the benefits such as trading commission and interest.
The listing makes the coin accessible to more investors who in return are key in driving its price higher. The recent major listing was on Kraken. Immediately after the listing, the coin had a 30% rally in a day.
The remaining major platform to list Shiba is Robinhood. Although rumors of this happening keep coming up, it Is yet to happen. The platform still insists it is not yet ready to have Shiba available.
However, in case this happens by the end year, it could drive the coins price higher increasing the likelihood of dropping a zero.
Shiba Metaverse Investment
Shiba has announced plans of venturing into the metaverse gaming industry. The metaverse technology is gaining popularity with investors rushing to get a piece of the market.
Through metaverse, Shiba is planning to launch its Shiboshi games that will rely on the Shiboshis NFTS. These NFTs came online in mid-October and are being actively traded in the market.
Metaverse is a new concept and hence the growth opportunities are immense. This is bullish news in the market and could be among the triggers driving Shiba to drop a zero.
Future of Shiba Dropping Zero
The chances of Shiba dropping zero remain high as we head towards the end of the year. Although the coin is in red, there are adequate signs that support a potential reversal.
With these supporting factors such as increasing demand, listing on major platforms, and venturing in the metaverse, it is only a matter of time before the coin rallies.
This could happen at any moment in the future. with still 2 weeks before the year ends, you can’t write the coin off yet. The chances of dropping zero remain.