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Analysts predict 2022 could be a better year for Shiba Inu Coin than 2021. This year, the coin has been one of the most successful cryptocurrencies having taken the 12th position as the largest coin in the market.
Since the last rally, the coin has been struggling to get back to its peak with the selling momentum persisting. However, this could change in the new year due to various market factors.
As we head into the last days of 2021, there are signs of a building bullish momentum. An example is the recent 30% price jump after the coin was listed on the Kraken platform. It is an indicator that buyers are ready and waiting for the right signal to get into the market.
Growth in Cryptocurrency Popularity
The Crypto industry continues to expand at a fast pace. Initially, not many people knew about it, and those who did never understood it well. However, this is changing as more people become aware and curious about the industry.
This growth is attracting media attention helping to spread awareness further. With the increasing popularity, the list of investors is growing as well.
It is this popularity that has seen coins such as Shiba Inu get over a million investors within less than 2 years. As we head into 2022, this can only increase as more investors, regulators and partners focus more on these financial assets.
This will bring demand and liquidity into the market helping the coin to rise further.
The Rising Inflation levels
As the high inflation levels of 2021 threaten to spill over to 2022. Investors will continue investing in deflationary assets such as cryptocurrencies.
High inflation levels have been a key contributor to the rise of crypto assets this year. In such a run, the main beneficiaries are the top coins. Being among the top 20 coins in the market, Shiba Inu is set to benefit immensely.
The Growth of cryptocurrencies is also taking the market away from the traditional hedging assets such as gold and silver. It is a sign of market acceptance and confidence in the capabilities of cryptocurrencies. Hence, they can only grow in the future.
Shiba Metaverse Venture
The recent Shiba announcement of venturing into the metaverse world is already creating market excitement. This comes just at the right time when the metaverse industry is starting to take off. Shiba is planning to use this concept in developing its first decentralized games known as Shiboshis games.
To speed up the project, the network is hiring David Volk who is a gaming development professional with experience spanning over 30 years. For a long time, the metaverse technology has largely been in theory.
However, some decentralized platforms such as Decentraland (MANA) and Sandbox (SAND) are also striving to take the market leadership.
Although there is no clear timeline to when the first games will be ready, analysts predict we could see their introduction in 2022.
Shiba Inu Coin in 2022
A combination of these factors will likely drive Shiba’s price higher in the coming year. This could see the coin creating new highs and adding more investors.
Always remember that investing in cryptocurrencies requires adequate market knowledge and risk management skills.
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