cryptocurrency
Cryptocurrency

Shiba Inu Price December 2022 Prediction

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With the crypto markets still in red, most investors are now trying to estimate the Shiba Inu price December 2022 prediction.

Shiba came into the limelight in 2021 due to its huge price rallies. Soon thereafter, it becomes among the top 20 cryptocurrencies in market valuation.

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This happened in October 2021 after the coin hit an all-time high. However, since this success, the coin has been on a free-fall to date. With the price trading at an average of $0.00001, it represents over 80% fall from its high.

Ongoing Bear Market

The ongoing cryptocurrency selloff is not an isolated market occurrence as other markets such as both forex and stock are going through a similar experience.

With the current bear market, some analysts are predicting an imminent recession. If this comes true, the selloff in the financial market could continue until investors have the confidence to put back their money.

These low prices have left Shiba investors wondering whether the coin will ever go back to its glory days and what the Shiba Inu Price December 2022 prediction is.

Shiba Price Prediction

There are some indicators the current price fall could be coming to an end. This could give way to a long period of consolidation that could extend up to the fourth quarter.

Such conditions make investors take a wait-and-see approach to see what happens in the macro-environment before getting in the market again. Some of the macro issues to consider include both inflation levels and interest rates.

If there is a sign of lowering of inflation levels, optimism will likely come back in the markets. This could trigger another buying frenzy.

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Based on the past price performances, Shiba could quickly gain its lost ground in a matter of days pushing it to the previous highs.

However, that is on the optimistic side. If the factors remain the same with high inflation levels or a recession happens, the price, could stagnate at current levels or go lower towards the end of the year.

Conclusion on Shiba Inu price December 2022 prediction

The technical signals show a coin that is ready for an upside rally. However, the fundamentals remain shaky. Despite these factors, there is optimism in the market that another bull run is imminent.

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