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With Shiba Inu recent price averaging $0.000010, many analysts are predicting the previous selling momentum could be losing power.
There are no doubts cryptocurrencies have been among the most affected assets in this bear market with the drop hitting both the major coins and smaller ones such as Shiba.
However, the market has its rules and there is some optimism that prices are now stabilizing presenting an opportunity for buyers to come back in.
Shiba All-Time High
A year is barely gone since Shiba Inu Coin hit an all-time high of $0.00008 in October 2021. This was a monumental achievement that saw the coin join the list of the top 10 largest cryptocurrencies in total market valuation.
However, the price today remains a shadow of this success with the market valuations dropping from $41 billion to the recent $5 billion.
To investors, the all-time high is a good reminder of the coin’s capability and also gives hope it could rise back to its previous high.
For this to happen, the price fall has to stabilize as it is happening now and then hope buyers will come in in adequate numbers to push it higher.
The first step of price stabilization is already happening as the fall seems to have stopped. As an investor, this is the first indicator to prepare yourself to buy. This is because an influx of buyers could cause the price to shoot back.
Any rise to the previous high will see investors gain over 800% from the current price levels. Hence, if you are a strategic risk-taker, Shiba Inu recent price presents an opportunity to buy.
Despite the fall, Shiba developers continue with full-speed development of value-adding innovations such as the Shibarium.
This will be a game-changer as it will allow the network to operate on its own layer 2 blockchain. Getting shibarium will allow Shiba to unleash its potential in a big way through acceleration in scaling and affordability.
With all these factors, there is a clear opportunity and allure to buy Shiba. However, it is critical to note that the risks remain when investing in this market. Hence, I suggest you do it strategically