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The current fall in the price of cryptocurrencies is raising the question of whether is Shiba Inu coin setting itself for a 600% price pump?
Price Fall in the crypto market is not new with the industry experiencing some of the most volatile prices in the financial market. However, the ongoing market fall is among the most intensive in the last few months.
The Shiba price fall comes at a time when we are coming out from one of the most successful years since its launch. In 2021, the Shiba Inu coin hit an all-time high that put it among the top 10 cryptocurrencies in market valuation.
Currently, the coin has over 1 million investors and some of the highest market volumes in the industry. It is also among the popular coins in the market.
Shiba Inu coin Price fall
Since hitting an all-time high, the coin has been in constant price fall. Currently, SHIB is trading at $0.000013 from an all-time high of $0.000088.
This price fall is not unique to SHIB alone as the majority of cryptocurrencies are also experiencing a crash. With the coin trading at almost 80% lower from its high less than a year ago, the signs of a coming price pump are starting to form.
Naturally, financial assets such as cryptocurrencies move in the up and down direction. Hence, the chance of the coin recovering remains high.
Is Shiba Inu coin setting itself for a 600% price pump?
With this in mind, if the coin recovers to its peak, it is possible to record over 600% price gain. An occurrence that is not impossible.
Shiba Inu coin is famous for its huge price gains within a short period. As an example, it rose by over 500% within a week last year to hit an all-time high.
Some investors are interpreting the current low prices as a chance to buy the dip. With major whale activity rising.
The cryptocurrency market will inevitably recover as per history. If it does, only those investors that are taking advantage of the low prices will benefit most.