Due to the change in the Twitter logo to the Dogecoin meme, the price of Dogecoin could have skyrocketed in the last few days. The attention has aided the meme coin’s price increase of more than 30% in minutes. Is this also possible with the Shiba Inu price? Can the value of the Shiba Inu Coin even double? Let’s take a look at it in more detail.
How has the Shiba Inu moved in the last few weeks?
Shiba Inu : SHIB/USD Weekly chart showing the price – GoCharting
The Shiba Inu price, unlike the Dogecoin price, has not been able to rise as much in recent weeks. While the Shiba Inu coin’s price rose sharply in January, the price movement has been sideways in recent weeks.
The Shiba Inu cost $0.00001 at the start of March. The price has only been able to rise slightly in recent weeks, and it was recently back at $0.000011. In recent weeks, many other coins have risen faster than the Shiba Inu.
Why couldn’t the SHIB price skyrocket?
Shiba Inu has barely increased in the last few weeks. This could be due to a lack of interest in speculative meme coins at the moment. Because of the banking crisis in the United States, investors prefer safe investments such as Bitcoin or Ethereum.
The hype surrounding Dogecoin after the Twitter logo was an exception, but it did not benefit Shiba Inu. The action benefited only Dogecoin and resulted in a rapid rally. The Shiba Inu Coin has received little attention.
Can the Shiba Inu price skyrocket again?
A quiet period for a meme coin does not have to be significant. A big rally could be on the way, especially in these phases. These protests typically appear out of nowhere. An unanticipated event could set off the SHIB price explosion.
The risk of investing in a meme coin, on the other hand, remains. The Shiba Inu coin may also become extinct in the coming months. However, a price explosion should result in massive gains. It appears that a doubling within a few days is possible. This explosion could happen as soon as next week or as early as next year.
