Shiba Inu grew exponentially in October, posting a + 900% gain in just 30 trading days. The increase has made SHIB the focus of discussions in the crypto space. Shiba Inu is the most talked about cryptocurrency on Twitter when it comes to beating the giants of Bitcoin and Ethereum.
However, its phenomenal rise stalled in November after falling more than -50%. Investors wait for deeper declines before increasing their investments. The more “selling pressure” a token incurs, the more its price will fall in the coming days.
However, a financial analyst announced that SHIB’s downtrend is temporary and could soon rebound. He added that SHIB is less than two years old and cannot be easily wiped out.
“The current drop in Shiba prices makes most investors wonder if the coin is out of date. Objectively speaking, the answer is no. It is too early to take a coin that is less than 2 years old from the market. Any seasoned trader would agree that this is just the beginning. “
“It is certain that the recent drop in prices will not last indefinitely. At some point, with the right upside momentum, the price will reverse. This is normal in a market with frequent price fluctuations. Any new bull run could cause the SHIB price to hit a sentimental value of $ 0.0001. This will be a new all-time high and represents a new milestone on the way to getting the meme coin down to 1 cent. “
Shiba Inu: a 1 cent dream
Most investors hope and pray that SHIB will soon cross the 1 cent mark. The $ 0.01 mark can turn investors into millionaires and lead them into financial freedom. While some may want to buy a home, others want the peace and quiet so they don’t have to bend their backs to earn a living.
SHIB carries a million dreams and its price movement is the heartbeat of millions of investors. Analyst Del Crxpto wrote about the “1 Cent Dream” and the phrase has popped up like mad on social media.
Will SHIB hit the 1 cent mark? Only time can tell. While the token is bearish, it is bullish and could hit new highs by the end of the year.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
According to watcher.guru