The Shiba Inu coin was probably the biggest sensation of 2021. As the second major meme coin after Dogecoin, the Shiba Inu coin was able to establish itself as one of the biggest cryptocurrencies in the market with rallies massive. But in 2022, the price was mostly down. What is the Shiba Inu prediction for 2023?
In this article, we want to discuss the Shiba Inu predictions for the coming year 2023 and see if the magic of the years 2020 and 2021 can be repeated.
How has the Shiba Inu price changed in 2022?
For most of 2022, we have seen a steeper decline in the price of the Shiba Inu. Due to the bear market, the value of the meme coin has declined almost continuously over the past 12 months following its 2021 high. The losses in the first half of 2022 were particularly severe. at $0.0000077 in mid-June.
After these massive losses in the first half of the year, the price decline stabilized somewhat in the second half of 2022. In mid-August, the price even went down to $0.000017. But since that rally, it almost continuously relapses.
In early November, the SHIB price rose from $0.00001 to $0.000013. The FTX crisis erased these gains. There has been a steady slight decline in the price over the past few weeks. More recently, the SHIB price was around $0.000008.
Why did the Shiba Inu piece suffer such heavy losses?
The Shiba Inu coin has lost a lot of value over the last 12 months. As a meme piece, the losses were particularly severe during this period. This is the nature of this type of room. In a bear market, of course, losses are unique. Especially after such high hype as in 2021, it was to be expected that the SHIB price would collapse.
Unlike Dogecoin, the Shiba Inu coin also didn’t benefit as much from the early November altcoin rally and the Elon Musk buyout. As a result, the Shiba Inu only fell to 15th place among cryptocurrencies by market capitalization.
What is the Shiba Inu prediction for 2023?
Over the next few months, we could see another trend reversal in the market. Bitcoin also rose massively in the first 6 months of the second year of the last bear market, in 2019. If such a development happens again, we may soon see a surge in meme pieces like Shiba Inu again.
It will be interesting to see how the SHIB can continue to hold sway in the bear market. Dogecoin has already seen a bear market and is therefore much more established. There was a risk that Shiba Inu would disappear into the dark. But this hypothesis was refuted despite the heavy losses. A trend reversal in the market should also allow the Shiba Inu price to rise again in 2023, which improves the forecast.
How high can the Shiba Inu price go in our forecast for 2023?
An increase in the price of the Shiba Inu seems very likely if the crypto market recovers slightly next year. If Bitcoin could triple again in the next few months, then a coin like the Shiba Inu coin could also increase massively and up to 5x in value.
This increase would then probably be short-lived. Depending on when the crypto market will experience a rally again, the price will fall more sharply thereafter. We therefore assume a Shiba Inu forecast for the end of 2023 of 0.000015 to 0.000025 US dollars.
Is an investment in SHIB Coin worth it?
An investment in the Shiba Inu Coin could be worthwhile in the weeks and months to come, as our predictions show. But you need to be careful, as the meme coin is considered extremely volatile. Also, the Shiba Inu has yet to go through a full bear market and we don’t have historical data.
In the end, the risk with the Shiba Inu Coin is particularly high. However, this also makes the possible profits very high. Whether or not you want to take that risk is up to you.
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