Can Shiba Inu end the Year at $0.0001?

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Can Shiba Inu end the Year at $0.0001?

Shiba Inu is one of the most popular digital assets in the crypto industry that has brought more attention and investors into the space largely due to its price performance.

The asset, as of the beginning of last year was trading for $0.000000000073, however, its price touched a high of $0.00008841, 10 months later. This meant any trader who had invested in the asset would have seen their investments rise by 121,000,000% i.e. an investment of as little as $1 would have turned the investor into a millionaire.

The impact of Shiba Inu, and other tokens like it, was so significant to the crypto ecosystem that many analysts noted that they played a larger role in the demand for digital currencies and rising number of investors globally than the flagship digital assets, Bitcoin and Ethereum.

While many still don’t know the factors responsible for the huge rise in its value, some have postulated that the crypto market dynamics played a role in pushing it to the heights.

Can Shiba Inu Repeat This Feat?

Shiba Inu’s ecosystem, no doubt, has grown exponentially within the last year. Several top crypto exchanges like Binance and others have listed the asset.

And coupled with the launch of a decentralized exchange ShibaSwap, the trading liquidity for the asset improved drastically within a very short time frame helping to push its value higher.

Apart from that, the project is expected to launch its highly anticipated Shibarium project which would bring more developments to its ecosystem.

According to the developers, Shibarium is designed to make Shiba Inu transactions cheaper and more economical. While its launch date is yet unknown, it is believed that it could be launched by the middle of 2022.

With all of this in mind, its over 1 million holders will hope that the price of the asset is able to eat up one more zero.

As of press time, Shiba Inu is trading for $0.00001992 according to data from Coingecko.

Credit : LINK

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