While Shiba Inu (SHIB) has not been able to deliver what was expected recently, current data reveals that meme coin is still the focus of the investor.
The Number of SHIB Investors Is Increasing!
Shiba Inu has traded horizontally in recent weeks due to the effects of the FTX crisis. However, despite the inability to realize a significant price increase, the number of SHIB investors continues to grow. As of December 11, the number of SHIB investors is 1,258,320. On December 1, this figure was 1,251,237. This reveals that since the beginning of December, 7,083 more investors have entered the SHIB caravan. In this case, SHIB added an average of 643 new investors daily in December, according to data provided by Etherscan. SHIB investor is trying to recover after a sharp decline in November.
SHIB lost about 9,000 investors in the last week of November. The SHIB price traded in the red zone throughout December. Meme coin is having a hard time finding a bottom that will trigger an uptrend. Shiba Inu is currently trading at $0.0000092. SHIB was trading at $0.0000093 on December 1. SHIB reached the peak of this month with $0.0000099 on December 5.
Despite the correction, Shiba Inu exhibited a stable trading volume. At press time, according to CoinMarketCap data, meme coin’s 24-hour trading volume increased by almost 8% to $61.7 million. According to a Finbold report dated November 21, about 76% of SHIB owners made a loss, while only 15% were in profit. SHIB is far from the peaks of 2021 due to the Fed factor and the FTX crisis. Especially after the FTX crisis, rally hopes have largely disappeared. However, SHIB can gain momentum with the new listings and partnerships that will occur in this process. SHIB had recorded an increase after Elon Musk bought Twitter, with speculation that SHIB could be integrated as a pay option at the social media giant. However, these rumors later disappeared.
SHIB Prediction from 2 Platforms!
The SHIB community at CoinMarketCap remains optimistic about SHIB. The community estimates that SHIB will probably trade at $0.000011 by December 31. In addition, PricePredictions, which uses four indicators, estimated that SHIB will trade at $0.000010 on December 31. According to experts, in order for the SHIB price to increase, first of all, the current bear market must end. It is also of great importance that SHIB continues its projects and partnerships in this process. The use cases and the adoption rate can also be effective in reaching the new peak.
An important factor that gave impetus to the Shiba Inu price was the release of the NFT series, known as Shiboshi. In this process, it is also important that the NFT craze starts again. The most important thing is the continued interest of investors and the mobility in social media. The fact that SHIB is listed on different exchanges and receives support from famous names can also affect the price. Another factor that boosted the SHIB price was the increase in the amount of open positions (OI) in futures on multiple exchanges, including OKEx, FTX and Huobi.
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