Is It Too Late to Buy Shiba Inu? Crypto Experts Give Their SHIB Price Predictions
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Shiba Inu (SHIB), an Ethereum-based ERC-20 crypto token and the second most popular dog-inspired meme coin after Dogecoin, is seeing a decent rebound on Friday after a choppy few days. SHIB/USD was last changing hands slightly to the north of $0.000013 and slightly above its 21-Day Moving Average at $0.0000129, though is still about 6.0% lower versus earlier weekly highs in the $0.000014 area.
Shiba Inu has shrugged off a few negative headlines in the last day or two, including a large drop in the crypto token’s burn rate, as per shibburn.com – SHIB burns were down over 90% in the last 24 hours. Meanwhile, one of the top Shiba Inu developers recently announced on his telegram channel that 50 projects that had expressed interest in building on Shiba Inu’s upcoming layer-2 Ethereum scaling solution protocol were no longer replying to his messages.
Shiba Inu developers are hoping to take the bulk of SHIB trading off of the Ethereum blockchain soon with the launch of their own scaling solution, which is also touted to facilitate rapid expansion of Shiba Inu’s web3 ecosystem.
Evidence of increased Ethereum whale buying is likely helping to prop up SHIB’s price. According to blockchain activity monitoring website WhaleStats, Shiba Inu was in the top 10 purchased coins by the top 500 Ethereum whales in the last 24 hours.