Shiba Inu (CCC:SHIB-USD) has crashed along with the rest of the crypto market, leading analysts and investors to wonder aloud: Where will the price of the fledgling digital token go from here?
So what else do you need to know in order to come up with Shiba Inu price predictions?
First of all, it was a wild weekend for SHIB-USD. The crypto’s price fell more than 20% before rebounding and ultimately falling again. As of today, Shiba Inu is down 11% over the past 24 hours. This puts it nearly 80% below its all-time high.
What Is Going on With Shiba Inu Price Predictions?
SHIB-USD, which is worth only a fraction of one penny, is falling along with the broader cryptocurrency market. Bitcoin (CCC:BTC-USD) plunged below $33,000 over the weekend, and the leading crypto has dragged other coins and tokens down with it.
Why? Cryptos, like stocks, have been falling hard since the start of 2022. One of the top concerns is how rate hikes from the Federal Reserve will impact markets. Also adding pain are regulatory threats and the potential for conflict between Russia and Ukraine.
Why It Matters
Many Bitcoin bulls believe that BTC is a hedge against inflation. Now, that theory is being put to the test as consumer prices rise and the Fed gears up to take action. With the central bank embracing more hawkish monetary policy, risky assets like cryptos and high-growth stocks have suffered.
Additionally, there’s concern that regulators in the U.S. and elsewhere will further crack down on digital assets. Indeed, U.S. Securities and Exchange Commission Chairman Gary Gensler threatened additional regulations during a Congressional appearance last week.
For smaller, nascent cryptocurrencies such as SHIB-USD, the current retreat from cryptos is proving to be particularly painful. While some analysts are still predicting a rebound in the sector and that Shiba Inu could be worth 1 cent by year’s end, others are urging investors to pull up stakes and exit before the declines worsen.
- For 2022, CoinQuora says that bullish Shiba Inu price predictions range from $0.00006 to $0.00008. However, the site does include a bearish target of $0.000005 for the year.
- WalletInvestor has a one-year price target on the SHIB crypto of $0.0000614. It also notes a five-year target of $0.000218.
- Lastly, DigitalCoinPrice predicts just modest growth in 2022 to $0.0000265. However, by 2025 the site has a Shiba Inu Price prediction of $0.0000421.
What’s Next for SHIB
The rout in stocks and cryptocurrencies that accelerated last week, pushing the Nasdaq into correction territory, look set to continue today. It could get worse throughout this week and beyond as investors try to adjust to a world of higher interest rates.
How bad the declines get remains to be seen, and where SHIB-USD and other cryptocurrencies end up is unknown. What is clear is that the decline in Shiba Inu’s value appears likely to get worse before it gets better.
On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.