Shiba Inu cryptocurrency was hammered, beaten and battered to its knees as the crypto market crashed post Bitcoin's slump on Tuesday. The merciless blood bath wiped out $98 billion from the market in a single day leaving investors high and dry.
The meme-currency Shiba Inu, which touts itself as the 'Doge killer' is steadily treading on its downward path after touching an 'all time high' (ATH) of $0.00003791 on May 10, 2021 and nearly fell to 90% from its ATH and is down 84% up until now.
Only on Wednesday, the market saw a glimmer of hope and is trading in green but majority of coins are still below its ATH and almost everybody has lost a considerable amount of money.
The cryptocurrency market is testing the patience of investors who dreamt of it to be a 'get rich quick' scheme and several of them are now forced to hold on to their coins as selling it for a considerable loss would cut a deep hold in their pocket.
What To Expect From Shiba Inu After Falling 90% From Its ATH?
Shiba Inu seems to be stagnated in its price after a drastic fall from its previous glory and has found resistance at $0.00000575 to $0.00000650 levels despite its Average True Range (ATR) has declined.
For those new to the market, ATR is an indicator that measures the volatility of a price range and Shiba Inu gives no volatility to its investors, as the price between the 'days high and low' is razor thin, giving no space to investors to decide when to buy or when to sell.
The International Business Times predicts that Shiba Inu would not deliver results in the short term as the global financial market despite recovering in snail's pace is still in tatters and further Covid-19 Delta variant scares and lockdowns could make the markets tank. Those looking for quick results need to rethink their investment at the moment.
However, considering the long term, Shiba Inu is expected to deliver results for investors who hold for a minimum of five years and its price could raise to around +750% from the present rate and would reach to $0.000050 in 2026.
Also, Shiba Inu is not expected to touch 1 cent up until 2030 and investors can only expect it could reach the milestone only after this decade.