SHIB is currently in the bearish zone. This comes as a surprise as it outperformed all the 13,000 digital tokens in the previous year. This includes majors like Bitcoin and Ethereum.
Shiba Inu recorded a growth of 49,539,173% since 2020, but it is now stuck at a $0.0297 valuation. The meme coin has even lost 65% of its total valuation from the previous high.
One question that now arises is if the SHIB Army can bring back the value of Shiba Inu in 2022. It has been done in the past. If experts are to be believed, then it is only a matter of time before the SHIB Army triggers the price of Shiba Inu again in the current year.
Potential Of SHIB Army
Shiba Inu has an ocean of supporters. They have stood strongly with it since its inception. It has been nearly two years, and the time has come for the SHIB Army to re-emerge and trigger the price. But can they really do that?
Yes, they can do that, and they have done that in the past.
SHIB competes majorly with Dogecoin. Supporters of both the digital tokens came face-to-face on Twitter to prove why their holdings were better.
Supporters of Shiba Inu and Dogecoin got into a war in 2021. While it barely affected Doge prices, SHIB witnessed a spike in its valuation. Supporters of the meme coin triggered the valuation while fighting with its competitor.
Needless to say, supporters of Dogecoin fought back to prove their point.
Endorsement by a widely known public figure helps a digital token. Its valuation jumps higher or bounces back from the ashes.
Elon Musk and Mark Cuban have done it for SHIB previously. One instance is when Elon Musk shared an image to show that he had purchased his share in Shiba Inu. This drove his followers and others to get their hands on the meme coin, triggering its valuation for the better.
Ironically, this triggers the valuation of Dogecoin, but it has been SHIB to receive the benefits in recent times. One tweet from either of them or any other personality can again trigger the price of SHIB.
Social Media gives power to the holders of their respective digital tokens. Many trends were initiated to drive the price of SHIB. Some of the campaigns carried hashtags like #ShibaSwap, #SHIB, #shibainu, and #SHIBARMY.
These trends and campaigns drove a lot of investments to Shiba Inu and triggered its price. According to ICO Analytics, Shiba Inu was the most discussed digital token on Twitter, with a share of around 22%.
Supporters of Shiba Inu once pushed for its listing on various exchange platforms. One petition even collected approximately 3 lakh signatures; however, Robinhood refused to list the meme coin on its platform.
It still worked out for good as other Cryptocurrency exchanges began considering listing it on their platforms.
As per the data published by WhaleStats, almost 1,145,212 wallets in the market hold SHIB right now. Bacancy Technologies says that Shiba Inu is the most searched digital token on Google, with nearly 2.8 million searches.
Analysts believe that this may be a result of the FOMO effect with traders buying the meme coin out of anxiety.
The prices are currently low. Learn where SHIB is headed in this Shiba Inu price prediction.
