Two of the most influential memes on the market are Dogecoin and Shiba Inu. Investor interest in meme coins in general has increased since last year. binance wodl answer believes SHIB adoption has increased despite the prolonged bear market and the FTX decline.
Shiba Inu's team has been focusing on a number of initiatives to improve the ecosystem. The team is creating and implementing new development projects, such as Shiba Inu Eternity, SHIB Burns, and others.
SHIB is currently worth $0.00000931. Here's what we expect SHIB pricing to look like in November 2022.
SHIB price forecast for December
December does not seem to be a good month for Shiba Inu compared to November. On Nov. 1, SHIB traded at $0.00001,273. In terms of prices, SHIB at the beginning of this month is down from the beginning of November.
Based on the current analysis, Changelly's experts recommend an average SHIB rate of $0.000010,089 in December 2022. The highest it can reach is expected to be $0.0000171,783. SHIB's 24-hour trading volume also plunged 53 percent. SHIB also fell 1.735 percent over the past 24 hours.
It is possible that Shiba Inu will follow DOGE, the leader of MEME coins. Its value is likely to increase in the coming days as DOGE holders get excited about the possibility of the token being integrated into Twitter. In addition to a potential rise in DOGE tokens, a possible SHIB rally could also follow a DOGE rally.
If Musk intends to back other cryptocurrencies besides DOGE and BNB, it could mark a turning point in the meme coin market. Unlike DOGE, the SHIB team is involved in many projects and development. It could also lead to higher prices.
Dogecoin
DOGE, the original meme cryptocurrency, is groundbreaking in cryptography. Billionaire Elon Musk has given written backing to the asset and has been instrumental in keeping it relevant. So the price of DOGE is closely tied to Musk's behavior. The asset's price was also significantly influenced by his recent purchase of Twitter.
Dogecoin had a great month in October. During that time, the meme coin rose 119%, beating other important altcoins in terms of gains.
DOGE accelerated gains for the first time this year, indicating bullish sentiment on the token. Despite making huge profits in the first half of 2021, cryptocurrency prices have remained relatively stable over the past year.
A little more than three weeks before the end of the year, here's our December price forecast for Dogecoin.
Dogecoin price forecast for December
DOGE is currently trading at $0.09886, down 1.26% in the last 24 hours. It rose from a low of $0.09851 to a high of $0.1026 before falling to the current price on the last day. DOGE's trading volume also plunged 45 percent in the last 24 hours.
Cryptocurrency experts predict DOGE could hit $0.109989 in December 2022. DOGE is expected to hit a low of $0.0989901 and a potential maximum of $0.109989.
Elon Musk's tweets have been known to cause DOGE rallies in the past. But, "this time is different," because Dogecoin may actually have some utility in 2023.
But now that Elon Musk owns Twitter, DOGE may join the business. As a result, DOGE is likely to be widely developed for payment. Musk's current plans for DOGE are uncertain. But his plans may include a DOGE.