Shiba Inu (SHIB) price predictions remain bearish despite a surge in trading activity that, according to CoinGecko, saw more than $100 million in SHIB tokens change hands over the last 24 hours. The crypto token is currently probing for a breakout below its December 2022 lows at $0.0000078. This can be attributed to the SEC’s double whammy of lawsuits versus Binance and Coinbase which acted as catalysts for SHIB breaking below key short-term support.
Despite the ongoing bearish market sentiment, Shiba Inu has seen some progress with its ecosystem upgrades, such as the launch of Shibarium, an Ethereum layer-2 scaling solution, and SHIB: The Metaverse. The beta version of its scaling solution, called Puppynet, has successfully conducted nearly 18.6 million transactions with impressive average blockchain times of around 5 seconds. Nonetheless, this is not yet translating into an influx of new SHIB investors, as the number of SHIB holders has only risen marginally from around 1.34 million to 1.37 million.
For crypto enthusiasts looking to diversify their portfolios, there are alternative high-risk-high-reward investment strategies, such as participating in crypto presales of up-start projects with strong potential. One such project is yPredict, which aims to build a groundbreaking AI-powered crypto trading and market intelligence platform for next-generation price predictions and insights.
yPredict is currently running a presale of its native $YPRED token to fund the development of its platform. The presale has been gaining traction, with the token selling for $0.09 and expected to list across major exchanges for $0.12 later this year. This suggests a potential upside of 33% for new investors. However, with the pace of yPredict’s presale, there’s the risk of missing out before it sells out. The hard cap for its presale is $6.5 million, which could potentially be reached in just a couple of weeks if the momentum continues.
In conclusion, while SHIB may currently face bearish market conditions, there are still developments in its ecosystem that might drive its value up in the future. In the meantime, investors should consider diversifying their crypto portfolios and assess high-risk-high-reward opportunities, like participating in presales of promising projects such as yPredict. The choice to invest ultimately depends on individual risk tolerance and beliefs about the potential of each project.
Source: Cryptonews
