Shiba Inu (SHIB) experienced price gains on Wednesday (10/26/2022) as the crypto asset market skyrocketed and hit a new monthly high. However, this strengthening is not necessarily prolonged so that Shiba Inu investors have the opportunity to be nervous in the fourth quarter of 2022.
The crypto asset market has seen price increases many times over the past year but not accompanied by sustained momentum.
Shiba Inu Investors Ready To Be Restless
For the 10th month in a row, SHIB has not rallied in the 2022 crypto index and has been in an unfavorable price range for three consecutive quarters.
Therefore, the SHIB price may sag in the fourth quarter of 2022, amid the global macroeconomic impact of high inflation and an increase in the benchmark interest rate by the US central bank.
Teacher Watchers reported, the price of SHIB had decreased on Tuesday (25/10/2022) to the price of US $ 0.000009 but then strengthened again in a short time.
Although SHIB managed to recover quickly, the price breaking below US$0.00001 bodes well for crypto memecoin Shiba Inu themed.
The global economy is being hit by a number of factors bearish. This causes analysts to predict Bitcoin (BTC) may experience further correction.
BTC price climbed above the level of US $ 20 thousand after being below that price for a long time but the strengthening was not necessarily managed to be maintained.
BTC repeatedly experienced rejection at the level resistance US$21,500, so the price could be hit again even though it is currently climbing.
If BTC plummets, the crypto asset market could also fall and lose the momentum it has built up recently. Therefore, Shiba Inu investors are getting ready to suffer losses in the fourth quarter.
In addition, the latest developments in the Shiba Inu have not resulted in the price of SHIB strengthening.
Mobile games Shiba Eternity failed to raise the price of SHIB. Crypto price memecoin it actually weakened since games It was launched on October 6, 2022.
Some investors criticize games This is because it is seen as not helping the SHIB price.
The Shibarium documentation, which is planned for release at the end of the third quarter, has yet to appear.
Unification, the company that builds the network layer-2 Shibarium, said the documentation will be released shortly after the end of the third quarter. However, the Shiba Inu and Unification teams have not yet provided a tentative launch date.
Currently, SHIB is trading at US$0.00001, an increase of 5.2 percent in 24 hours. [ed]