Reasons Why Shiba Inu (SHIB) Might Not Surpass $0.00005 Soon

Shiba Inu (SHIB) is one of the top meme tokens with a good return on investment for early investors. It has a return of $12521 for each $1 investment at present according to CoinMarketCap. With the present price of $0.00002, SHIB might not attain a price of $0.00005. Shiba Inu trades at $0.00002016 at the time of writing. Some of the reasons why Shiba Inu will not attain this price soon are: Sell of Shiba Inu by Top Ethereum Holders The cryptocurrency market is one that is moved by news and social trends. The news is that the top 100 Ethereum wallets that hold about $1 billion worth of Shiba Inu have sold about $17.3 million worth of SHIB. Ethereum whales are known to be long-term investors, but the reversal has happened with SHIB Inu. This can increase the fear, uncertainty, and doubt (FUD) in the SHIB community, thereby increasing the panic sell. This has made the price of Shiba Inu decrease by 12% in the past 7 days. The inability of Shiba Inu to Attain new Highs after the Launch of its Metaverse project SHIB’s all-time high price of 0.00008845 was attained on October 28th, 2021 according to CoinMarketCap. One of the reasons for its growth was the launch of the Shiba Inu governance NFT token called Shiboshi. The community was expecting a big rise in SHIB price after the announcement on Twitter in late January 2022 by the SHIB team, that they will be venturing into the metaverse space with the launch of Shiberse. However, th...