The Shiba Inu (SHIB) ecosystem was in sync with the rest of the market as the meme coin was on a downtrend. It looks like most assets in the industry were ending the year painted red. Bitcoin (BTC), the world’s largest cryptocurrency, slipped below the $100,000 mark. Amidst this, SHIB and other coins also struggled. Will SHIB continue this trend or start a fresh chapter in January 2025?
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Shiba Inu Price Sinks: Will it Bounce Back?
During press time, Shiba Inu was trading at $0.00002167. This comes after a 2.23% drop over the past 24 hours. The meme coin’s monthly returns remain at a negative 20%. Meanwhile, the asset’s annual gains were at 106%. Throughout the past year, the meme coin has surged to a high of $0.00004534. Despite this, SHIB remains 75% below its all-time high of $0.00008845.
This drop came while Shytoshi Kusama, the lead developer of the Shiba Inu network, revealed a new development. Kusama highlighted the impending release of Lap Dogs in an X post today. He stated that the game is yet another victory for the Web3 gaming industry. With the upcoming release of Lap Dogs, the Shiba Inu ecosystem team intends to grow the Web3 gaming market.
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January Price Prediction
According to CoinCodex, it is projected that Shiba Inu will trade in a channel between $0.00001782 and $0.00009306 in 2025, with an average yearly price of $0.00003609. Compared to the present rates, this may yield a potential return on investment of 327.75%. But in the first month of the coming year, Shiba Inu is expected to trade at a maximum price of $0.00004582.
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This marks a 110% spike from its current price level. In addition, the average price and the lowest level that SHIB will trade at in January 2025 are $0.00002564 and $0.00001999, respectively.
