Although Shiba Inu (SHIB) has seen a price drop during the chaos in the crypto market in recent weeks, many still believe a recovery is in SHIB’s near future.
One of the reasons for this belief is that whales are spending big money on the meme coin. Although large wallet investors on the Ethereum chain have shed their SHIB, “BlueWhale0073” has bought 142.6 billion SHIB tokens recently.
Another reason for SHIB’s possible recovery is the fact that SHIB is expanding into flight and hotel bookings. SHIB has recently extended its utility with a new partnership with XcelTrip, which is a decentralized booking system with 450 airlines, 2 million hotels, and car rental agencies globally. The agency aims to make blockchain and cryptocurrency mainstream and has recently announced that it will be accepting crypto, including SHIB, as payment. In addition to SHIB, the agency accepts Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Litecoin (LTC), and Binance Coin (BNB), among other tokens. Maybe they’ll consider metaverse tokens like Mana, Solis and Sand in the near future as well. Notably, SHIB’s price predictions seem to be mostly positive.
Analysts have evaluated SHIB price trends and identified moderate volatility. Analysts also concluded that SHIB’s price is protected from price manipulation and trending near resistance.
SHIB found support around $0.00001013 and resistance at $0.00001079. Will SHIB breakout soon? Source: https://coinquora.com/possible-recovery-in-the-cards-for-shib-after-crypto-bloodbath/
submitted by /u/Rayna765
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