The year 2021 has proven to be a roller-coaster for the entire cryptocurrency industry and among all, it has been crazy for Shiba Inu (SHIB). Starting from May 2021, SHIB has proven to be extremely promising for the entire cryptocurrency community.
Compared to the rest of the cryptocurrency communities, it is the meme coin community that has benefited tremendously from their investments. However, towards the end of October 2021, SHIB started losing its value, and still, it wasn’t doing too well.
However, the developments in recent days are bound to help SHIB gain a lot of growth in the upcoming days. For now, the prediction charts for SHIB are not showing very high trends. Still, it is being expected that the factors may soon kick in for SHIB, helping it boost its price.
From the beginning of 2021 until October 28, 2021, SHIB’s price had grown all the way up to $0.0000826, experiencing growth at a rate of 104,556,962.03%. This is extremely high for any investor who invested in SHIB at the beginning of 2021.
However, as of now, the price of SHIB is down to $0.00004264, which means that since October 28, 2021, its price has dropped by almost 52%. However, the worst dip SHIB had experienced since October 28, 2021, was on November 24, 2021, when it fell down to $0.00003667 per SHIB.
Throughout the dip since October 28, the SHIB supporters have continued losing their confidence in the meme coin. After gaining the top spot as the largest meme coin and the 7th largest cryptocurrency in the crypto-verse, SHIB lost all of it.
However, since the beginning of December, SHIB seems to be performing better than it was a few weeks back. The data from TradingView shows that the price of SHIB has surged by 2.78% in the past 7-days.
The first factor that helped SHIB experience a surge in its price was Kraken making an announcement in favor of SHIB. Kraken, one of the largest cryptocurrency exchanges announced on November 30 that it had listed SHIB for trading.
Right after the announcement, the price of SHIB surged from a low of $0.00004225 per SHIB to 0.00005380 per SHIB by the end of November 30. This helped boost the price of SHIB and since then, more news keep coming in that are supporting SHIB.
Despite the growth, the TradingView and CoinMarketCap graph didn’t show much of a growth in SHIB’s price. However, once the factor of Newegg’s latest announcement kicks in, it may boost the price of SHIB tremendously.
Newegg, a major electronics retailer has announced that it has parted with BitPay, a major cryptocurrency processing platform. Following the partnership, Newegg is going to let its consumer’s purchase products while paying with Shiba Inu.
