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The world’s second-largest memecoin after Doge, Shiba Inu has been in the news again, but this time for all the right reasons that their investors might like. According to a recent tweet by a Twitter user, WhaleStats, which keeps an eye on all the whale movements in the crypto markets, shows that the largest 500 whales on the Ethereum blockchain currently own $73 million worth of Shiba Inu meme coin. The number has been rising consistently.
In the last 24 hours, the average Shiba Inu balance of whales has risen by almost 1.43 percent. This was further followed by a spike in the transaction volume of Shiba Inu, with it reaching a high of 26 million SHIB on Friday, December 9th.
The On-Chain Analysis of Shiba Inu
As far as the on-chain analysis of Shiba Inu goes, there was a sharp fall in the exchange flow of the cryptocurrency. The exchange inflow initially rose to around 223 billion on 8th December, however it reduced after that to 25.16 billion.
It is being speculated that the cause of such a decrease could be that the SHIB investors must have retraced on dumping the token. This led to slightly lesser sell pressure. Exchange outflow on the other hand reduced to 17.74 billion. This decline meant that the buying pressure was not exceptional.
Shiba Inu Price Prediction
At the time of writing, the price of SHIB stands at $0.00000927 as per CoinMarketCap. In case the crypto winter of 2022 ends by the onset of 2023, it can be expected that the Shiba Inu price can have a great start. As per the technical analysis of the Shiba Inu crypto, the maximum price for SHIB can be somewhere around $0.00002271. Moreover, the minimum for 2023 can be around $0.00001959, with an average price of $0.00002014.
Crypto Projects Investors Can Look Into
While Shiba Inu’s price prediction states that investors might be able to squeeze some profits out of the crypto project in the coming days, there are a lot of upcoming crypto projects that can help investors gain some profits in the short term.
Dash 2 Trade (D2T)
Dash 2 Trade is a new entrant in the crypto market that promises to provide its users with institutional-grade crypto analytics features. It is a world class technical analysis and social crypto platform.
The technical tools available to the users on Dash 2 Trade are top-notch and help them make an informed decision regarding their crypto investment decisions. Some of the best features on the Dash 2 Trade platform include a trading signals tool that provides buy/sell opportunities in the market, social sentiment and on-chain analysis, a strategy builder and a backtester, a presale alert system, and loads more.
All of this is backed by the native token of Dash 2 Trade, the D2T token, which is an ERC-20 token on the Ethereum network.
Impact Project (IMPT)
The Impact Project is another project on the list that will be listed soon. It’s another crypto project that focuses on providing utility first. It aims at providing a more robust and transparent solution to the current carbon credits industry.
The Impact Project has already partnered with some of the top retailers across the world, around 10,000 of them, in fact. This adds to the overall credibility and vast network in which it will operate. Furthermore, it enables individuals and organizations to buy, sell and retire their carbon credits quite easily.
At the heart of the Impact Project, is the IMPT token which is an ERC-20 token and has multiple use cases, including making payments on the IMPT platform, unlocking advanced in-platform features, discounts on the platform fee, and participating in the DAO governance.
Calvaria (RIA)
Calvaria: Duels of Eternity is quite an interesting card game that has elements that can make crypto investors and gamers excited about the game, equally. It aims at increasing involvement in the crypto space by using play-to-earn games.
The game enables players to participate in battles and compete in tournaments using cards that represent different characters, with each one of them having its own unique capabilities. The Calvaria ecosystem is special in a lot of ways, primarily because, it provides its investors with a chance to truly own the in-game resources.
The project is currently live and on presale.
Conclusion
Shiba Inu has been somewhat of an anomaly when it comes to cryptocurrencies in which investors can put their money. From hitting its all-time high, the second-largest meme coin, with a market cap of almost $5 billion, has borne its fair share of impact due to the FTX collapse. However, it has ensured that it stays relevant due to its popularity and a series of updates to improve its infrastructure.
The team behind Shiba Inu is also working on a metaverse project. The upcoming SHIB Metaverse is being created in the Unreal 5.1 Engine, the news of which has been accepted quite positively by the crypto community. However, it is yet to be seen, if investors will be able to create some unreal profits from Shiba Inu, and the wait time they need to look at. There are several projects which are currently in their presale stage, as mentioned above, which can be quite profitable for investors in the longer run.
While it is always recommended, that investors conduct their own due diligence before investing their money into any crypto project, these projects above have focused solely on an amazing user experience and going for a utility-first approach. Projects like Dash 2 Trade, for instance, can be a game changer once adopted by crypto investors and can help them find the right projects that they want to invest in.
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