Shiba Inu Poised to Reverse 5-Month Decline: How Far Can SHIB Climb? 🚀
Shiba Inu, a popular meme coin, experienced a bearish trend in August along with much of the cryptocurrency market. However, SHIB is now showing signs of recovery, breaking a five-month downtrend as the market begins to rebound.
Investor support for Shiba Inu has been consistent, which is crucial for maintaining its upward momentum. Over the past month and a half, there has been a steady inflow of capital into the asset, indicating growing confidence among investors and supporting its recovery potential.
The coin's burn rate has also surged recently, spiking by 1,250% on Friday and giving the asset a slight boost. Over the past week, SHIB's price has increased by 14%.
Shiba Inu's ecosystem is set to launch several new products, such as SHIB Marketplace, SHIB DeFi, and SHIB Socials, aimed at attracting new users. These developments, combined with positive market conditions, suggest that SHIB could continue its upward trajectory, potentially rising by 40% by the end of September.$SHIB
