As meme coins are in a downward trend, the Shiba Inu (SHIB) ecosystem is synchronizing with other parts of the market. It appears that most assets in the industry are ending the year at a loss. The world's largest cryptocurrency, Bitcoin (BTC), has fallen below the $100,000 mark. Amidst this, SHIB and other tokens are also struggling. Will SHIB continue this trend, or will it open a new chapter in January 2025?
Shiba Inu price drop: Will it rebound?
As of the time of writing, the trading price of Shiba Inu is $0.00002167. It has decreased by 2.23% in the past 24 hours. The monthly return rate for this meme coin is still negative 20%. Meanwhile, the annual return on this asset is 106%. Over the past year, this meme coin surged to a high of $0.00004534. Nevertheless, SHIB is still 75% lower than its historical peak of $0.00008845.
This decline comes at a time when Shiba Inu's chief developer, Shytoshi Kusama, has revealed a new development. In today's post on X, Kusama highlighted the upcoming release of Lap Dogs. He stated that this game is another victory for the Web3 gaming industry. With the upcoming release of Lap Dogs, the Shiba Inu ecosystem team intends to expand the Web3 gaming market.
January price prediction
According to data from CoinCodex, the trading price of Shiba Inu coin is expected to range between $0.00001782 and $0.00009306 in 2025, with an average annual price of $0.00003609. Compared to the current exchange rate, this could yield a potential investment return of 327.75%. However, in the first month of the coming year, the highest trading price of Shiba Inu coin is expected to reach $0.00004582.
This indicates that its price level has increased by 110% compared to the current level. Additionally, the average and minimum prices of SHIB in January 2025 are expected to be $0.00002564 and $0.00001999, respectively.