Shiba Inu Price Drops in September
The Shiba Inu price rose 2% to $0.00001358 today while the cryptocurrency market rose 1% in 24 hours.
This rise doesn't change SHIB's 7% weekly drop and 3% monthly drop, as the meme coin struggles to gain momentum.
Shiba Inu's 73% yearly increase gives promise for the long term, since its fundamentals have improved this year.
With creators releasing the iOS version of the new Shibarium-based game Agent Shiboshi today, the Shiba Inu price may climb.
Will September's Shiba Inu Price Drop Lead to More Losses?
SHIB's chart, like many others, is between a rebound and additional losses.
After jumping to 60 early this morning, its relative strength index (purple) has fallen again, suggesting today's rally may not sustain.
However, because the token has been below the 200-period average (blue) for a week, its 30-period moving average (orange) suggests a more persistent recovery.
At $200 million today, SHIB's 24-hour trading volume is modest.
Since early August, when a market crisis drove its price from $0.000014 to $0.000011 in just a day, the meme currency hasn't witnessed volumes of $1 billion or more.
SHIB has been gone from data and transfer aggregators since Whale Alert reported a major Shiba Inu transfer on July 20, when Robinhood took $48.3 million.
The Shiba Inu price has fallen 25% since then.
SHIB has strong meme token foundations, and its developers are adding to its ecosystem.
Today, iOS users got Agent Shiboshi, a side-scrolling shooter that integrates with layer-two network Shibarium.
The second Web3 video game on the Shiba Inu ecosystem will boost the coin's long-term appeal.
We estimate the Shiba Inu price to hit $0.000015 next month and $0.00002 by year's end.
