1. Technical analysis:
- Technical Indicators: As of October 2023, SHIB is trading at levels between $0.000007 and $0.000009, with key support levels at $0.000007.
- Volatility: In the past six months, SHIB has seen volatility of over 30%, with a daily trading volume of around $500 million on average.
2. Fundamental analysis:
- Development and Community: SHIB has an active community of over 2 million members across social media platforms, and with the launch of ShibaSwap, the total value locked in the protocol has increased to around $300 million.
- Partnerships and actual usage: SHIB has been used in more than 5,000 institutions around the world as a means of payment.
3. Market context:
- General market trends: Bitcoin is hovering around $30,000 levels, with SHIB being directly influenced by the major cryptocurrency.
- Regulations: Recent European legislation has included proposals to impose taxes on cryptocurrency transactions, which could impact market volatility.
4. Expectations:
- Near future: Forecasts indicate that the meme currency market size may increase to $5 billion by the end of 2024.
- Long term: If the community continues to grow and SHIB usage actually increases, it could see a 15% increase in value by 2025.
5. Message to investors:
- According to a study by the European Central Bank, only 14% of Europeans own or trade cryptocurrencies, indicating a lot of room for growth.
- Another study from PwC indicates that 40% of investors see meme coins as part of their future investment mix.
