Disclaimer: CoinMarketCap cryptocurrency community price estimation is based solely on the votes of its users. Estimates do not guarantee month-end prices.

As the majority of the cryptocurrency market turns green after a long period of decline, one of the most popular meme tokens – Shiba Inu (SHIB) is following suit, sparking optimism within the crypto community regarding its future price.

Specifically, the CoinMarketCap community predicted that the SHIB token would trade at an average of $0.00002065 by the end of July 2022, according to the latest data retrieved using the platform’s “Price Estimates” tool. which allows users to make crypto price predictions.

It should be noted that the crypto community price prediction for July 31 indicates an increase of $0.00001039 or 101.30% of the current price of the decentralized finance (DeFi) asset which, at press time, stands at $0.00001026.

At the time of publication, 16,403 community members had voted to arrive at the above estimate. In terms of estimates for the end of the next month – August – the community expects the price to be slightly lower at $0.00001761 with 8,308 user votes.

SHIB Price Analysis

Year-to-date, SHIB has been on a steady downward trajectory, seeing a particularly steep drop in the first half of May and some short-term gains in the meantime.

The Dog Meme Coin has fallen from $0.000034 on January 1st to the current $0.00001026, which represents a decrease of 60.82% over the observed time frame, as seen in the charts and data. As it stands, Shiba Inu’s total market capitalization is $5.62 billion, according to information from CoinMarketCap.

Meanwhile, as Finbold reported earlier, the number of SHIB transactions fell to a 15-month low, despite adding more than 30,000 new holders in May and briefly topping the top 100. gains at the end of June.

Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.