Shiba Inu teases explosive surprise in 2022, tussle between bulls and bears rages on

Shiba Inu revealed details of its 2022 burn roadmap earlier today, as developers teased a surprise for holders.
The team behind Shiba Inu is working on the development of ShibaSwap v2 portal, fueling a bullish narrative for the token’s price.
The number of Shiba Inu holders crossed 1.1 million, hitting a new milestone.
Shiba Inu whale wallet transactions recently doubled, the memecoin’s price could recover from the recent crash.

Ekta Mourya FXStreet

The Shiba-Inu-themed cryptocurrency is on track for an upgrade on its decentralized exchange. The token’s price is in an area of interest, and analysts are eyeing a comeback from the recent price drop.

Shiba Inu gears up for massive recovery in 2022

Shiba Inu, popular as a Dogecoin-killer, recently suffered a price drop. Shiba Inu price posted 4% losses over the past 24 hours. The project recently revealed its roadmap with details of burn implementation in 2022.

The development team behind Shiba Inu is working on an upgrade for the memecoin’s decentralized exchange, ShibaSwap. This has fueled a bullish narrative for Shiba Inu.

Shiba Inu hit a new milestone earlier today. The total number of holders crossed 1.1 million, implying a spike in adoption of the memecoin.

Shiba Inu whales (large-wallet investors) have doubled recently.

Analysis by crypto data tracker WhaleStats reveals that Shiba Inu is the second-largest holding among Ethereum whales in terms of dollar value. There is a 10% spike in large transactions, where more than $100,000 in Shiba Inu is transferred.

@BitQueenBR, a crypto analyst and trader believes once Shiba Inu price flips resistance at $0.00003758, it could break into an uptrend.

Liking the pattern $SHIB is printing on lower timeframes. Bullish consolidation below resistance. Once we break and flip the resistance level a 45% move towards next point of resistance gives a nice entry. pic.twitter.com/YEPD1kNmOn
— BitQueenBR (@BitQueenBR) December 26, 2021

FXStreet analysts have evaluated Shiba Inu price trend and predicted that the memecoin needs to break past $0.00004 to go ballistic.

Author

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.