Shiba Inu is one of the coins that is trying to bounce back after a rough weekend in which its price fell below the $0.00000010 range. One of the top meme cryptocurrencies, the digital asset, is building itself on strong fundamentals to propel itself to new heights, although macroeconomic factors may slow its climb.
Does Shiba Eternity Game manage to elevate SHIB?
The Shiba ecosystem got a major fundamental boost over the weekend with the launch of Shiba Eternity, a collectible card game that is part of the entire ecosystem.
After being released on Apple’s App Store a few days ago, Sheba Eternity launched for Android users in Australia last weekend. The trading card game has been a huge success in Vietnam, where it was first released. According to Shiba Inu developer Shiotoshi Kusama, Australia will be the game’s last Test country before going global.
Despite the game’s release, the Shiba Inu declined significantly. The asset has lost 8.78% in price since the announcement of the Ethereum merger and higher-than-expected inflation by the Federal Reserve. SHIB had declined 14% last week.
The inflation data from the Fed has significantly affected the entire crypto market. And as a large cap coin, SHIB has been one of the hardest hit in the market.
Investors worried about hike in interest rates
The crypto market has fallen significantly throughout the weekend and the recovery has been slow. This is mainly due to the Federal Reserve’s expected recommendations on interest rate hikes this week.
The Federal Open Market Committee (FOMC) is expected to release interest rate data for the next quarter on Wednesday. Inflation is much higher than last week, there is a good chance that rates will rise by 75 basis points.
Mike McGlone recently said that the Federal Reserve is not expected to slow down interest rate hikes. As a result, crypto investors are prepared for a prolonged bear market.
shiba inu price prediction
Currently, the price outlook for SHIB is not looking so promising. The asset is trading below all its moving average (MA) indicators, ranging from the 10-day MA at $0.0001068 to the 200-day MA at $0.0001090. Furthermore, a negative moving average convergence divergence (MACD) indicates a sell signal.
For now, the market will wait for the results of the FOMC meeting and the Fed’s recommendation on rate hikes.
Tamadoge: New property presents optimum profit opportunity
As indicated by our Shiba Inu price forecast, the market is preparing for a prolonged bearish period. However, this does not mean that investors do not have opportunities to make profits.
TAMA is one asset that is getting a lot of attention right now. The asset is Tamadoge’s native token. The cryptocurrency hopes to combine the functionality of blockchain games with the sporadic earnings of meme coins such as the Shiba Inu.
Tamadoge will allow players to purchase digital pets represented by non-fungible tokens (NFTs). These pets can be crafted and used to compete against other pets, with the winners receiving rewards in TAMA tokens.
TAMA’s pre-sale ended earlier this month. The asset raised $19 million for developers, outperforming assets like Ethereum. TAMA has shown an impressive level of investor demand by exceeding its pre-sale target much earlier than expected. The asset is about to be listed on centralized exchanges, so greater investor exposure should help it further.
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