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Shib coin might spike again. But should you invest?

Why would Shiba Inu coin spike again?

An illustration that shows a dog catching a coin. Illustration by Alex Cochran, Deseret News

Shiba Inu coin might be headed for a bump by the end of the week, according to experts at FX Street.

What are current Shib coin predictions?

Per FX Street, Shiba Inu coin is set to reach $0.00001 in value. It will likely hit $0.0000093 first after already reaching $0.0000085.

  • For context, a single Shib coin was worth $0.00000664 in the middle of June, as I explained for the Deseret News.

Why did Shib coin spike?

Shib Inu coin market spiked by 25% after SpaceX founder Elon Musk tweeted about his dog, saying, “My Shiba Inu will be named Floki,” as I wrote for the Deseret News.

Should you hold off on Shib coin?

But there may be a reason to hold off on Shiba Inu coin right now — cryptocurrency is down altogether, according to a report from GoBankingRates.com (via Yahoo Finance).

  • “Crypto, in general, is in a slump right now, particularly Ethereum-based tokens like Shiba Inu and Dogecoin,” the report said.

If the trend changes, and cryptocurrency spikes back up, then “Shiba Inu will be lifted by the tide,” according to the report from GoBankingRates.com.

  • Some experts might say that Shiba Inu coin could see a price increase. “But it’s just as easy to find experts who predict that the coin of the moment will soon be tossed onto the trash heap of crypto history with the rest of the fallen altcoins,” per GoBankingRates.com.