Shiba Inu’s price has experienced a 9% drop in the past 24 hours due to the news of Silvergate Bank’s liquidation and the Federal Reserve’s more hawkish stance on further rate hikes. Despite the decline, SHIB remains a popular choice among investors, ranking 14th among “top purchased tokens” according to CoinGecko. Additionally, it remains the fourth-most widely held ERC-20 token among whales in dollar terms. With the upcoming launch of layer-two network Shibarium, SHIB’s price may see a recovery in the short-term, while the launch of SHIB: The Metaverse later in the year may offer more long-term potential. While the latest data from Changelly suggests an average year-high prediction of 0.0000154485, many SHIB holders continue to target $0.10. For traders seeking alternatives, Cryptonews has compiled a list of the top 15 cryptocurrencies for 2023.
