According to renowned economist Alex Kruger, the meme coin market will be volatile for the next few months. Speaking about the Shiba Inu in his latest tweets, the expert revealed the stunning results of the latest rally.
Two standouts from the latest Shiba Inu rally, according to Alex Kruger
Crypto expert and economist Alex Kruger says the latest Shiba Inu rally is abnormal. “The meme coin boom shows that the two bull runs in 2021 have concluded,” the expert said in his current posts. The market has been following a negative trend since the date Kruger stated.
Some crypto traders may be worrying about the end of this bull run as dog coins take off. Dog coins ramping up marked the end of the two 2021 bull runs. However dig in and you'll notice this dog run just started and is news driven. The $DOGE run in particular looks sound to me.
— Alex Krüger (@krugermacro) August 16, 2022
Unfavorable market conditions signal the start of a “bear market” or “crypto winter” since the beginning of 2022. The volatility of Shiba Inu and other meme coins is interesting to watch as it deviates from the usual. The Shiba Inu had significant growth, rising nearly 35% from the low of $0.0000126 on Aug. 14. On August 15, SHIB rallied as high as $0.0000179 before correcting. SHIB is currently trading at $0.00001577. Today, it has recorded a value of around 1%, along with the market overall.
Famous economist hinted that the rally has just begun
Kruger claims that the meme token rally “may have only just begun and is news-driven.” Shiba Eternity was the name given to the SHIB CCG game on August 2 by the Shiba team. After leaving the community wondering for a while, the team announced the name of the new game as “Shiba Eternity”. Expectations were raised last week when the Shiba team announced that the Shiba Eternity is currently being tested in Vietnam. Shiba Eternity is rapidly gaining popularity. As Kriptokoin.com, we have discussed the details in this article.
Wow, we had to increase the gameplay server capacity FIFTY-FOLD to deal with the players coming in from the Vietnam test launch! #ShibaEternity #PetYourShiboshi
— william_volk (@william_volk) August 15, 2022
After the announcement, the video game Shiba Eternity is becoming popular in Vietnam. Shiba Inu game consultant and veteran player William Volk said after the announcement:
Wow, we had to increase the game server capacity FIFTY TIMES to deal with the influx of players from the Vietnam test launch!
The ShibaSwap debut in July 2021 sparked curiosity among the Shiba community and serves as another example of how a good word about an event can have a short to medium term impact on token pricing. Within a day of launch, the platform’s total unlocked value reached $1 billion, and the price of the Shiba Inu rose only marginally by 14%. The price of the Shiba Inu increased significantly in the months that followed as a result of the event. It also skyrocketed one hundred percent after just four months, reaching the ATH level of $0.000088. Future applications such as Shibarium, SHI and SHIBFE are implied by Shiba (Shiba Inu financial ecosystem).
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