Following nearly a week of losses, Shiba Inu (SHIB) could see a price recovery incoming if certain factors do come to fruition. Currently, the meme coin is trading at $0.00001056, down 3.00% over the last 24 hours, but a turnaround could be on the horizon.
Earlier today, the meme coin had seen a gradual ease of its selling pressures, while showcasing a balance of trading activity, according to U.Today. Now, on the heels of a losing streak, and immense volatility, a price recovery is not out of the question if some things fall into place.
What Could Drive a SHIB Turnaround?
According to CoinMarketCap, SHIB has been on quite a low recently. Specifically, it had reached prices of $0.00001033, currently regaining some, but still showing a concerning chart. Yet, things may be looking up for one of the most popular meme coins in the industry.
So, how could a Shiba Inu (SHIB) price recovery be incoming? Well, it all starts with the overall market. Specifically, bullish sentiment in the industry as a whole could allow the beloved mem coin to maintain momentum, coinciding with the positive growth of something like Bitcoin amidst macroeconomic uncertainty.
Secondly, the meme coin must continue the expansion of its ecosystem through Shibarium. Specifically, an impending update could do wonders for the digital asset, as this continued expansion col trigger positivity in the short term.
Finally, as it usually does with Shiba Inu, it all comes down to t eh burn rate. Consequently, growth in the burn rate always tends to express growth in the digital asset in the medium term. Thus, medium and short-term price recovery could be a possibility, with the passion of the SHIB Army maintaining its long-term potential.
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