• SHIB will achieve a 97.8% increase by the end of July, predicts the crypto community
  • More than 8,000 crypto holders say SHIB will trade at $0.00001761 in August
  • SHIB was trading 0.57% at $0.00001043

A crypto community's bullish prediction of the Shiba Inu sets its price to $0.00002065 by the end of this month.

The current bloodbath in the cryptocurrency market distinguishes resilient tokens from speculation-driven ones. Last week, Shiba Inu, the dog-themed crypto asset, achieved a 33.74% uptrend at a time when the world's largest crypto by market cap, Bitcoin, gained a 2.32% increase in its price.

The community-driven SHIB also received a bullish prediction from users of the cryptocurrency aggregator CoinMarketCap through its Crypto Price Prediction and Estimates feature. Based on the collective forecasts, Shiba Inu would trade at an average price of $0.00002065 by July 31.

Shiba Inu
Shiba Inu, the dog-themed altcoin With permission from @GossipShib Twitter

Based on the current trading price of the dog-themed altcoin, the predicted average price will be a 97.8% increase. The above estimate was voted by 16,403 crypto holders, with 8,308 users voting that SHIB will trade at $0.00001761 in August.

These prices are predictions from crypto holders who tried using the Crypto Price Prediction and Estimates feature, which CoinMarketCap introduced earlier this year. The platform believes that these estimates offer convenience to investors "by aggregating the market’s estimates in a standardized format."

Moreover, users no longer need to check and analyze different asset price discussions and chat groups to learn about the projected prices. The platform compared its feature to "sell-side equity research reports in traditional financial markets," noting that users can "compare the asset price performance with market expectations."

The Shiba Inu development team is currently working on a wide range of projects for the Shiba Inu ecosystem. This includes the Layer-2 solution dubbed Shibarium, Shiba Inu Games and "Shib: The Metaverse," among others.

SHIB's performance during this troublesome crypto market is attracting a lot of investors. On Tuesday, a whale purchased trillions of Shiba Inu tokens amounting to around $210 million, which made the dog-themed altcoin the most held non-stablecoin crypto asset, according to WhaleStats.

As of 4:44 a.m. ET on Wednesday, SHIB was trading 0.57% at $0.00001043 with a 24-hour volume of $393,038,298, based on the latest data from CoinMarketCap.