Possible Recovery in the Cards for SHIB After Crypto Bloodbath

Although Shiba Inu (SHIB) has seen a price drop during the chaos in the crypto market in recent weeks, many still believe a recovery is in SHIB’s near future.

One of the reasons for this belief is that whales are spending big money on the meme coin. Although large wallet investors on the Ethereum chain have shed their SHIB, “BlueWhale0073” has bought 142.6 billion SHIB tokens recently.

Another reason for SHIB’s possible recovery is the fact that SHIB is expanding into flight and hotel bookings. SHIB has recently extended its utility with a new partnership with XcelTrip, which is a decentralized booking system with 450 airlines, 2 million hotels, and car rental agencies globally.

The agency aims to make blockchain and cryptocurrency mainstream and has recently announced that it will be accepting crypto, including SHIB, as payment.

In addition to SHIB, the agency accepts Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Litecoin (LTC), and Binance Coin (BNB), among other tokens.

Notably, SHIB’s price predictions seem to be mostly positive. Analysts have evaluated SHIB price trends and identified moderate volatility. Analysts also concluded that SHIB’s price is protected from price manipulation and trending near resistance. SHIB found support around $0.00001013 and resistance at $0.00001079.

SHIB is currently worth $0.00001174 after a 4.31% drop in price over the last 24 hours, according to CoinMarketCap.

SHIB’s market cap currently stands at $6,445,173,444. The meme coin also saw a 24-hour trading volume of $626, 218, 864. This number is down by 15.21% from yesterday.