Shiba Inu Price Prediction: Loses 14% in Week, Where's the Bottom for SHIB Meme Coin?

cryptonews.com:

Shiba Inu is one of the tokens attempting a comeback after a rough weekend in which its price fell below the $0.00000010 threshold. The digital asset, a part of the best meme coins, relies on strong fundamentals to propel it to new heights, although macroeconomic factors may slow its ascent. 

The Shiba ecosystem received a significant fundamental boost over the weekend with the release of Shiba Eternity, a trading card game that is part of the entire ecosystem.

Shiba Eternity was released for Android users in Australia last weekend, following its release on the Apple App Store a few days earlier. The trading card game has been a huge success in Vietnam, where it was previously released. According to Shiba Inu developer Shytoshi Kusama, Australia will be the game's final test country before it goes global.

Despite the game's launch, Shiba Inu dropped significantly, in line with other coins. The asset's price has dropped by 8.78% since the Ethereum Merge and the Federal Reserve's announcement of higher-than-expected inflation. SHIB had a 14% drop in the last week.

The Fed's inflation numbers have significantly affected the entire crypto market. And as a large-cap coin, SHIB has been one of the most affected in the market. 

The crypto market as a whole fell significantly over the weekend, and the recovery has been slow. This is primarily due to the Federal Reserve's expected recommendations on interest rate hikes this week.

The Federal Open Market Committee (FOMC) is expected to release figures on interest rates for the coming quarter by Wednesday. With inflation much higher than last week, there is a good chance that interest rates will rise to 75 basis points.

Bloomberg Intelligence's senior commodity strategist, Mike McGlone,