On Monday, the price of Shiba Inu (SHIB) experienced volatility, rising to $0.000009 before dropping to $0.0000087, where it currently sits with a 3% increase. The rise may be attributed to large buyers, as SHIB whales purchased over 21.5 trillion tokens last week.
However, the price of SHIB has failed to retest its 21-Day Moving Average for the third time in a month, indicating that the downtrend may persist. To reach $1 per token, SHIB's market cap would need to reach approximately $590 trillion, which is unlikely given its limited utility compared to Bitcoin and Ethereum. Investors may want to consider alternatives with low market caps, such as AiDoge (AI) and Love Hate Inu (LHINU), which offer solid use cases and utility.
Additionally, Love Hate Inu and Copium have seen explosive rallies in the cryptocurrency market, with Love Hate Inu expected to gain popularity in 2023 due to its combination of meme coins and current affairs, while Copium's unique features make it an attractive option for crypto investors.