Bitcoin, Dogecoin, & Shiba Inu Crypto Price Predictions For August 2022 - How Will Top Crypto Perform?

Last Updated July 26th 2022
4 Min Read

Here is everything you need to know about the Bitcoin, Dogecoin, & Shiba Inu price predictions in August 2022

Bitcoin (BTC)

Bitcoin (BTC) continues to dominate the cryptocurrency market more than a decade after it launched. Despite its massive volatility, Bitcoin has been gaining upside momentum over the years. Currently, Bitcoin is trading at above $47k and has been green throughout March. 

Since hitting lows of $32k in January, Bitcoin seems to have bottomed out and is regaining the bullish momentum that characterized its price action for most of 2021. The crash that started in November 2021 when Bitcoin was trading at $69k was triggered by fears of a possible interest rate hike in the United States. Bitcoin rising again is an indicator that the interest rates news has already been factored into the market. 

That doesn’t mean that Bitcoin investors have not felt the heat, though. Bitcoin’s crash from $69k to lows of $32k saw analysts temper their predictions. Back in 2021, there were lots of projections that in a matter of months, Bitcoin could easily be trading at over $100k. That’s not the case anymore. 

For instance, JP Morgan has already cut its long-term forecast for Bitcoin from $150k to $38k. Interestingly, analysts are turning bullish again in the short term, now that Bitcoin is gaining upside momentum again. 

According to The Economy Forecast Agency, Bitcoin price will likely to hit $25,218 in August. 

Previsioni Bitcoin is also bullish on BTC. Their Bitcoin price prediction for August 2022 is $32,526. 

Such bullish predictions for Bitcoin are also a signal to look into altcoins. That’s because, if history is anything to go by, a new Bitcoin bull cycle is always followed by an altcoins rally.  

If you are looking to diversify into altcoins that could outperform Bitcoin in a new bull cycle, let’s go through some price predictions for other cryptocurrencies with good prospects in August 2022. 

Check Out: Bitcoin (BTC) Price Prediction 2022 and Beyond

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Dogecoin (DOGE)

Dogecoin has underperformed for many months. Since it hit highs of $0.73 back in May 2021, Dogecoin has been on a downward spiral. It is currently the 12th largest cryptocurrency and has a market cap of $19 billion. 

Despite its sluggish performance, Dogecoin is known to pull surprises. Anyone who got into Dogecoin towards the end of 2020 and invested just $1000 made a profit of $32,000 by May 2021. With Elon Musk making it clear that DOGE is his favourite and even campaigning for its adoption, Dogecoin can pull another surprise.

That said, analysts have diverse opinions on Dogecoin. Some crypto analysts believe Dogecoin’s rally in 2021 was an extraordinary event and is unlikely to repeat. 

However, some analysts have a pretty bullish outlook for Dogecoin, with the market turning bullish again.

Previsioni Bitcoin has a Dogecoin price prediction of $0.09 for August 2022. The Economy Forecast Agency has similar outlook for Dogecoin in the short term, though. They have a Dogecoin price prediction of $0.07 for August. 

Don't Miss: Dogecoin (DOGE) Price Prediction 2022 and Beyond

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Shiba Inu (SHIB)

Shiba Inu was one of the best cryptocurrency performers, not just in 2021. To give you an idea of how high Shiba Inu went, anyone who bought $100 worth of SHIB in late 2020 was sitting at $50 million when it hit highs of $0.00008845 back in October 2021. 

Many analysts agree that Shiba Inu may never see millions of percentages in gains again. However, they mostly agree that SHIB is still a good investment, especially now that Bitcoin is turning bullish again. 

The Economy Forecast Agency has a price prediction of $0.0000123 for Shiba Inu for August 2022. Interactive Crypto is also pretty bullish on Shiba Inu in the short term. As per Shiba price prediction, Shiba Inu to hit a high of $0.000049 by August 2022. 

Whichever prediction you choose to go with, analysts believe that you could make between 20% and 90% return on investment with Shiba Inu. 

Read Also: Shiba Inu (SHIB) Price Predictions

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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