Shiba Inu Coin is the main competitor of Dogecoin and basically both are based on same technology invention. But price cool off a little recently.
The current price is reached a record high of $0.000088 in late October, but has now its been dropped to $0.000049.
As the result coin fell rapidly at the end of October, which was put down to a whale moving $2.3 billion worth from their crypto wallet and this is the latest price of market.
It has stayed relatively stable since its invented , but the meme cryptocurrency has still surged by more than a ridiculous 60,000,000 per cent over the last year as compared to this year.
The market cap of just under $30 billion.
But why its so so popular, and is it possible to predict if it could continue to grow? Here is what you need to know.
What is Shiba Inu Coin?
Lets us know the something interesting about the Shiba Inu Coin. On its website, Shiba Inu Coin calls itself “an experiment in decentralised spontaneous community building”.
It was launched in middle of August 2020 and is listed on its own decentralised exchange called ShibaSwap .Its having its own exchange.
The Shiba Token website says 50 per cent of the total supply has been locked to Uniswap as per the crypto rules, a decentralised finance protocol that facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain.
It’s a very IMP note about Shiba Inu Coin.
And the remaining 50 per cent was burned to Ethereum (One of the most popular coin in cryptocurrency market) co-founder Vitalik Buterin.
“ As per the market strategy Everyone has to buy on the open market, ensuring a fair and complete distribution where devs don’t own team tokens they can dump on the community,” the website states.
However, according to Binance, “the top no 1, no 2 and no 5 wallets hold 50.5 per cent, 7 per cent and 3 per cent of total supply respectively” of the Shiba Inu Coin.
The coin’s mascot is the shiba inu dog, the same breed that represents Dogecoin. It has also called as a “Dogecoin Killer”.
Why has Shiba Inu been so popular?
The gain power of Shiba Inu coins is more as per the interest of people buying that.Some investors find coins like Shiba Inu attractive, as they offer the opportunity for quick gains.
But the at other habd However, you can also lose all your money in little more than an instant.
Jonathan Cheesman, head of institutional sales at crypto-derivatives exchange FTX, told Bloomburg of Shiba Inu Coin’s rise:
“Memes have value and have been an investible thesis in 2021. The second main reason of popularity is Lower dollar-price tokens are attractive to retail.”
The market has also been buoyed by rumours it may soon be added to the popular trading platform Robinhood. But its not yet confirmed.
The popularity of Shiba Inu Coin is increasing day by day as More than 300,000 people have signed a Change.org petition calling for its addition, and while Robinhood is yet to respond, its CEO Vladimir Tenev said the platform will “carefully evaluate whether we can add new coins in a way that’s safe for customers and in line with regulatory requirements”.
So after checking some regulatory norms its been added to exchange.
He added: “We feel very, very good about the coins that we’re currently listing on our platform. And for any new coins that we add, we want to feel equally, if not more good.”
The price prediction of Shiba Inu Coin .It does not take much to move Shiba Inu’s market – last month its price shot up purely because Elon Musk tweeted a picture of his puppy.
Musk has revealed in one note that he does not own any Shiba Inu Coin himself, but does have Bitcoin, Ethereum and Dogecoin.
Shiba Inu price prediction
Marie Tatibouet, chief marketing officer of crypto exchange Gate.io, told The Sun she expected the Shiba excitement to flatten somewhat.
“I do see some correction coming in the near term as the hype dies down a bit,” she said. So this is one type of price prediction of Shiba Inu Coin.
But according to , Jordan McCreery, founding partner of Ingrained Media, is far more bullish.
“I believe Shiba has some real potential to grow from its fraction of a cent amount to $0.01 or greater,” he said.Its all are the predections as per the market review.
In other side the Don Guo, CEO of fintech firm Broctagon, said it is impossible for Shiba Inu to ever reach the heights of $1.
“In order for SHIB to reach a dollar, it requires a market capitalisation of one quadrillion US dollars,” he told The Express. Means no one can predeict the Shiba Inu Price correctly as its depend upon the crypto market.
“In comparison, the entirety of the US National Debt is $23.4 trillion – and even that staggering sum constitutes less than 3 per cent of the amount required for SHIB to reach that price point.
The latest price prediction of Shiba Inu Coin is “Given current trends, it is more likely that Shiba will remain within its ballpark of less than a fraction of a cent.”
Should I invest in Shiba Inu?
So its soly depends on you if have risk taker and little bit knowlwdge of crypto market then you can invest into it.
People invest at their own risk and cryptocurrencies are not regulated by British financial authorities its totally depends upon the person and his research about that coin.
If we consider then All crypto investments are risky, but meme coins like Shiba Inu are particularly volatile, and you should be prepared to lose everything you invest.
The Financial Conduct Authority (FCA) warned in January: “Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money and its true because the price values and not predictable .
Even in such cases “If consumers invest in these types of product, they should be prepared to lose all their money.”
And last but not the lease “On top of being extremely volatile in crypto market , most cryptocurrencies are unregulated, which not only adds another layer of uncertainty but it will impact the investors or no protection against fraud.”
What will Shiba Inu be worth in 2022?
From the last 6 months Plenty of cryptocurrency fans have predicted Shiba Inu's value for 2022, but you should take it with a pinch of salt as it's nowhere near guaranteed because its unpredictable crypto market.
Below are the some predections of Forecaster houses regarding Shiba Inu Coin
The, crypto website Wallet Investor expects Shiba to be valued at just $0.000079 in a year's 2022 .
Meanwhile, Coin Price Forecast predicts Shiba will be $0.00019059 by the end of 2021 and $$0.00021956 by JUL 2022.
In other words, if you're hoping that the cryptocurrency to hit $1, you'll be waiting a long time its not going to happen in less time span.
What will be the price of Shiba coin in 2025?
Shiba Inu Coin
Price Prediction 2025 & Beyond
With mass adoption, SHIB Inu's price is estimated to reach around $0.000040 by 2025, a rise like never before.
How much is a Shiba in 2022?
Shiba Inu's (SHIB) price is expected to reach $0.0002 by 2022.
What will Shiba be worth in 2030?
According to a Shiba Inu price prediction by Coin Price Forecast, the token's price might be $0.00016359 (+420% from the current price), while Trading Education believes that SHIB will reach $0.0031714 by December 2030. At that point, the market cap of Shiba Inu needs to be at least $50 billion.
Is Shiba Inu worth investing?
While there is a small chance Shiba Inu could thrive over the long term because of its loyal fanbase, it's not the strongest investment right now. If you're a risk-averse investor, this cryptocurrency may not be the best fit.