The Shiba Inu token cryptocurrency was launched in August 2020 by an anonymous person named Ryoshi. Shiba Inu is also the name of a Japanese dog breed. SHIB has termed itself “Dogecoin Killer”, a term that implies that the cryptocurrency will directly compete with (and beat) Dogecoin. Shiba Inu is an ERC-20 token, which means that it basically uses the Ethereum Blockchain.
It is classified as Memecoin, which essentially means that the cryptocurrency offered little value to its users at launch.
However, it has surprisingly and quickly evolved into a dynamic cryptocurrency that offers a variety of utilities, although one could also say that many of them are WIP.
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Shiba Inu’s performance in the last 2 years
Shiba Inu has been one of the best performing cryptocurrencies in 2021 increasing thousands of times in just one year.
However, 2020 has been difficult and Shiba Inu has traded less as micro and macro factors continue to impact cryptocurrency. It has dropped by about 75% for the year and almost 25% in the last 5 days alone.
A brief summary of Shiba Inu’s position in the market
- Market Capitalization: $4.5 billion
- Ranking among all cryptocurrencies: 17th [Down 1 in the last 48 hours]
- Coins that are like Shiba Inu: Dogecoin, Dogelon Mars, also called Memecoin
- Predominant value it offers customers today: accepted for payments by many well-known brands
- Our differentiation rating: 5/10 where 10 is highly differentiated, 1 is not differentiated at all
- Current Performance: Underperformer [vs. Bitcoin, Ethereum and Dogecoin]
- The top 10 holders own 63% of the coins and the top 100 holders own 81%
- % of currently profitable owners: 18% (down 5%) compared to yesterday
Shiba Inu price forecast, next 7 days, 2022, 2025 and 2030, June 13
Short-term forecasts are negative as all categories of investment are directed downwards due to rising interest rates, rising inflation and supply problems due to the Russian invasion of Ukraine.
However, the long-term future is much brighter for Shiba Inu.
|
Investment horizon |
Buy/Sell |
forecast |
|
|
today |
Sell |
$0.00000708 |
|
|
Next 7 days |
Sell |
$0.00000852 |
|
|
Next month |
Sell |
$0.00000651 |
|
| Max Shiba Inu Price Prediction 2022 |
buys |
$0.00001780 |
|
| Max Shiba Inu Price Prediction 2025 |
buys |
$0.00003170 |
|
| Max Shiba Inu Price Prediction 2030 |
buys |
$0.0002000 |
Shiba Inu is already excelling in some areas
- Payment partnerships (Gucci, Tag Heuer, AMC, Sao Polo FC tec)
- Burning coins
Shib has moved aggressively towards building a Metaverse as most cryptocurrencies in that space have smaller market caps than Shiba Inu.
What is a Metaverse? Simply put, it’s a digital space that can offer an experience that expands our boundaries of what we can do with our lives. Some are imagining an artificial digital replacement of the real world, while others have integrated cryptocurrencies into existing games and call them Metaverse.
Shiba Inu is building a Metaverse that will allow users to conduct a trade using $SHIB. This looks promising, but it’s the first days of execution as of now. The company started the execution by auctioning Metaverse Lan
Shiba Inu Price Prediction: Tokenomics Shiba Inu
- Supply to Genesis:1 Quadrillion
- 50% were blocked in Uniswap
- The other 50% was burned to Ethereum co-founder Vitalik Buterin for custody
- Buterin in turn donated his share for COVID-19 relief in India and then actually burned 40% of his total supply to a dead wallet.
Now, let’s try to answer some of your key questions
Will Shiba Inu Coin go up?
The price of Shiba Inu has been a cause for concern for all SHIB investors. But the case is the same with almost all cryptocurrencies. However, for SHIB things have been slightly worse since January 2022. The price of Shiba Inu has fallen by almost 70% since January 2022 and by more than 80% from its all-time high in October 2021.
Why did Shiba Inu crash?
- One of the factors was the Russia-Ukraine war that led to a bloodbath in stocks and the cryptocurrency market.
- The US Fed’s decision to raise the rate also contributed to the price collapse
- Finally, the collapse of the Moon and the loss of FSO of its stable tag led to a huge trust problem for cryptocurrencies. The fear of cryptocurrency has increased and there has been a mass sell-off that has had a lot of impact on the cryptocurrency market.
The fact is that Shiba Inu outperformed Layer-1 Blockchains like Solana and paired Polkadot. Experts believe that Shiba will eventually surpass most cryptocurrencies except coins with a small market cap. In terms of utility, Shib follows Ethereum and Bitcoin, but due to its multifunctionality that includes wide payment acceptance, Shibaverse and Shibswap, Shiba Inu is well positioned to increase faster than most cryptocurrencies. However, its recovery will depend on the recovery of the cryptocurrency market itself which has been on the decline this year.
When will Shiba go up?
Our estimate from all available data is that US inflation is like withdrawing from July or August, so it is likely that Shiba Inu will rise at any time after August 2022
Shiba Inu Prediction: Can Shiba Inu Reach 1 Cent?
If Shiba Inu can increase at an annual rate of 10% and burn 50% of the coins, SHIB can reach 1 cent in about 25 years.
Shiba Inu Forecast: What are the risks of investing in Shiba Inu?
Investing in cryptocurrencies is not for the faint of heart. Altcoins (any currency other than Bitcoin) are very volatile and could fluctuate by 5-10% every day for days together. So, if you are uncomfortable with that kind of volatility, Shiba Inu is not appropriate for you.
Some of the best performing cryptocurrencies in 2022 were very different from the others. Aside from that, Shiba Inu wasn’t a fully differentiated cryptocurrency at launch. While it is differentiating now, this is still a work in progress. If SHIB fails to differentiate itself sufficiently, new investors are likely to invest in cryptocurrencies that are very different from the others.
A few weeks ago, shiba’s mysterious founder Inu Ryoshi recently canceled his social media presence and wrote a blog about the medium asking leading developer Shytoshi to focus on the project. While this hasn’t had any impact on the price, it’s important to be aware of it.
Should you own more than one Memecoin?
We have observed that all cryptocurrencies in a category follow a similar pattern if not the same. So, perhaps from a diversification perspective, it makes sense to own 1 or a maximum of 2 Memcoins.
Shiba inu or dogecoin which is better?
Dogecoin outperformed Shiba Inu this year. Doge has done quite well on payment partnerships, so it has some intrinsic value and relies heavily on the fact that Elon Musk pumps the coin. Dogecoin is therefore likely to perform better than Shiba Inu when markets are falling. However, when the markets improve, SHIB would be in a better position to outperform Dogecoin.
Who are Shiba Inu whales?
Shiba Inu whales buy and possess large quantities of Shiba Inu tokens and therefore named as such. While the media significantly covers the behavior of whales, there is little evidence that affects the price beyond a few minutes or a couple of hours.
