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.
Table of Contents:
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 fell by about 80% for the year and almost 28% in the chaos of the last 3 days. The good news is that SHIB has outperformed DOGE by a wide margin over the past 5 days.
SHIB has also outperformed BTC, Ethereum and Doge over the past 5 days. A remarkable result for a so-called “Meme Coin”
Shiba Inu’s performance over the past 7 years
The last 7 days have been the most difficult for the cryptocurrency market. For the first time since 2020, the overall market capitalization of cryptocurrencies has fallen below 1 T$. Shiba Inu also failed to save himself from the crash. On October 5, 2021, Shiba Inu lost a “0” from its price and had since been trading for four “0s”. However, over the past 7 days, the drop in the price of Shib has led Shiba Inu to fall below its value on October 5.
From trading just over $0.010, SHIB is now trading just over $0.007.
A brief summary of Shiba Inu’s position in the market
- Market Capitalization: $4.1 billion
- Ranking among all cryptocurrencies: 16th [Highest (moved from 17th to 16th in the last 24 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: 3% (down 15%) compared to yesterday
Shiba Inu price forecast, next 7 days, 2022, 2025 and 2030, June 14
As we first predicted on Saturday last week, the short-term forecast is negative as all categories of investment are headed 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 |
Buy/Sell |
forecast |
|
|
today |
Sell |
$0.00000661 |
|
|
Next 7 days |
Sell |
$0.00000625 |
|
|
Next month |
Sell |
$0.00000814 |
|
| 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 |
Some key points of discussion today and our point of view
- Will Shiba Inu increase this week? Some analysts are pushing technical indicators that suggest a move higher and it is possible that there may be a short move higher, but the overall momentum is likely to be negative. The reason is that the factors that contributed to the fall in all cryptocurrencies did not improve slightly
- Will Shib whales drive the move higher? Fin whales have been buying in the last 5 months without a noticeable increase in price. We don’t believe this will have an impact
Shib Coin Price Prediction: Strengths and Weaknesses
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
Shiba Inu Price Prediction: Will Shiba Return to the Top?
The probability of Shiba coming back depends on the following micro and macro factors
- Proven (unpromised) performance on Shiba’s development plans: Shibarium, Metaverse and the like
- Combustion rate that should be at a higher rate than the current one
- The US inflation rate begins to fall and the Fed signals that it will no longer raise the interest rate
Shib Price Prediction: When Will Shiba Inu Rise?
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 Price 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 group of Finders recently predicted that Shiba Inu will end before 2030.
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.
