Shiba Inu is a sort of cryptocurrency that is only available online. After doubling in value in 2021, it trades at fractions of a cent. Even yet, according to CoinMarketCap, the coin is one of the most popular cryptocurrencies in the world. However, this coin is not confused with the Japanese breed of dog that gave its name to the coin. This article will explain all you require to know about Shiba Inu.
Shiba Inu
Shiba Inu
Ryoshi founded Shiba Inu in August 2020, and its name is derived from the lovable dog of the same name. Do not confuse it with Dogecoin, a dog-themed cryptocurrency that uses the same breed of dog as its mascot. "Dogecoin killer" is what this cryptocurrency refers to itself as.
Like many other cryptocurrencies, this cryptocurrency runs on a blockchain-based decentralized computer network. Coin transactions are recorded in this blockchain database, which verifies them and keeps a record of all of them. As a result, the database shows a record of the cryptocurrency's movement over time. Shiba Inu is based on the Ethereum blockchain, ensuring its users' privacy and functioning.
This token can be bought and sold for a few cents. Approximately 200 coins equaled one cent in November 2021, when one coin traded for less than $0.00005. Despite their small price, Shiba Inu coins had a market cap of over $26 billion, thanks to CoinMarketCap's estimate of a circulation supply of $549 trillion. The total number of permitted coins is close to 1 quadrillion. Ethereum co-founder Vitalik Buterin, however, irrevocably "burned" around 40% of those currencies, indicating that they have been destroyed and can no longer be utilized.
When Coinbase introduced this token on its platform in September 2021, the cryptocurrency price surged.
What Security Measures Does SHIBA INU Use to Protect Its Network?
SHIB is an ERC-20 currency built on Ethereum's proof-of-stake network, according to the 22-page-long WoofPaper.
It's hard to say what Shiba Inu does
Tokens
When it comes to the cryptocurrency ecosystem as a whole, Shiba Inu's tokens are what keep it running smoothly:
SHIB
Trading and exchanging this currency are made possible through the use of SHIB.
LEASH
It is the most limited Shiba Inu-related coin, with 107,646 tokens in circulation. To compensate the people who validate the coin's transactions, it offers stake payouts.
BONE
Shiba Inu owners can vote on various ideas using the BONE token, which has 250 million units.
Aside from ShibaSwap, the decentralized network for trading money, and Shiboshis, a type of non-fungible token, the community offers several other features (NFT).
The cryptocurrency's white paper, which its founders refer to as a "WoofPaper," continues the canine-themed coin riff. Meanwhile, the coin's "Shib Army" refers to those who own and support the coin.
What Is So Special About SHIBA INU?
As they expand their SHIBA INU network into the NFT market, the official website welcomes dog-inspired artists from around the globe to support the "arts Shiba movement." The founders have also set up an Amazon Smile campaign to collect donations for the Shiba Inu Rescue Association, rescuing real, live Shiba Inu dogs.
The impact of Elon Musk
After initially failing to gain traction, Shiba Inu began to garner attention around the same time as Tesla CEO Elon Musk and other important figures began to show an interest in Dogecoin. One of the most outspoken proponents of Dogecoin is none other than tech tycoon Elon Musk. In just five days, the price of Dogecoin went up over 2,000 percent thanks to an appearance on "Saturday Night Live" by Tesla CEO Elon Musk, who isn't exactly a fan of cryptocurrency.
Is it wise to invest in Shiba Inu?
Investing
While Shiba Inu has seen significant gains in its limited existence, this does not automatically equate to a sound investment. It's important to know what you're buying and why it may or may not increase in value rather than focusing on price increases and becoming anxious about losing out. In most cases, cryptocurrencies aren't backed by the assets or cash flow of an underlying company.
Tangible assets back a traditional investment, and cash flow distinguishes it from cryptocurrency investment. You're putting your money into a company's long-term success when you buy shares. Aside from that, you have a legitimate claim on the company.
On the other hand, if you start investing in a cryptocurrency like Shiba Inu, you have no assets or cash flow to back up your investment. You can only profit if you sell your coins for a higher price to someone else. Optimism and speculation have been the primary drivers of cryptocurrency's growth over time. Traders profit when they can convince someone else to purchase cryptocurrencies at a higher price, a strategy known as the larger fool theory.
If traders' wells run dry, they won't be able to keep flooding the market to drive up prices. Legendary investors like Warren Buffett stay away from bitcoin because of its speculative character.
Lastly, there's the little cost of a Shiba Inu. Because they can afford to buy 1 million of these coins for $50, some traders consider it a kind of crypto lottery ticket. They believe that if the coin's value rose to only one cent, they would be rich. They'd cash in their chips even if Shiba Inu traveled to a Dogecoin trading location. The token prices may one day soar to infinity, but it's quite unlikely.
Data on the Current SHIB Price
Rising price
A total of $1,987,815,620 worth of SHIBA INU has been traded in the last 24 hours at $0.000032. Our SHIB to the USD exchange rate is updated in real-time. The token price has increased by 9.38% over the last day. The current market capitalization of CoinMarketCap is $17,735,657,819 USD, placing it at number 13. 549,059,072,028,470 SHIB coins are in circulation. However, the maximum supply is not known. This token can now be purchased on the following cryptocurrency exchanges: Binance, OKEx, FTX, Huobi Global, and Bybit.
The bottom line
The rise of new cryptocurrencies such as Shiba Inu is a reflection of the growing interest in digital assets among consumers. Before you trade cryptocurrencies or any other digital money, for that matter, it's vital to understand what you're getting into and the risks related to it. Make sure you're not putting money at risk that you can't afford to lose on cryptocurrency, which is highly volatile and not always backed by any assets. So, investing in this token is not a wise choice; you can purchase a small amount of it for fun but investing in big figures is not recommended. If you are looking for cryptocurrency signals of this token and other tokens in the market, we can provide you with guaranteed and profitable signals.
As the network's native and first-ever token, Shiba Inu is powered by the Ethereum blockchain. Shiba Inu has been the star of the crypto market this year with his dizzying price gains. But what does the Shiba Inu prognosis look like? Can Shiba Inu Really Reach $1? We would like to answer exactly these questions in this article about the Shiba Inu future.
We provide an analysis for this and take into account various observation methods and scenarios for our Shiba Inu course forecast in order to ensure an overview that is as precise as possible. From the information collected, we then create a Shiba Inu forecast for the years 2022, 2023, 2025 and 2030. Also, make sure to check and become a user of our premium account of trading view.
the Shiba Inu
Shiba Inu price in history: the course development
It is important to understand the price history of the Shiba Inu token before looking at the future prediction for SHIB. This helps us to better assess future price developments.
Probably nobody could have expected the incredible success of Shiba Inu this year. The rise of meme coins was mainly attributed to the incredibly popular Dogecoin. Despite lower volume than other DEX protocols like Uniswap and Sushi, ShibaSwap's SHIB token has seen the biggest gains so far this “October”. Recently, Shiba Inu has even been one of the 10 most valuable cryptocurrencies in the world by market capitalization.
The Shiba Inu Coin was created in 2020 and initially traded at a price of $0.000000000163. After its introduction, there was no sign of today's success for a long time. During August 2020 and January 2021, the price of Shiba Inu hardly moved and the trading volume also remained low. The Shiba Inu's first strong price increase took place in February 2021. Most likely because at that time many different meme coins like Dogecoin surged due to Elon Musk and the GME short squeeze. Shiba Inu also benefited from this meme hype. Shiba Inu price was $0.000000029100 in February 2021, an increase of 178% from 2020.
After the first big gains in February 2021, the Shiba Inu price was initially relatively volatile and between February and May 2021 price increases and price losses alternated regularly. Then, in May 2021, the hype around meme coins like Dogecoin and Shiba Inu really picked up speed and the price of SHIB exploded to $0.00003532. This enabled Shiba Inu to increase its price by a factor of 216,687. This means that a $1 investment in August 2020 would have been worth just under $216,687 at that time.
The hype about Shiba Inu then leveled off and the SHIB Coin had to record very large price losses in some cases. From October 2021, the hype surrounding SHIB increased sharply again and the price rose to a value of 0.00008616 US dollars. The Shiba Inu course rose by more than 1200% in October alone. At the beginning of November 2021, what had to follow will follow and many investors will sell their Shiba Inu coins. The Shiba Inu 's current all - time high was reached on October 28th and the Shiba Inu has already lost more than 30%.
Shiba Inu price
Shiba Inu forecast based on price development
Shiba Inu is a relatively new cryptocurrency (Altcoin), which of course means that there is still no long-term history of this cryptocurrency that can be used for the Shiba Inu forecast. Nevertheless, some technical analysis can be derived on the basis of the price development so far.
Short term Shiba Inu prognosis
SHIB token price surged to $0.000060, which is about 725% up from this month's low. The Shiba Inu price rose 28% on Oct. 27 to hit a new all-time high of $0.0000595. If SHIB attracts more users in the coming months, the price could break out again and even reach $0.0000823 by the end of 2021. On the other hand, if Shiba Inu volatility increases, the price can reach the potential bottom at $0.00000367. The expected top price that Shiba Inu could reach in the short-term will be around $0.0000823.
Medium-term Shiba Inu prognosis
If this year sees a high for the crypto market, then Shiba Inu could start trading 2022 with a bullish price point at $0.000018. However, given the volatility issues, the price could lose momentum. Then the Shiba Inu price could be as high as $0.000006 in 2022.
If the network's own DEX is launched and runs flawlessly by 2022, the price could crack a mark of $0.00003. However, if Shibaswap does not become a practical reality under the usual buying and selling pressures, the average price of SHIB would be $0.0000228. On the other hand, should PoW become a hot topic of discussion among various crypto celebrities again, there could be a possible market crash in the next year. In such a case, we can expect the price to reach the support level at $0.0000193.
Shiba Inu prognosis using the amount of money available
A popular and extremely bullish scenario for the distant future of crypto is the adoption of a new and decentralized financial system built on top of crypto. Assuming that in the future many financial transactions would really be processed via cryptocurrencies, this would mean a very positive development for the entire crypto market.
This assumption is difficult to quantify in numbers. However, the following scenarios are theoretically conceivable:
- Medium Scenario: In a medium scenario, cash, checking accounts, time deposits and money market accounts are replaced by cryptocurrencies. The current money supply of around $130 trillion would be replaced by crypto.
- Offensive Scenario: If cryptocurrencies were used to settle all global assets, including stocks and central bank balances, that money supply would currently be around $420 trillion.
Although it may seem unlikely and unimaginable at the moment, cryptocurrency adoption is increasing rapidly and it is possible that these scenarios could materialize in the distant future. However, this could probably be the case in 2030 at the earliest. Comparing the above monetary amounts to the current cryptocurrency market cap, which is around $2.765 trillion, it becomes clear that there is still a lot of room for growth.
According to the conservative estimate, the cryptocurrency market could grow by 1500%. The more optimistic estimate is 5000 % and in the aggressive scenario the market could grow as much as 15,000%. Based on Shiba Inu's current course, the following course goals could be achievable in the long term:
- Conservative Scenario: $0.00061215
- Mean Scenario: 0.0020405 USD
- Offensive Scenario: $0.0061215
So, the potential for Shiba Inu would be huge. However, these predictions also show how far Shiba Inu is from a $1 price target. Even with a 15,000% increase, Shiba Inu would still be a good way off $1. In addition, the scenarios would assume that the ratios of all cryptocurrencies to each other remain the same.
shiba inu forcast
Shiba Inu forecast using the stock-to-flow model
The price development of cryptocurrencies continues to be strongly based on Bitcoin and the price of Bitcoin is strongly influenced by the Bitcoin Halving, which takes place every 4 years. The Bitcoin halving event creates a cyclical pattern of bull and bear markets that lasts for several years. The crypto market is currently in the beginning of a bear cycle.
This cyclical pattern can be applied to Shiba Inu forecasting. The stock-to-flow model should be suitable for this. This assumes that a one-year sideways phase will follow an upward movement of Bitcoin towards USD 100,000. Bitcoin is not expected to pick up again until mid-2024. With similar momentum to early 2021, Bitcoin should surge to a staggering $1,300,000 by mid-2025, according to the stock-to-flow model. That would be a twentyfold increase compared to the current bitcoin price.
Applied to the Shiba Inu forecast, this would mean a 50% increase, after which Shiba Inu would settle at USD 0.000020405. In fact, this forecast is in line with the average of many analysts. Shiba Inu would only rise again in the course of a new crypto bull market in 2024. This cycle would then result in a Shiba Inu price of $0.0004081 by 2025.
Conclusion
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