Shiba Inu Price Prediction: The article covers all dimensions of Shiba Inu to enable you to take a considered decision on investing in Shiba Inu.
Shiba Inu token cryptocurrency was launched in August 2020 by an anonymous person by the name of Ryoshi. Shiba Inu is also the name of a Japanese breed of dog. SHIB called itself the “Dogecoin Killer” a term that implies the cryptocurrency will directly compete (and beat) Dogecoin. Shiba Inu is an ERC-20 token which means at the base it uses the Ethereum Blockchain.
It is classified as a Memecoin which essentially means that the Cryptocurrency offered little value to its users at the time of the launch. However, it has surprisingly and quickly evolved into a dynamic cryptocurrency offering a variety of utilities though one could also say that many of them are WIP.
Shiba Inu’s performance in the last 2 years
Shiba Inu was one of the best-performing cryptocurrencies in 2021 rising 1000s of times in a single year.
However, 2020 has been tough and Shiba Inu has traded lower as micro and macro factors continue to impact the cryptocurrency.
A Quick Summary of Shiba Inu’s position in the market
- Market Cap: $ 5.6 Billion
- Rank amongst all Cryptocurrencies: 16th
- Coins that are like Shiba Inu: Dogecoin, Dogelon Mars, Also called Memecoins
- Predominant Value it offers customers today: Accepted for payments by many well-known brands
- Our rating on Differentiation: 5/10 where 10 is Highly Differentiated, 1 is Not at all Differentiated
- Current Performance: Underperformer [Compared to Bitcoin and Ethereum]
- Top 10 Holders own 63%of the coins, and Top 100 Holders own 81%
- % of Holders who are currently Profitable: 23%
Shiba Inu Price Prediction, Next 7 Days, 2022, 2025 and 2030
The short-term forecasts are negative as all categories of investments are headed lower on account of increasing interest rates, rising inflation, and supply issues owing to Russia’s invasion of Ukraine.
However, the long-term future is much brighter for Shiba Inu.
Shiba Inu is already excelling in some areas
- Payment Partnerships (Gucci, Tag Heuer, AMC, Sao Polo FC tec)
- Coin Burn
Shib has aggressively moved towards building a Metaverse as most of the cryptocurrencies in that space have lower Market Caps than Shiba Inu.
What is a Metaverse? In simple words, it is a digital space that can offer an experience that can expand 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 enable users to conduct commerce using $SHIB. This looks promising but it is early days of execution as of now. The company has begun execution by auctioning Metaverse Lan
Shib has other plays as well – ShibaDex (Wallet and DEX) and Shibaswap which was meant for Staking.
Shiba Inu Price Prediction: Shiba Inu Tokenomics
- Supply at Genesis:1 Quadrillion
- 50% was locked in Uniswap
- The other 50% was burnt to Ethereum co-founder Vitalik Buterin for safekeeping
- Buterin in turn donated his share for COVID-19 relief in India and then actually burned 40% of its total supply to a dead wallet
Now, let us try to answer some of your key questions
Shiba Inu Coin Price Prediction: Will Shiba Inu go up?
Shiba Inu’s price has been a matter of concern for all the SHIB investors. But the case is the same with almost all the cryptocurrencies. However, for SHIB things have been slightly worse since January 2022. The price of Shiba Inu is down nearly 70% since January 2022 and over 80% since its all-time high in October 2021.
Why has Shiba Inu Crashed?
- One of the factors has been the Russia-Ukraine war which led to a bloodbath in stock as well as the crypto market.
- The US Fed’s decision of increasing the rate has also contributed to the crash in the price
- Lastly, the Luna crash and UST losing its stable coin tag led to a huge trust issue for cryptos. The fear for cryptocurrency increased and there has been a mass sell-off which has impacted the crypto market a lot.
The fact of the matter is Shiba Inu has outperformed Layer-1 Blockchains like Solana and matched Polkadot. Experts believe Shiba will eventually outperform most cryptocurrencies except coins with a small market cap. In terms of utility, Shib trails Ethereum and Bitcoin but because of its Multifunctionality including wide acceptance in payments, Shibaverse, and Shibswap, Shiba Inu is well placed to rise faster than most cryptocurrencies. However, its recovery will depend on the recovery of the cryptocurrency market itself which has been trending lower this year.
Shib Price Prediction: When will Shiba go up?
Our estimate from all the available data is that US Inflation is like to retreat from July or August, so it is likely Shiba Inu will go up anytime after August 2022
Shiba Inu Forecast: Can Shiba Inu reach 1 cent?
If Shiba Inu can rise at an annual rate of 10% and Burn 50% of the Coins, SHIB can reach 1 cent in about 25 years. Read our detailed analysis here
Shiba Inu Prediction: What are the Risks of Investing in Shiba Inu?
Investing in Cryptocurrencies is not for the faint-hearted. Altcoins (any coin other than Bitcoin) are very volatile and could swing 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 differentiated from the rest. That aside, Shiba Inu was not a fully differentiated cryptocurrency at the time of launch. While it is differentiating itself now, that is still a work in progress. If SHIB fails to differentiate itself sufficiently, new investors are likely to invest in cryptos that quite different from the others.
A few weeks ago, Shiba Inu’s mysterious founder Ryoshi recently deleted his social media presence and wrote a blog on medium asking the leader developer Shytoshi to focus on the project. While this had no impact on the price, it is important to be aware of this.
JUST IN: Shiba Inu founder to Shytoshi Kusama: “Please, don’t say worthless nonsense. Focus on Shib.”
CONFIRMED: This blog post has since been deleted.
Should you own more than one Memecoin?
We have observed that all the 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 one is better?
Dogecoin has outperformed Shiba Inu this year. Doge has done quite well on payment partnerships so it does have some intrinsic value and relies a lot on Elon Musk pumping the coin. Dogecoin is therefore likely to perform better than Shiba Inu when the markets are down. However, when the markets improve, SHIB would be better placed to outperform Dogecoin.
Who are Shiba Inu Whales?
Shiba Inu Whales purchase and own large quantities of Shiba Inu Tokens and hence called as such. While the media covers Whale behavior significantly, there is little evidence that influences the price beyond a few minutes or a couple of hours.
More Resources to learn about Shiba Inu
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Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.