|Will Shiba Inu Go Up?: Shiba Inu is clearly in better shape as compared to DOGE. SHIB has gained 13% while DOGE has lost 80% of its value from its Initial Coin Offering.|
Will Shiba Inu Go Up? About SHIB
Shiba Inu was launched in August 2020 as a joke to mark Dogecoin’s popularity without providing any intrinsic value. SHIB was launched by an anonymous group or individual named Ryoshi, it is based on Ethereum’s blockchain i.e., ERC-20. Being built on Ethereum’s blockchain means that it can provide benefits such as DeFi (Decentralized Finance), and make good use of Smart Contracts. However, the real deal is the community’s passion that will keep SHIB alive in the long run. Additionally, Ethereum’s upcoming merger will also solve many issues that any token running on Ethereum’s blockchain is facing such as scalability and time taken to execute a transaction.
Will Shiba Inu Go Up? Recent Developments in SHIB
But the Shiba Inu community has come to a realization that it can only rise if it gets rid of the meme coin tag and have some utility. To do that SHIB has come up with many projects
- Burn SHIB: SHIB developers are in the process of introducing a platform that would allow holders to burn SHIB tokens, which would reduce the number of tokens in circulation, and would reduce the burden of lack of scarcity.
- SHIBVERSE: Shiba Inu is making a jump for the metaverse space, since it is on the rise, shibverse’s entry should be easy since it is an already established coin.
- SHIBARIUM: SHIB is built on Ethereum’s blockchain which charges humongous GAS fees which hinders the investors to transact and decreases the flow of tokens or fiat money in the market. To counter this, SHIB developers are making their own blockchain which would remove GAS fees, which may or may not be replaced by some other charge by the developers.
Will Shiba Inu Go Up? DOGE vs SHIB
Given that they are both meme coins, for now, it is better to compare their past performances and see which performed better, DOGE or SHIB? Shiba Inu’s trajectory was more volatile than DOGE’s. Despite the boost by Elon Musk and others, DOGE came down after a short time of going up.
This chart compares the two from the beginning of their Initial Coin Offering (ICO) and it shows that Shiba Inu is clearly in better shape as compared to DOGE. SHIB has gained 13% while DOGE has lost 80% of its value from its Initial Coin Offering.
Will Shiba Inu Go Up? What did Others say?
Will Shiba Inu Go Up? When will Shiba Inu reach $0.1?
To get an estimate of how SHIB can wound up, this should be a reference. There are high chances that SHIB would offer more than 50% returns. Given the volatility of the market, it can also end up growing more than 100% in some years. But for SHIB to reach $0.1 it would have to multiply 1000x.
|% Of Growth||Number of Years|
|10% Growth||98 Years|
|20% Growth||52 Years|
|30% Growth||37 Years|
|40% Growth||29 Years|
|50% Growth||24 Years|
|60% Growth||21 Years|
|70% Growth||19 Years|
|80% Growth||17 Years|
Will Shiba Inu Go Up? Conclusion
Yes, Shiba Inu is destined to go up, however, its probability of reaching $0.1 cannot be answered, however, its chances of reaching close to it are very plausible considering the recent project announcements that can boost its value from just being a meme coin. However, these predictions and assumptions can turn around if the SHIB community is unable to launch its under-development projects.
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.