Almost every cryptocurrency lost more than half its value in 2022, and the price of SHIB dropped by about 80%. The dog-based memecoin has zoomed more than 32 per cent in the last 24 hours to $0.00002945 from $0.00002239. May 12, 2021 By Sam Sant Shiba Inu coin (SHIB) is easily the hottest new form of cryptocurrency. But it might reach 1 cent after some years of token burns and deflationary mechanics. In other words, it removes coins from the circulating supply and, in theory, makes each remaining token that much more valuable. It is not anchored on unique blockchain technology - just hosted on Ethereum, it has not achieved a medium of exchange status, and it has no real value. SHIB is trading up 29% to $0.00001037 at the time of writing. This coin is also called the Dogecoin Killer. While Dogecoin has a high chance of reaching $1 in the future, we can't say the same for Shiba Inu, at least not in its current state. Because of the nature of these coins, this is the case. Therefore, the SHIB coin is not something new. Like many altcoins, Shiba . Our algorithm predicts significant up-and-down price movementin Shiba Inu's future. Well, for starters, Shiba Inu is at the time of writing valued at $0.000020. We and our partners use cookies to Store and/or access information on a device. Can Shiba Inu coin reach 1 cent or $1? As a result, the SHIB coin is not a novel concept. As a result, the price per token is extremely lowat the time of writing, 1 SHIB is only worth $0.00001110. It would be extremely difficult, to say the least. With its unique 'dog-themed' design and meme-based marketing, it has attracted a loyal fan base and gained a lot of attention from investors. SHIB has gained about 25,000,000 percent over the past year, putting its average monthly growth at more than 2,000,000 percent. With momentum playing such a key role for digital currencies, the fear of missing out (FOMO) would be important. Many articles, YouTube videos, and forum posts claim Shiba Inu (SHIB) crypto can or have the potential to reach $0.10 in value. After reaching its all-time high in October of 2021, the token went through an intense bearish phase that has brought the SHIB price 87% below its all time highs. On October 28, 2021,. This could make Shiba Inu one of the leading cryptos to explode in 2023. Looking at the 4-hour price chart, SHIB price is preparing to trade above the EMA-20 trend line as it witnesses a spike in trading volume. (source). Shiba Inu is of course not the only contender in the meme coin sector. Dogecoin was developed in 2013 as a comical spin on the then-emerging trend of cryptocurrencies - whereas Shiba Inu was developed in 2021 as a "meme coin" that was a rival to Dogecoin. Can SHIB double again? Shiba Inu isn't a blockchain. In August 2020, when Shiba Inu made its debut, it was one of thousands of nondescript tokens looking to make a name for itself in the digital currency space. Unfortunately, developers have stated that technical issues delayed the public beta test of Shibarium. Investors were looking for the next big crypto star. The decline in 2022 is not why the Shiba Inu coin is unlikely to reach 1 dollar. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. websites is a tad more optimistic. The SHIB price is currently $0.000007949 at the time of writing. Although launched in 2020, it was in 2021 that it became popular after Vitalik sold 50 trillion SHIB tokens and donated the proceeds to the India COVID fund. According to Shiba Inu developers, Shibarium will be focused on providing cheap and fast token transactions for metaverse and gaming use cases. Despite its low price per unit, Shiba Inu has surpassed 1.3 million unique addresses . Shiba Inu's performance in 2021 was spectacular, and many expected it to continue the same run the following year. Is it expected to reach $10 or more in the next five years? No, Shiba Inu will probably never reach and sustain a $10 token valuation. The price has recently dropped to $0.0000082. Burning the SHIB token is a way to reduce the total supply. Having read the woof paper from start to finish, the end goal of the devs is to create the largest decentralised ecosystem in the world. The following are the advantages: While most crypto users are already aware of SHIBs meme token, it is trying to expand beyond its preliminary public image, with a rising community that includes a DEX, NFT, and a game influenced by Shiba Inu. SHIB is determined to transform into a comprehensive ecosystem with a metaverse and blockchain games, with the incipient liftoff of Shibarium, a Layer 2 solution that will facilitate faster transactions and lower gas expenses. Since its launch in August 2020, Shiba Inu Coin (SHIB) has become one of the most talked about cryptocurrencies on the market. So, despite SHIB being similar to other ERC20 token coins, the community is the differentiating factor. It is not only the first but also the most popular cryptocurrency in the world. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Cryptos are Consolidating! Put another way, a $1 investment at midnight on Jan. 1 would have made you a millionaire by late October. According to the US government, the country collects $4 trillion in taxes each year. And even Shiba Inu token developers know it. So, for the long-term investor, it's best to consider more promising cryptocurrency opportunities. Upcoming developments. While Dogecoin has a. Unlike Apple, Tesla, or Microsoft, it is neither a product nor a platform. For starters, it has no real value. Shiba Inu's coin supply totals 549 trillion. As we dig in, Shiba Inu is the largest token held by the dollar value among the largest 100 ETH whales. The Motley Fool has positions in and recommends Ethereum. On Wednesday, the price of Shiba Inu coinwhich trades as SHIBsurged 33% to reach an all-time high of $0.00005478. There are presently 549 trillion SHIB coins in circulation, according to CoinMarketCap. In today's episode, I discuss when Shiba Inu Coin will reach a penny! Its an Ethereum-based smart-contract cryptocurrency, comparable to Binance Coin (BNB), Tether (USDT), Chainlink (LINK), USD Coin (USDC), TRON (TRX), and others. SHIB Burn Rate Turns Out Extremely Low In February So, if the market cap of Shiba Inu would be so outlandish if SHIB reached $1 or even $0.01, why do we see people mentioning these price targets so often on social media platforms? The hype surrounding Shiba Inu ( SHIB) is still there amid ongoing discussions on whether it faded away or not due to recent on-chain metrics. The coin has also benefited from the recent resurgence of interest in cryptocurrencies, as more people seek to diversify their portfolios and take advantage of the potential for high returns. A move beyond $0.00000941, a hurdle represented by the 100-day EMA, could clear the path to the upper falling trend line. Are You Bored with Shiba Inu? CoinCodexs SHIB prediction does not see it being worth 1 cent by 2024. Several factors contributed to this. It is to outpace Dogecoin and beat its market capitalisation even if the SHIB token prices remain under a penny. Many publications, YouTube videos, and forum postings say that Shiba Inu (SHIB) cryptocurrency can or will reach a value of $0.10. And why do they not believe it can hit $10 in the next 5 years? Assuming SHIB gains just 200 percent per month, the crypto could. Can Shiba Inu Reach $1? The Motley Fool has positions in and recommends Ethereum. Yesterday, Shiba beat Ethereum in 24-hour trending volume collectively on DEX and CEX. Shiba Inu's biggest catalyst yet may be days away. At a $0.10 valuation, the total market cap of SHIB will be $54.9 Trillion, which is 2.5 times of US GDP, 54 times more than Bitcoin, 100 times more than Ethereum, 27 times more than Apple (AAPL), and 55 times more than Tesla (TSLA) market cap. Shiba Inu: A Brief Overview. This could drive the SHIB price to 1$. Instead, this is due to several features unique to the token. SHIB, on the other hand, is a cryptocurrency based on ERC20 tokens. Shiba Inu Price Explodes By More Than 90% since Jan! The GDP of the entire planet earth is around $80 Trillion. Shytoshi Kusama, the developer, tweeted on December 24 that Shibarium is nearly impossible to show up before the end of the year due to the holiday periods. That is why Bitcoin is the most popular cryptocurrency. Even so, this sharp rise was overtaken by the latest doubling of the Dogecoin price. Overall, the Shiba Inu price was lower after the crash than it had been earlier. This sparked a cryptocurrency rally. Dogecoin is a cryptocurrency that exists independently of Bitcoin. The will shiba inu coin reach 10 cents is a question that many are asking. At a price of $0.01, SHIB would have a larger market capitalization than the three largest companies in the world combined. As of writing, SHIB's price trades at $0.00001234, with a decline of 0.64% in the last 24 hours. However, SHIB was not spared during the cryptocurrency bear market of 2022. As a result, basic logic dictates that the SHIB coin will never attain a value of $0.10 or 10 cents. 1$ SHIB Price Possible? Popular meme token Shiba Inu (SHIB) is stirring up some excitement. The Shiba Inu coin, similar to Dogecoin, is a meme-based cryptocurrency that was created in August 2020 by an anonymous person (or a group of people) who go by Ryoshi. The United States entire Gross Domestic Product (GDP) is about $20 trillion, whereas Chinas GDP is roughly $14 trillion, according to the Federal Government. Shiba Inu (SHIB) will never reach $0.10 or ten cents. We know Shiba completely community backed currency and more people keep holding their investment it keeping pushing price upward. Heres a table that shows the market cap of various popular stocks and metals in the world. Above prediction is based of average performance of shiba inu from past 6 months. Shiba Inu was launched in August 2020 without much fanfare. Another point against SHIB reaching $1 is its supply inflation according to our data, the supply of Shiba Inu increased nearly 8% year-over-year, which makes the prospects of SHIB hitting a $1 milestone all the more unlikely. While it might be difficult to decipher with so many zeroes following its decimal point, Shiba Inu gained an almost unfathomable 121,109,489% in under 10 months. Its meteoric rise has made many speculate whether it could even rise higher. Saudi Aramco is in second place with a market cap of $1.88 trillion and Microsoft comes third with a $1.75 trillion market cap. It is not anchored on unique blockchain technology - just hosted on, Price prediction websites, crypto experts, and even, website paints a rather grim future for the altcoin. SHIB Price Prediction, As we can quickly deduct from the table above, the likelihood of the Shiba Inu price coming anywhere close to $1 at current levels of circulating supply is simply not feasible. In the best-case scenario, it projects that SHIB's price could reach $0.000270 by February 2024, accounting for the technical analysis data aggregated on February 6th. we know in term of safety of trading it already passed criteria of Binance and Coinbase exchange. We will concede that this answer could change dramatically in the future. But over the past decade, cryptocurrencies have turned this traditional moneymaking strategy on its head. While the coin first dipped by over 94% in its first year of trading, the price of Shiba Inu exploded in 2021, recording a massive 43,220,000% growth and hitting an all-time high of $0.00008819 in October 2021. The price dropped dramatically from $0.000014 to $0.000009. Even though many crypto investors dismiss meme coins outright, the fact remains that SHIB is the 13th largest crypto asset by market capitalization, surpassing the likes of Litecoin, Polkadot and TRON. They are also working on an Ethereum Layer-2 solution Shibarium and a Shiba Inu Metaverse. Other projects being worked on by the Shiba Inu team include the ShibaSwap decentralized exchange, the Shiboshis NFT collection and SHIB: The Metaverse. Because investors may be wondering if Shiba Inu is getting ready to deliver a performance like that of 2021. Response from investor and real user are unreal because it giving tough competition to dogecoin community in term of voting. With one Quadrillion SHIB tokens around, getting to $100 per token would mean creating an unutterable market capitalisation of $100 Quadrillion for the Shiba Inu network. Shibarium envisions being an ecosystem from which potential Shiba Inu projects will come up. As we can quickly deduct from the table above, the likelihood of the Shiba Inu price coming anywhere close to $1 at current levels of circulating supply is simply not feasible. serves as the required gas token for operability within Shibarium, we also would now like to formally announce that each #Shibarium transaction will burn ? Shiba Inu is a decentralized cryptocurrency that was launched in August 2021. Dogecoins massive price increase in the early part of 2021 led crypto speculators to look for the next Dogecoin, and the market settled on Shiba Inu as the best candidate. This is an easy to use online charting tool that requires no downloads or prior knowledge. They are, however, not convinced that the token can reach $100 or $10 in the next few years. But the cryptocurrency's potential is limited -- and as we saw last year, declines may happen quickly at any moment. SHIB jumped 35% in the past 24 hours! Shibarium is being established as a layer-2 blockchain to improve the scalability of Shiba Inus host chain Ethereum. Is Shiba Inu Price BULLISH? Though it expects Shiba Inu prices to carry on with an uptrend, their analysis indicates the highest that SHIB token prices can reach $. There is a 0.977 correlation between the price of Dogecoin and Shiba Inu in the last seven days, and as meme coins, both tokens have had similar price performances. Named after the quirky breed of Japanese hunting dogs, Shiba Inu Coin ( SHIB-USD) has surged from $3 billion in market cap to over $30 billion in the span of a few weeks. As a result, Crypto traders are keeping an eye on. As noted, Shiba Inu is an ERC-20 token on Ethereum's blockchain. How will Shiba Inu Perform in Q1 of 2023? Its not only the pioneer but also has the most prominent crypto following in the world. Just like the broader crypto market, the Shiba Inu (SHIB) price is currently at a crucial turning point from a technical chart analysis. So expecting Shiba Inu's price to reach 1 cent without any context is unrealistic. They are cumulatively holding $601 million worth of SHIB tokens. There is little indication to believe that the burn rate will be sufficient to propel the price of Shiba Inu to 50 cents. It could even take years of sustained positive performance for that to happen. Though it has a loyal following on social media, people cheering in the stands doesn't change the fact that Shiba Inu offers no competitive advantages. From the fundamental side of things, the Shiba Inu team is working on several products that are geared towards making SHIB a more attractive token to hold. Unfortunately, Shiba Inu (SHIB) will never reach $0.10 or 10 cents because it is financially illogical. Elon musk recently asked to reveal how much he holding Shiba token and he replied none. we have seen shiba in the list of top gainers crypto on Coingecko and CoinMarketCap tracking platform. Continue with Recommended Cookies. This gives it a lot more potential use cases, as the token can easily be deployed in decentralized finance applications. Meme coins like Dogecoin and Shiba Inu Coin were particularly popular. Shiba Inu Traded Volume SOARS! Sometimes, we refer to such cryptocurrencies as penny cryptos. For the last 7 days, Shiba Inu prices have been fluctuating and trading within the $0.000020 and $0.000022 range. Currently trading at $0.000020, the, For starters, it has no real value. And while the pressure on Bitcoin - which was the epicentre of the shock - has cooled down. The Motley Fool has a disclosure policy. On the one hand, Peter Mallouk, Creative Planning CEO, stated that . Let's elaborate. Shiba Inu Prediction 2025 Can the Meme Coin Repeat Its BOOM? Solanas Network Outage: A Sign of Trouble for Investors? LATEST Shiba Inu Prediction 2022: BUY SHIB at the current SUPPORT? Before the last 2021 crypto market rally went up in smokes in December, particularly at the height of the Shiba Inu rally, some highly optimistic crypto price forecasters had indicated that it might reach $1 by the turn of the decade. //. According to CoinMarketCap, there are currently 549 Trillion SHIB coins in circulation. At a $0.10 valuation, the total market cap of SHIB will be $54.9 Trillion, which is 2.5 times of US GDP, 54 times more than Bitcoin, 100 times more than Ethereum, 27 times more than Apple (AAPL), and 55 times more than Tesla (TSLA) market cap.

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