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SHIBA INU Fundamental Analysis
Shiba Inu (SHIB) is an ERC-20 token called “an experiment in decentralized spontaneous community building” by its founder known as Ryoshi. Launched as a meme token in 2020, it became the biggest hype in the spring of 2021. Such popularity has been caused in part by the growing awareness about the existence of the meme coins (SHIB is dubbed “Dogecoin killer”) and in large part by Elon Musk’s tweets. Its team is also inspired by the WallStreetBets subreddit going up against the Wall Street giants as an example of the decentralized collective effort. The principles described in Shiba Inu Woof Paper are: building something from zero, forging a community without preexisting connections, and, of course, the love of Shiba Inu dogs.
SHIB is a part of the growing ecosystem being developed by the same team. There are also the LEASH and BONE tokens within the same ecosystem (and more tokens are in the works); the big project of the summer of 2021 is a decentralized exchange called ShibaSwap where those tokens are listed. Another known project is the Shiba Artist Incubator, which encourages artists in the community to create Shiba Inu NFTs. There are also other far-reaching plans, such as building SHIB’s own level 2 blockchain Shibarium, which in the long run should help with potential scalability issues and also may influence Shiba Inu's price in the future.
SHIBA INU Live Price Chart
Shiba Inu coin price shot up in the first half of May 2021, finally gaining its moment in the spotlight after months of relative obscurity and hitting its all-time high of $0.0000388. After that, the Shiba token experienced the same dip as the whole crypto sphere, following the Bitcoin bearish pattern.
In the first half of the summer of 2021, SHIB price has been fluctuating between $0.00000500–0.00000900, with the dips getting smaller over time. The current interest in Shiba Inu crypto is fueled in part by the ongoing developments, for example, it was trading at local highs around the ShibaSwap release date. Furthermore, Dogecoin’s success grants Shiba a chance for future pumps and an advantage of sympathy trading, and Shiba’s market is still relatively small, thus having a lot of potential. So, the Shiba Inu price prediction chart may show a lot of growth in the future.
SHIBA INU Technical Analysis
By mid-July 2021, Shiba Inu token price kept trending downwards, albeit more slowly than before. It failed to break out of the $0.000009 — $0.00001 resistance area and formed a descending wedge. It’s had very strong support at around $0.000005 – the lowest it has been since the beginning of May, which gives a reason to think it will bounce off this line even if it gets there. However, as it’s been said, the downward trend has slowed down, showing signs of consolidation, so it looks like a waiting game in the coming weeks.
As it can be clear from the analysis cited above, SHIBA INU (SHIB) projections are rather contradictory. There is no universal consensus either about positive or negative future SHIB price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the SHIBA INU projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
How much is Shiba Inu coin worth?
Shiba Inu coin future price depends on many factors, as the crypto market is highly volatile. In July 2021 SHIB price was fluctuating between $0.00000500–0.00000900.
Will Shiba Inu coins reach 1 cent?
No, Shiba Inu coin price will hardly reach 1 cent. The current trend in Shiba coin price indicates that the probability of SHIB reaching $0.01 in the foreseeable future is low, although not impossible.
Will Shiba get to $1?
From the middle of 2021, Shiba price hitting $1 seems unlikely. However, stranger things have happened; for example, the developers might surprise us with some new additions that will send Shiba to the moon.
Is Shiba coin legit?
Shiba coin does not look like an outright scam, so it’s as legit as other altcoins. The experts are unanimous in their positive Shiba Inu price predictions for 2025, which gives SHIB some additional weight.
Is Shiba Inu coin worth buying?
Shiba Inu coin price prediction for 2025 is promising, so it might turn out to be an incredible investment. In this case, it’s certainly worth getting into now. Keep in mind that as any crypto, or as any investment with potentially high reward, it also carries high risks, so any potential buyers need to do their own research and decide if Shiba Inu coin is worth it for themselves.
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