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SHIBA INU Fundamental Analysis
Shiba Inu (SHIB) is an Ethereum-based 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. SHIB's principles 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. At the moment of writing, LEASH token has been issued within the same ecosystem and BONE token is coming soon (and more tokens are in the works); the team is also preparing to launch a decentralized exchange called ShibaSwap where those tokens will be listed. Another known project is the Shiba Artist Incubator, which encourages artists in the community to create 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 all may influence Shiba Inu's price in the future.
SHIBA INU Live Price Chart
Despite Shiba Inu coin has gained its moment in the spotlight in the first half of May 2021, for now it is falling off the same dip with the whole crypto sphere and continues following the Bitcoin bearish pattern. For June 2021, SHIB price remains to fluctuate marginally between $0.00000500–0.00000800. However, 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 promising for growth.
SHIBA INU Technical Analysis
SHIBA INU Price Prediction
#1. WalletInvestor SHIB Price Prediction for 2021, 2023, 2025
#2. TradingBeasts SHIB Price Prediction for 2022
#3. DigitalCoin SHIB Price Forecast for 2021, 2022, 2023, 2025
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