During the meme-tokens season of 2021, the Shiba Inu coin gained a lot of value. While the SHIB price was suffering from the bears season, the community didn’t lose belief in the project and kept working on it. Recently market analysts noticed that the SHIB token has all the chances to return to the uptrend. Read our Shiba Inu price prediction to see what is going to happen to the project.
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SHIBA INU Fundamental Analysis
Shiba Inu is a meme token featuring the picture of the Japanese dog breed of the same name. At the very beginning, it was positioning itself as the main rival of Dogecoin, as it is also one of the dog tokens, but implemented on the Ethereum blockchain. It copies the mining algorithm of DOGE.
Besides opposing the DOGE token, the Shiba Inu project was created to show that the crypto project can be completely run by the community. It is one of the many dog-themed cryptos that appeared in 2021 on the wave of hype of Dogecoin reaching from $0.00002 to $0.75.
Shiba Inu was listed on the biggest US-based cryptocurrency exchange Coinbase which caused the token price to jump. During the bull rally in 2021, the SHIB token was the leader among the gainers as its price grew by around 40000%.
Shiba Inu was launched in August 2020 by an anonymous developer under the name Ryoshi. He describes himself as nobody and warns that if anyone will be able to deanonymize him, they will be disappointed. He also declares that he owns no SHIB tokens and also that no person is accountable or responsible for the project.
The SHIB token gained a lot of attention shortly after its launch mainly because of the support from bright personalities such as Elon Musk and Vitalik Buterin on social media. Many community members believed that Buterin is the person behind the Shiba Inu project, but he denied it on Lex Fridman's podcast on June 5, 2021.
Starting from the first day the SHIB token had a supply of 1 quadrillion, 50% of which were locked in Uniswap and another 50% were sent to the co-founder of Ethereum Vitalik Buterin, who later donated part of this money to help the COVID-19 outbreak in India and burned most of the coins to a dead wallet because he didn’t want to be a “locus of power”. According to the founder of Shiba Inu, true decentralization began from that day. In his blogposts, Ryoshi was expressing the hope for Shiba Inu to become a globalized exchange of power.
The main reason behind the success of the token is enormous support from the community: in October 2021 the token holders collected half a million signatures for the token to be listed on Robinhood, and later started an initiative to make SHIB accepted as payment in McDonald’s. But the main value in it is that the community aspires to create utility for the project.
As an ERC-20 token SHIB is compatible with the Ethereum ecosystem which allows the project to expand. SHIB has its own decentralized exchange called ShibaSwap where the users can exchange and swap their tokens without an intermediary.
The project also includes its DAO and NFT platforms. Moreover, in 2022 it has attracted a lot of attention thanks to the token burns. Since the end of October 2021 over a million Shib coins were burnt.
In the latest blog post, Ryoshi said that they going to develop a Layer-2 solution that would be better than Polygon and Binance Smart Chain. Layer 2 will be called Shibarium and will be released soon, though the date is not specified.
SHIBA INU Live Price Chart
Last summer when the crypto market was going through the bearish season, the SHIB token was trading for around $0.0000063. Even though at the end of July the crypto prices started to grow Shiba Inu reached only $0.0000081. It went even lower and dropped to 0.0000072 at the end of August.
For a little longer than a month the token stayed stable slightly bouncing between 0.0000060 and 0.0000078. The situation started to change at the beginning of October when the meme-token season started. On October 3 the price of the Shiba Inu coin was $0.0000085 and the next day it rose by over 30% and then skyrocketed. On October 11 the price of the Shiba Inu token was 0.000030 and after staying stable for two weeks it jumped even further.
The SHIB coin reached its all-time high of 0.000088 on October 28, 2021. From that date and for the next 2 months, the price of the Shiba Inu native token was declining and lost about 60% of its value. On December 19 it reached 0.000030 and flipped the trend.
The Shiba Inu token started the year trading at 0.000034, but in 10 days went down to $0.000026, recovered to $0.000028, and fell to 0.000020 until the beginning of February. On February 8 it jumped back to $0.000032 but managed to maintain this price only for a week. From February 17 the SHIB coin started to lose its value and by the middle of March reached $0.000021.
At the end of March, the crypto market was showing signs of recovery which didn’t help Shiba Inu reach higher than $0.000026. Till the beginning of May, the token stayed slightly declining and on May 12 it collapsed to $0.000010 as all the crypto market went under the hard correction wave. At the end of June, the price reached as low as $0.000008, meaning that SHIB has lost all the gains since the last year.
In the last 3 weeks, the token was making attempts to grow and established a new resistance level of $0.000012, while trading for $0.000010 most of the time. Recently the token has been showing bullish signals and investors expect its value to go up.
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.
SHIBA INU Price Prediction
SHIBA INU Price Prediction for 2022
SHIBA INU Price Prediction for 2023
SHIBA INU Price Prediction for 2024
SHIBA INU Price Prediction for 2025
SHIBA INU Price Prediction for 2030
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.