What is the future of the Shiba Inu (SHIB) crypto? - CryptoKiNews

What is the future of the Shiba Inu (SHIB) crypto? – CryptoKiNews

Posted on

As the adage goes, every dog has its day. It is particularly true about Shiba Inu, a cryptocurrency named after and based on the Japanese dog breed. Since its introduction to the crypto world, the coin has grown at an astounding rate, garnering attention from investors and enthusiasts alike.

At the end of October 2021, the price of Shiba Inu crypto rose by over 173% in just a matter of a week. While this may seem like the perfect reason to invest in the currency, it is important to know that cryptocurrency, especially meme coins, is a highly volatile investment.

This article discusses the volatility of Shiba Inu, its future potential and everything you need to know about its recent price decline.

Shiba Inu’s Journey

Created by an anonymous person named ‘Ryoshi,’ Shiba Inu became an internet sensation as it gained 12505887.6%, since its inception in the crypto market. Many people who had bought billions of SHIB tokens for a few bucks became multi-millionaires. Here is a story of two brothers who put in $200 as an initial investment and saw it reach hundreds of thousands of dollars in a matter of weeks.
Shiba enjoyed a lot of success stories when the token exploded in the crypto market, however, after reaching an all-time high of $0.00003791 on May 10, 2021, Bitcoin witnessed a steep downfall and took the entire crypto market with it. Shiba Inu was also engulfed in the bearish market and kept falling for the next two weeks or so. From May 22, Shiba Inu’s price stabilized at $0.0000083 and kept it maintained at this level for the next two months. As of August 30, 2021, Shiba Inu is priced at $0.000007023 with a trading volume of $221,677,612.22 in the past 24 hours, which is a 6.31% drop from yesterday.
Shiba Inu (SHIB) runs on the Ethereum network, which is why Shiba Inu, like Ethereum, is also transitioning from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Shiba tokens are ERC-20 tokens, which are fungible and each token holds equivalent value.

Understanding the Dogecoin Killer: Shiba Inu (SHIB)

A peculiar name: at least for a digital coin, you agree. Yes. For all good reasons. As the unique features too are coupled with this unique name. The salient name relates to the mascot of a Japanese breed of dog called Shiba Inu and hence “SHIB.”

So, the most important trait of the pet “Loyalty,” comes tagged to it for all its investors too. A completely secure and decentralized meme token, Shiba Inu is a variant of the ERC20 token. In a way, it combines all significant traits of Ethereum, Bitcoin, and Dogecoin in a fusion as one in Shiba Inu (SHIB). Before we start with Shiba Inu price prediction, let’s check coin overview.

What’s going on with Shiba Inu?

Shiba Inu now has over one million investors. The milestone appears to have prompted its developers to explore further growth, with a move into gaming and the metaverse.

Metaverse-related coins like SAND and MANA have been booming in popularity over the last month, after Facebook announced it was changing the name of its overarching company to Meta.

CEO Mark Zuckerberg also made a number of comments about the metaverse – a digital universe that allows humans to interact as avatars, letting people work, shop, learn and play in virtual reality spaces without being physically together.

He told Facebook’s annual conference: “Over time, I hope that we are seen as a metaverse company and I want to anchor our work and our identity on what we’re building towards.”

Shiba Inu has hired William Volk, former vice-president of technology for Activision, to lead its charge into gaming.

Developer Shytoshi Kusama said in a blog post: “The only way to create a seven-figure game that is worthy of one million FriendShibs is to find a perfectly fitting AAA studio and build it with them. However, landing a great AAA game studio that has worked with the likes of Disney and Warner Bros isn’t enough. To manage making a game, from concept to completion, requires dedication, experience, connections and wisdom that only a few people can provide.

“I’m happy to announce that the consultant who will lead the charge for the Shiba Inu Games version of the Shiboshi game is none other than William David Volk. Will has seen the vision in full (and knows the AAA studio) so I’m actually excited to share his quote on working with on this unique project:

“I am honoured to be working with an amazing team on what will become one of the most significant games of all time.”

Where will SHIB coin be in 2025?

Shib coin is selling for about $0.0000085 per coin with a market value of $3.4 billion, so there’s still plenty of time to grow.

  • Per Market Realist, the current predictions suggest Shib coin will reach a value of $0.000019 per coin in 2022 and later hit $0.000061 per coin in 2025.
  • That would be a near 620% increase from where the Shib coin is at now, which might sound like a good opportunity to invest.

Will the Shiba token hit $1?

Market Realist laid out the plan for how Shib coin could reach the $1 benchmark, which has been a goal for Dogecoin supporters.

Shib coin would need to climb 12,000,000% to hit $1. Since January, the coin has jumped about 2,000,000% every month. So, it could — in theory — hit $1 by the end of 2021 if it keeps up that growth, according to Market Realist.

  • “If Shiba maintains that level of growth, it could reach $1 in 2021. However, if it grows at the rate of 20% per month, it would require five years to hit $1 the milestone, which points to 2025 at the earliest,” Market Realist reports.

Expert Opinions of Market Analysts on Shiba Inu’s Price

The experts in the crypto industry are divided when it comes to SHIB’s potential to reach the moon. Here are some opinions that will give you some idea before you make an investing decision:

According to Wallet Investor, Shiba Inu will touch 0.000064,  which is an increase of 814.29%. So according to them, if you invest $100 now in SHIB tokens, it can be $914.29 in 2026.
According to Market Realist, Shiba Inu can touch 0.000061 in 5 years, which is a 620% upside potential. According to them: “If Shiba maintains that level of growth, it could reach $1 in 2021. However, if it grows at the rate of 20% per month, it would require five years to hit $1 the milestone, which points to 2025 at the earliest”
According to Coin Price Forecast, ‘’The forecasted Shiba Inu price at the end of 2021 is $0.00001628 – and the year to year change +799%. The rise from today to year-end: +130%. In the first half of 2022, the Shiba Inu price will climb to $0.00002684; in the second half, the price would add $0.00000490 and close the year at $0.00003174, which is +348% to the current price.’’
A crypto expert writer at Benzinga, Liam Andrew Wright doesn’t see a great future for SHIB. He said:
‘’I am not saying that Doge, Safemoon, or Shiba Inu are baseless projects without any strong fundamentals. I am saying that these projects have risen due to social media hype and community momentum rather than their fundamentals. The fundamentals of the project are only discussed in hindsight on subreddits for the most part. Doge is the epitome of a hype play, and without Elon Musk, it would unlikely be in the place it is today.’’

Where to Buy Shiba Inu?

You can buy Shiba Inu on Binance and many other exchanges. Here are some ways to buy Shib through Binance:

  • Bank Transfer: Wire money from your bank account and buy stablecoins on Binance. Then, you can use these stablecoins to buy Shiba Inu.
  • Trade: You can also trade your existing cryptocurrencies for Shib on Binance.
  • Credit Card: Binance lets you buy Shib using your debit card or credit card, such as Mastercard or Visa.

If you live in a state with unfriendly crypto laws, you can buy Shib from KuCoin. First, you have to buy XLM from Coinbase. Then, transfer these coins to KuCoin and swap them for USDT (Tether). Finally, swap the USDT for Shiba Inu



Leave a Reply

Your email address will not be published. Required fields are marked *