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
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.
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:
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