If you are looking for a more accurate prediction, we suggest reading our dedicated SHIB price prediction article here. If the abovementioned catalysts come to fruition, we will definitely see a surge in the price of the token. With the expansion of the Metaverse, games such as the one the Shiba Inu team has the potential to develop will definitely pick up a lot of momentum.
- This will naturally lead to better adoption amongst not only crypto enthusiasts but also the general crypto audience.
- The token is built on the Ethereum chain, using the ERC-20 token standard.
- Shiba Inu’s performance in 2021 was spectacular, and many expected it to continue the same run the following year.
- At a price of $0.01 per token, the entire blockchain network would carry a market cap of roughly $5.9 trillion.
- However, the huge popularity of the token brought about new opportunities for growth and expansion.
How To Buy Shiba Inu Coin (SHIB) – In-Depth
Shiba Inu feeds on driving stronger support from its community of followers. The fact that it wasn’t able to outperform the broader crypto industry, or even match its gain, might be indicative of waning interest, and that doesn’t bode well for its future. While the answer to whether Shiba Inu can reach 1 dollar is likely a ‘no,’ the possibility of the coin reaching 1 cent is much higher than $1 dollar of 50 cents. In fact, it is still very unlikely but at least theoretically possible.
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Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. Changelly has a useful price prediction tool that can be used to predict the future prices of Shiba Inu and many other digital assets. It uses AI and market research to come up with a wide range of forecasts. Changelly suggests that Shiba Inu’s price should increase over the next few years, but not without risk. After its massive run-up, SHIB has cooled off a bit, leaving many investors wondering what the future holds for this volatile digital asset.
CRYPTO: SHIB
If the new mechanism is successful in removing trillions of tokens yearly, we may reach the ‘one-cent dream’ much sooner. This hypothetical value would make Shiba Inu worth more than some of the most successful and profitable enterprises on the face of the planet, like Apple or Microsoft. Could a dog-themed meme token that lacks utility really be worth more than two tech titans that sell some of the most popular hardware and software in the world? As a result, Exodus is a popular choice for cryptocurrency users who are looking for a simple and convenient way to manage their investments.
Chromia (CHR) Price Prediction: Can CHR Reach $1?
Quite vague, yes, but SHIB will really need that supply burn to start working before it takes off. If that happens, we can expect the price of SHIB to gradually keep moving up, reaching $0.01 by 2030 at the earliest. If SHIB keeps the high demand but lowers the supply, this naturally leads to a rise in the price.
So yes, it is possible for Shiba Inu Coin to reach 1 cent; however, it will be very difficult. Most of the aforementioned CEXs have their own integrated crypto wallets. This means that once you purchase any crypto asset on the platform, it will remain on the platform in your account’s dedicated crypto wallet. However, many prefer transferring their crypto assets to external crypto wallets. Such wallets can be either software (Metamask, TrustWallet, Exodus, etc.) or hardware (Ledger, Trezor, Ngrave, etc.).
If you are into analytics, then you probably already know what a “cup-and-handle” is. Shiba Inu Coin (SHIB) is currently going through a “cup-and-handle” pattern. We won’t be getting into more detail, but just know that the price of Shiba Inu Coin (SHIB) will go down post this cup-and-handle period.
Of course, Dogecoin, as the first memecoin ever, is not going to give its place in the market this easily. We can look at the two as a mirror to Bitcoin and Ethereum, even if on a smaller scale. Although BTC doesn’t have that much utility, it is still the first cryptocurrency ever, giving it an eternal advantage.
If you are looking to invest in SHIB, then you have to take the ongoing global events in mind because they highly affect the crypto market. The reason for them to affect it is because, during a time of uncertainty, many sell their tokens for cash, which is completely understandable. Well, if we assume that reaching 1 cent for Shiba Inu Coin is a given, then we will need to wait a couple of years.
New tokens like Bonk (BONK) and Pepecoin (PEPE) could potentially take away market share from SHIB and cause its price to go down. Let’s explore the factors influencing SHIB’s price trajectory, the potential for reaching the elusive 1-cent mark and what investors need to consider in this volatile landscape. I just touched on how much the overall cryptocurrency market has surged in value since the start of last year. This benefited many of the most popular digital assets, like Ethereum and Solana.
The volatility of crypto markets makes it impossible to determine what SHIB would be worth even in the next 24 hours. So, the meme token could defy the SHIB price predictions and reach 1 cent earlier than expected. It seems extremely difficult for Shiba Inu to reach 1 cent, primarily because of its immense circulating supply of over 589 trillion tokens. At 1 cent per SHIB, the meme currency would command a market cap of $5.89 trillion, over two times the current market cap of all digital assets combined.
In the network’s Reddit AMA, a team member of the project made sure to remind the ShibArmy to stay realistic about the burn and not expect it to reach 90%. Taking into account the supply burn, we can actually try making a timeframe prediction here, although quite vague. For the section, we will assume that all of the SHIB projects are live and doing great. Additionally, we will take that the project is seeing massive adoption. If we consider this, then we can clearly say that the price of Shiba Inu Coin will never reach 1 cent. It is to burn supply in order to reduce the total SHIB in circulation, thus raising the price, without raising the market cap.
Ironically, the catalyst that brought Shiba Inu to the limelight was Dogecoin, which Shiba Inu was meant to replace. While optimistic projections exist, investors should cautiously approach such forecasts and conduct thorough research before making investment decisions. For more context on why it’s so unlikely anything could boost SHIB to a penny (at the current circulating supply), let’s take the example of Bitcoin. At its absolute peak, BTC had a market capitalization of $1.31 trillion. If SHIB were to reach $0.01, it would have a market capitalization of approximately $5.89 trillion, which would be more than 4x larger than Bitcoin at its very peak. Imagine throwing $8,000 into a speculative investment, only to return several months later to see a balance of over $5.7 billion.
Shiba Inu (SHIB -1.67%) soared a mind-boggling 45,000,000% last year, mainly due to support from fans known as the Shib Army and hope that this young cryptocurrency would take off. But even with such an enormous gain, Shiba Inu’s price remains at a fraction of a cent. Zooming out a bit, some might even make the case that cryptocurrencies have no purpose. I wouldn’t go that far, because there is some potential with this nascent and unproven technology.