The crypto market has seen ups and downs with new cryptocurrency that kept emerging, giving tough competition to each other. The Shiba Inu, which came into play only last year, is said to be the dogecoin rival.
Did you know that though only found last year, currently there are around 400 trillion Shiba Inu coins in circulation?
Shiba Inu gained a lot of traction in a very short span of time that filled the pockets with decent gains. Do you want to hold some, yet misty about the future price movements?
Then you have landed in the right place, as this piece of writing contains all the necessary information.
|Circulating Supply||394,796 billion SHIB|
|All time high||$ 0.0000388 (May 10, 2021)|
|All time low||NA|
Fundamental Analysis of SHIB
Unlike the dogecoin, Shiba Inu is powered by Ethereum blockchain and are having plans of introducing the Bone dogecoin killer, shortly. It has its logo as the Shiba Inu, a hunting dog breed just like the dogecoin. Shiba Inu has its cryptocurrency, the Shiba token(SHIB) as a decentralised one, just like the other cryptos.
Founded by an anonymous person, Ryoshi, SHIB has its value outgrowing that of Dogecoin. One major reason for the Shiba token’s uptrend is that many popular Chinese investors are interested in this crypto. The prices are seen to skyrocket because different Chinese influencers are promoting it on various platforms.
Let’s have a deeper insight into the currency’s fundamental analysis.
- The founder of Shiba Inu is still unknown and only the name ‘Ryoshi’ is associated with it.
- The coin has been named after the Japanese dog breed, Shiba Inu similar to dogecoin. Even the platform and model are similar to that of Dogecoin.
- The price of the token was seeing a significant surge but remarkably fell on May 13.
- It fell to $0.000018, when Vitalik Buterin, a Russian organization donated about 50 million Shiba tokens to India as Covid Crypto release fund.
- The fungible tokens use ERC-20 and non fungible tokens use the ERC-721 token standards of the Ethereum platform.
- These tokens have almost ten exchanges like Shibaswap, Kucoin and Binance.
- In India, WazriX is the best platform to trade Shiba tokens. Currently, here they are traded between $0.001417 and $0.001419.
Fun fact about Shiba Inu
Shiba Inu is aiming to replicate Dogecoin. Just like how foregoing turned it from a meme coin into a money-making machine. It also has the same logo as dogecoin and works on the same process. That is why it is popularly called the Dogecoin killer.
SHIB Price prediction for 2021
The price of Shiba Inu is believed to increase for the next coming years. It is predicted that by the end of 2021, the price will increase and reach $0.00002023, which is twice its current price.
SHIB Price prediction for 2022
Following the surge to happen in 2021, it is expected that the price of Shiba tokens will further increase in 2022 also. By the end of 2022, it might reach $0.00002230.
Price Prediction For Next 5 Years
The following years are also predicted to see increase in the prices. It is estimated that the price may reach $0.00003106 by the end of 2025 and further keep increasing. By the end of five years, it may reach $0.00003860.
According to their prediction, the price will reach around $0.000030 by June, 2021. They also believe that the price will further increase and by the end of the next five years about 0.000048 USD.
According to digitalcoinprice, the price of Shiba Inu will not go downward and will reach about $0.00004398 by the end of six years from now.
Their predictions say that Shiba Inu is a good investment and the price values will increase. They believe that the price will reach $0.0000316 by the end of 2022.
Shiba Inu has seen a good uptrend and is believed to increase even in the upcoming years. By the end of 2022, it might reach around $0.000022 and is believed to reach $0.000037 by the end of next five years.
Historical Market Sentiments
2020 and 2021
The coin was found in August 2020 and it never saw the considerable price and remained negligible until April 2021. By April 20, it reached its first price of about $0.000009 and surged quickly to $0.000038 by May 9, 2021. But recently, on May 13, it saw a drop of about 40% and reached $0.000018.
Yes, according to the predictions it is good to invest in Shiba tokens. The long term earning potential is +102.32% in one year.
The highest price will be about $0.0000512 in the coming years.
Considering the price movements and predictions, the price may reach a penny in future
SHIB tokens can be bought on major trading exchanges like Binance, Okex, etc, and can be swapped on DEX like Uniswap.