The Shiba Inu coin (SHIB) has demonstrated stunning success and drove its value to get to the top of cryptocurrencies by market cap. It’s also referred to as a “Dogecoin killer” because its idea follows after a popular meme-based coin DOGE.
This review will try to answer the question of whether the Shiba Inu coin’s value reaches 1 cent (while its current value ranges within 0.000061 — 0.000074, as per the end of October 2021). It also contains the price prediction for Shiba Inu coin (SHIB) for the period 2022 — 2030.
Freewallet is one of the most comfortable crypto platforms for trading with SHIB. Here you can buy, exchange and store SHIB as an ERC-20 token.
What is Shiba Inu?
The SHIBA INU coin (SHIB is its market ticker) is a token of the SHIBA INU system and was released in 2020. It is built on Ethereum, allowing for a wide range of use cases. To some degree, the project follows Dogecoin. Shiba Inu’s founder is an anonymous developer called Ryoshi. This name is translated as “fisherman” from Japanese. One of his blog posts states that his identity is “underwhelming” even if unmasked and he is “replaceable”. In the first place, this anonymity is intended to demonstrate that “nobody has the key to the kingdom”.
According to the project’s website, SHIB is a “decentralized meme token”. The token’s community has 100% rights to operate the underlying protocol. The project is actively developing a decentralized exchange, ShibaSwap, and an NFT marketplace. ShibaSwap lets users stake their tokens within the platform in order to earn interest.
SHIB can be traded on major crypto exchange platforms. On each instance of listing by big cryptocurrency platforms, the coin’s price surged. For example, the listing on Binance brought the token’s market cap to $13.5 bln (following this, it fell to $2.72 billion). SHIB functions as an ERC-20 token but can also be transacted via the BSC (Binance Smart Chain).
When the token appeared on the market, its price surged by 27.000. Although SHIB has “crossed out” another zero in its price value, its current worth is still very insignificant and makes $0.00007306 (as of early November 2021).
SHIBA INU is famous for its vast supply. Even though the part of one quadrillion of the originally launched SHIB tokens was burnt, it still remains enormous and makes above 394,796 trillion tokens. With such a supply, the token always has space to grow.
The coin has demonstrated an impressive rally several times throughout the 2021 year. Its growth in late October of 2021 was boosted by a massive petition to one of the large crypto platforms to list the coin.
Now ShibaSwap users can connect their MetaMask wallets with the exchange and make an ETH-to-SHIB swap. More features are coming.
Will Shiba Inu (SHIB) reach 1 cent?
One of the most obvious questions when it comes to SHIB is whether it is able to reach 1 cent. To answer this question in a good faith, let’s analyze how its price has been developing since the release of the coin.
SHIB in 2020
When launched in August 2020, the SHIB price had started at the meaningless level of $0.000000000056. In just a few weeks of its performance, the token added 27.000%. It’s noteworthy that despite this upward movement, the price had not even reached one-tenth of a cent.
After the project was rolled out, its developers decided to make it fully decentralized and grant the community 100% of the rights to manage the protocol without any central body. A widespread estimation that SHIB is a collective joke does not align with quite a viable roadmap proclaimed by the project’s developers. The planned launch of ShibaSwap decentralized exchange is one of its central goals. The coin is backed by a very strong and extremely loyal community, actively participating in all initiatives regarding the coin on social media. For example, its members submit petitions asking to list the coin on various crypto exchange platforms. The project can boast 1.5 mln Twitter followers.
The 2020 year was just the beginning of SHIB’s prominent story. Vitalik Buterin, a co-founder of Ethereum, had received 50% of the SHIB tokens. $1 bln worth of tokens, in addition to the donation of 500 ETH, was sent by him to India’s fund coping with Covid-2019. As of late October, the amount donated rose to more than $25 bln. Also, Vitalik burnt 410 trillion tokens with a market worth of $1.14 bln. The burnt amount is now worth more than $30 bln (as of early November 2021).
SHIB in 2021
However, it was not until the 2021 mid-year when the coin made a notable upward shift in its value. The price reached $0.00003791 on May 10, 2021, after Binance had listed SHIB. Another contributing factor behind this growth was, of course, a general rally of cryptocurrencies. However, the new heights reached by SHIB in May were not occupied for long and the price had been in a decline for a few months.
In September 2021 Coinbase had listed SHIB, which let the coin spike by 35%. This way, in early October 2021, the coin reached the 20th position in the market cap rating among cryptocurrencies. Within just 24 hours, SHIB’s market cap managed to soar above $10 bln. It took SHIB only 5 days to add 300%.
Finally, at the end of October 2021, the price hit an ATH of $0.00005478 which makes a notable difference from its lows of the 2021 years on the level of $0.00000516. The price went up, inspired by expectations of some traders that the coin is going to be listed by Robinhood. This result had partly become possible because of Elon Musk’s tweet about his new Shiba Inu puppy. At the same time, SHIB left major coins (BTC and ETH) behind in its dramatic growth.
We can see that October’s growth of SHIB is 755% while overall growth for 2021 is more than 8000%! On some days of the year, the coin managed to become the seventh-highest coin in terms of market cap value.
This impressive performance promoted the wealth of those investors whose audacity made them put money into the project with seemingly glooming prospects. In their case, the HODL approach was totally justified.
Will Shiba Inu (SHIB) reach 1 penny?
No need to highlight that the current worth of the coin is much less than a penny. So, will the Shiba Inu coin reach a penny’s worth? This expectation may come true if the coin continues its optimistic scenario in the long run. Per Benzinga, implementation of this scenario would mean that its market cap would quadruple that of Bitcoin and amount to trillions of US dollars. This is unthinkable without a massive inflow of capital into the project. Therefore, this event is considered to be unlikely. The same goes for speculations on whether Shiba Inu is able to reach 25 cents, 50 cents, or $1. As with any meme-based coin, SHIB is subject to extreme volatility. Together with another meme-coin, DOGE, SHIB had been holding a high position in the top 10 by market cap for some time throughout the 2021 year. Nevertheless, this position is not sustainable given all circumstances around the coin.
At the end of the day, SHIBA INU is available on every large exchange platform and smaller platform. Using their service, you can buy and exchange SHIB. Also, it’s possible to swap Ethereum to SHIB on the ShibaSwap exchange, using MetaMask. According to the project’s founder, mysterious Ryoshi, SHIB may never hit $0.01 (or the milestone of one penny’s worth) but it will have a proportionately higher worth as compared to Dogecoin.
Shiba Inu (SHIB) Price Prediction 2022*
By 2022, the coin may have been listed by Robinhood. This long-awaited action is expected to promote the price to new heights. At the same time, this is likely to be a temporary spike. Ups and downs will follow. We recommend staying up-to-date about the news of the project to benefit from the price changes. Under the most optimistic scenario, the price will touch $0.0001 at the end of 2022.
Some experts agree that the average price in the next year will be around $0.000053, which is almost 90% of the value accounted for in late October 2021.
Shiba Inu (SHIB) Price Prediction 2023 — 2030
The information below will be interesting for all those looking for the SHIB INU price prediction for 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, and 2030. Based on the analysis, news of the project, and the conventional opinion of experts, we’ll outline the most probable boundaries, estimations, and milestones of the SHIB INU price.
With further development of the SHIBA SWAP exchange, its token is expected to enjoy better liquidity. This will contribute to the growth of the price and its sustainability.
Starting next year, 2022, the ShibArmy of loyal fans will be able to make use of NFTs and additional assets on the basis of new SHIBA SWAP offerings. NFTs can later be used in the gameplay of Shiboshi with multiple playable characters. The passive income reward system has been announced for users of this decentralized exchange. The token’s developers have plans to launch a proprietary blockchain platform called Shibarium. In the middle of October 2021, it was reported that the blockchain is going through its first tests. Although the roadmap implies the implementation of those plans in the foreseeable future, we can extrapolate the effect of those innovations onto the following years starting with 2023 onwards.
By 2025, SHIB is predicted to have better outreach and adoption among merchants. The 2025 year is the milestone, by which SHIB is expected to cross $0.000033 — $0.000038. This mark is the point where many price predictions merge. By reaching this level, the price would add more than 390% to its current value. This prediction relies on a favorable market. You can also come across the opinion that SHIB is able to take the level of $1 in the next few years. Mind that in order to hit this High ($1), the price needs to grow by 12,000,000%.
Under the continued bull run, the price may hit $0.0001143707 in 2027 and $0.00317 by the end of 2030. If the price reaches its maximum around the mark of $0.003, that would be coupled with a tremendous market cap.
The coin is famous for crushing analytical reviews and no tendency can be outlined with certainty. Just like many other experts, we expect the coin to get rid of a few zeros in its value during the next few years. The market has already convinced us that cryptocurrencies are perfectly capable of boosting their value by several hundred percent within a matter of a few days.
Please be reminded that SHIB can only be transacted through the ERC-20 network.
Subscribe for weekly updates from our blog. Promise you will not get emails any more often.
Subscribe for weekly updates from our blog. Promise you will not get emails any more often.