2021 is almost ending, and the stock market will surely remember it as a meme crypto stock crazy year. Various cryptocurrencies have caught the attention of many people in trading. One of these is the Shiba Inu coin or SHIB. But what about 2022? Will this trend that influences the way people think about investment continue the next year?
Shiba Inu looks to be gaining traction, pointing to an even brighter 2022 for the cryptocurrency. Though you cannot disregard that instability remains a key problem. Let dig into more details as you read the whole article.
Shiba Inu Coin’s Popularity
As per CoinMarketCap, the Shiba Inu coin has become one of the largest cryptocurrencies by market capitalization. The dog-themed currency is also gaining popularity on trading sites and as a means of payment.
Traders may now purchase SHIB on some of the most prominent cryptocurrency exchanges. Coinbase Global introduced the SHIB on its exchange in September. In November, Kraken, another major U.S. crypto exchange, approved SHIB for trading on its platform. Traders may buy Shiba Inu coins using fiat currencies like USD on these marketplaces.
Besides, rumor says Shiba Inu will be part of Robinhood, a crypto exchange platform. Customers have been asking for it, and the company is considering it. Although there are certain regulatory issues, the price of SHIB is expected to surge if Robinhood’s traders have access to it, particularly considering SHIB’s narrow float.
Regarding payments, AMC Entertainment, a movie theater company, has also announced that it will begin accepting SHIB as payment in the coming months. Moreover, Ask the Doctor, a telehealth provider, said it has added $1.5 million SHIB to its balance sheet. It intends to welcome the coin as payment.
Ryoshi, the developer of Shiba Inu, said that the crypto is building its own metaverse, which it names the Oshiverse. He stated, “We are working on so many aspects of Shiba Inu including Shibarium, Shi, Shibanet, The Decentralized Shiboshi Game, Incubator and much more that won’t become evident until the near future.”
The overall value of all cryptocurrencies in circulation today refers to the coin’s market capitalization. All the others being equal. As the quantity of coins increases, so will the market capitalization. So, by multiplying the number of coins by their trading price, you can get the market cap of each cryptocurrency.
Value of SHIB
Do you know how much is the worth of SHIB now? There are roughly 549 trillion Shiba Inu coins in circulation, with a recent price of $0.000042. The coin’s overall worth estimates to be around $24 billion. There are a number of reasons why the value of a cryptocurrency such as Shiba Inu rises.
The fact that prices are determined by supply and demand is perhaps the most important. There is plenty of supply in this situation, with 549 trillion Shiba Inu coins currently in circulation. As a result, increasing demand was crucial in the SHIB’s rapid rise over the previous year.
But why has there been such a high level of demand? Some could point out that Shiba Inu is an Ethereum-based counterpart to Dogecoin, already quite famous. There were, however, plenty of other Ethereum-based coins to which Dogecoin supporters might have switched.
There is another basic reason for its success: SHIB price is extremely cheap. In early 2021, an investor could have acquired 100 billion coins for only $1. Given its remarkable climb this year, the SHIB coin still has the lowest price among the other cryptocurrencies by market capitalization.
SHIB: What Should You Expect in 2022?
Could Shiba Inu’s still-extremely-low coin price help it become a major cryptocurrency once more? The total level of cryptocurrency demand will be critical. If most cryptocurrencies fall, you can expect Shiba Inu to rise.
In addition, several possible factors will have a significantly greater impact on Shiba Inu’s performance in the coming year of 2022. For instance, there are signs of increased public support for the coin, such as AMC Entertainment’s recognition or Robinhood’s inclusion of the cryptocurrency on its trading platform.
Regularly, so many cryptocurrencies are breaking price records. So, who profits from crypto investments? If you want to earn money from crypto, you need to profit no matter how a specific coin is performing on any day.
Shiba Inu has been a huge success in 2021 so far, bringing in life-changing riches to a select few. However, because of the SHIB’s high volatility, profits have vanished nearly as fast as they arrived. Moreover, considering that SHIB value relies on variables other than function, such as social media buzz, the price variations are anticipated.
As Shiba Inu’s utility cases grow, we may see some of this volatility lessen and the stock’s price rise steadily. We may see a new Shiba Inu coin in the future years if it continues to acquire recognition as a form of payment in the real world and is made available on additional exchange platforms.
SHIB has also benefited from a crypto bull market throughout most of 2021. And, the coin will most probably keep moving strongly in tandem with the larger cryptocurrency market. For Shiba Inu to reach $100 billion by the end of 2022, the cryptocurrency market as a whole will have to maintain good bullish traction.
But, if the cryptocurrency rises 4.5 times from its present price level by the end of 2022, it will need to see some extremely positive business integration and user adoption trends.
You may anticipate an exciting and perhaps more stable year of 2022 for SHIB. However, always keep in mind that you need to know what you’re getting into if you’re trading cryptocurrencies. Changes in the trading movement of cryptocurrency happen nearly daily. Therefore it’s crucial to recognize that a wave of interest may swiftly push a cryptocurrency upward.
The opportunity for even greater profits exists, but Shiba Inu is still a very high-risk investment. You shouldn’t purchase the cryptocurrency unless you’re also ready to accept the possibility of huge losses.