Cryptocurrency is a buzzing topic nowadays. Among the many varieties, we’ll talk about the Shiba Inu coin. But what exactly is a Shiba Inu coin, and what does the future hold for its price? In this post, we’ll look at the most recent developments to help you decide whether investing in the Shiba Inu coin is a good fit for you.
The SHIB cryptocurrency has already experienced a downtrend in the past months. However, it received a boost in late November. So, are you curious how it’ll turn by the end of 2021 and the coming year of 2022? Keep reading to know more details of the Shiba Inu price prediction.
What is Shiba Inu Coin?
Shiba Inu Coin was introduced in August 2020. It describes itself as “an experiment in decentralized spontaneous community building” on its official website. It is traded on ShibaSwap, a decentralized exchange.
The SHB coin is represented by the Shiba Inu dog, which also represents Dogecoin (DOGE). It has also earned the title “Dogecoin Killer.”
A decentralized finance system called Uniswap, which permits automated transactions between cryptocurrency tokens on the Ethereum blockchain, has been assigned half of the entire supply, according to the Shiba site. The other half was given to Ethereum’s co-founder, Vitalik Buterin.
Why Has SHIB Become Popular?
Shiba Inu coins appeal to certain investors because they provide the chance for speedy returns. You can, however, lose every money you invest in a matter of seconds.
“Memes have value and have been an investible thesis in 2021,” Jonathan Cheesman, FTX Head of Institutional Sales, told Bloomberg about SHB’s surge. He added that tokens with lower dollar prices are more enticing to retailers.
Moreover, rumors that it would soon be included in Robinhood, a famous trading site, boosted the market. While the company has yet to address a petition seeking its inclusion, its CEO Vladimir Tenev stated that the platform would seriously consider integrating new coins in a secure method for individuals and compliance with legal standards.
Tenev also said that they feel positive about the current lists of coins on their platform. And regarding the new coins, they may add, they expect to feel the same, if not better.
Besides, moving the SHIB market is pretty simple. Its price jumped last month just because of a Twitter post from Elon Musk showing a photo of his pet dog. Musk has shared that he does not own Shiba Inu Coin, but he does have Bitcoin, Dogecoin, and Ethereum.
Brief History of SHIB Price
The Shiba Inu coin’s price record got off to a great start, with a 27,000% increase in just a few weeks. The SHIB had an excellent performance in terms of percentage, but it’s worth noting that the cryptocurrency price wasn’t able to hit one-tenth of a cent.
Shiba Inu Coin Price Prediction
Let’s see how’s the price performance of SHIB. Based on the recent data, from $0.00008841, its all-time high in October, the SHIB price has dropped to $0.00003649 in December. Will it be able to keep that price?
As per CoinCodex, technical research revealed that the short-term outlook on SHIB was negative at writing, with 9 indicators emitting optimistic signals vs. 15 unfavorable signs.
As mentioned before, the SHIB had a difficult time during October and November, with a declining trend that has continued into December.
However, in late November, it gained a lift when it was put on the Kraken market, and the recruitment of William Volk, a game developer and publisher, has been confirmed. This has signaled a change of course. Additionally, Bitstamp announced that SHIB would be listed on December 9th.
The Relative Strength Index (RSI) was 42.07, in the neutral range. The RSI varies between 0 and 100, with overbought levels exceeding 70 and oversold levels below 30. The averages of daily exponential and straightforward moving were both indicating that it was time to sell.
Wallet Investor’s SHIB crypto price forecast assessed the token as a great long-term investment. Its Shiba Inu price prediction for the beginning of 2022 is $0.000039. However, it believes that by the end of 2022, the price will grow to $0.0001. And by 2025, it’ll exceed these peaks since SHIB will be trading at $0.000284 as per the algorithm prediction.
In the long run, Coin Price Forecast projected that the Shiba Inu coin price would continue unstable. At the end of 2025, it’ll increase from $0.00044 to $0.000445 in 2026. By the end of 2028 to $0.00064 before moving to $0.000735 in 2030.
According to DigitalCoin’s SHIB/USD prediction, the coin price might reach $0.000054 in 2021, and then in 2022, it’ll climb to an average of $0.0000691, and in 2023, at $0.000075. By 2025, the algorithm predicted that the price would average $0.00011.
It is vital to remember that cryptocurrency markets are still incredibly unstable, making it impossible to forecast a coin’s price in a matter of hours. Plus, it is even more challenging to make precise long-term predictions. As a result, experts and internet forecasting services may make incorrect projections.
Prior to investing, you should conduct your own research and check the latest news. Don’t ever put more money into something than you can’t afford to lose. Instead, evaluate the market trends, technical analysis, and opinions from experts.
Should You Invest In SHIB?
SHIB can be an excellent investment based on the analysis of Shiba Inu coin price predictions. The development is greater than 100% over the next few years. But, because the cryptocurrency’s value in the real world has yet to be verified, it is best to acquire SHIB in small numbers.
Also, be aware that the Shiba Inu ecosystem includes Bone and Leash, which can be purchased on the official website. Learn everything you can about these coins, as they are significantly less well-known than Shiba Inu. Note that the Shiba Inu coin data is provided solely for informational reasons.
Again, constantly do your research before you decide on investing. Understanding an estimated SHIB price is useful, but you must conduct your own pricing research, in addition to looking at the Shiba Inu coin prediction, similar to any cryptocurrency.