SHIB, or Shiba Inu Coin, is an ERC-20 token that powers the Shiba ecosystem. Users can earn money and prizes by staking, swapping, or depositing SHIB, BONE, and LEASH tokens into liquidity pools on the ShibaSwap decentralized exchange.
Shiba Inu is often regarded as a meme money, similar to other dog-themed cryptocurrencies like dogecoin, and has a similarly large viral following on social media especially Twitter, where it has millions of followers.
How does Shiba Inu work?
Unlike most meme coins that offer little or no social use, Shiba Inu, on the other hand, has a community-driven rescue mission for Shiba Inu dogs as well as an ecosystem of products and services, including ShibaSwap, a decentralized exchange. Shiba Inu users can trade SHIB for and against other cryptocurrencies on the peer-to-peer trading platform, they can also earn interest by providing liquidity and staking the ecosystem’s three tokens, depositing them into a smart contract.
How is the Shiba Inu used?
Shiba Inu was intended to be a digital currency at first. In order to grow the Shiba Inu ecosystem, it has since developed a decentralized crypto exchange, nowadays Non-fungible tokens can also be traded on ShibaSwap (NFTs). Its NFTs which are now called Shiboshis are pixelated cartoons of Shiba Inu dogs with distinct personalities.
Shiba Inu is actually separated into a number of tokens that assist the cryptocurrency ecosystem run smoothly:
SHIB – The is the Shiba Inu money that can be traded and used as a medium of exchange.
LEASH — This is a much more limited version of the Shiba Inu-related coins, with only 107,646 pieces available. It pays staking payments to people who validate cryptocurrency transactions.
BONE — This token, which has a supply of 250 million units, is used to allow Shiba Inu users to vote on suggestions.
Coin Overview and History
An unidentified person named Ryoshi developed the Shiba Inu coin in August of 2020. We don’t know who created it, much like we don’t know who created Bitcoin and who Satoshi Nakamoto is. Ryoshi may or may not be a single person. Like many other coins, it was built on the Ethereum Blockchain Network, it is a meme coin that was created as a competitor to Dogecoin, or “Doge-Killer. It hopes to compete with Dogecoin, another Bitcoin altcoin. There is currently only one quadrillion (a thousand trillion) tokens in existence, with about 549 trillion SHIBA INU tokens in circulation.
Named after the Shiba Inu dog breed from Japan, its charming dog avatar and persistent publicity is already making the coin extremely popular among major crypto exchanges and investors.
Since the year 2021, the price of Shiba Inu currency has soared and peaked. Shiba Inu currently has a market cap of about $26 billion, whereas Dogecoin has a market cap of nearly $30 billion.
Shiba Inu was valued at $0.000000000119 at the start of 2021. It peaked at $0.00008845 during that year. This was a massive rise in value, however it plummeted by more than 75% after that.
Why has the Shiba Inu coin been so successful?
The launch of ShibaSwap, a decentralized exchange, could have been a major factor in its success. The exchange is a positive feature for investors since it allows them to make more money if they hold on to their investments for a prolonged period of time.
Elon Musk, the founder of Tesla and SpaceX, is known for causing price swings in meme coins like Doge and Shiba Inu.
Shiba Inu Overview
Shiba Inu current price $0.000012
Price Change(24h) $0.0000001566 (up 1.34%)
Last 24h Low / 24h High. $0.00001162 /$0.00001209
Trading Volume (24h) $372,467,274.68 (down 21.15%)
Volume / Market Cap 0.05743
Market Dominance 0.50%
Market Rank #16
Shiba Inu Market Cap. $6,485,102,404.76 (up 1.37%)
Shiba Inu Price Forecast
Though Shib coin, also known as Shiba Inu coin, is solely recognized as a meme coin, its growing popularity and interest, it is unrelenting in its promise for a different yet bright future.
The Shiba Inu currency is expected to soar again, according to experts. We will now take a look at some expert analysis of the SHIB future potentials.
Although there hasn’t been much movement in the price of this token, active buyers could potentially help it climb. In a more active buyer’s market, the value may jump to $0.00001050.
Although it may not appear to have much worth right now, due to its popularity, it has the potential to influence huge investors in the crypto market in the future.
Speculation and capitalization are the keys to Shiba Inu’s future prosperity, and Shiba has the potential to become the next Dogecoin. Shiba Inu is now among the top 20 cryptocurrencies. This is a solid figure, especially considering Shiba Inu is a relatively new cryptocurrency asset. Whether you choose to invest in the stock market or in cryptocurrency, there is always a measure of risk involved. There is no such thing as certainty. Shiba Inu coin, on the other hand, has the potential to become a major participant in the cryptocurrency industry!
Shiba Inu token prices continued to fall in mid-July 2021, although more slowly than before. It created a declining triangle after failing to break out of the $0.000009 – $0.00001 resistance area. It’s had good support around roughly $0.000005, this is the lowest it’s been since early May – so there’s reason to believe it’ll rebound off this level even if it gets there. However, as previously said, the downward trend has moderated, with signs of consolidation emerging. In the end, investors should practice patience and caution while watching to see if the coin undergoes another potentially lucrative bull market.
Shiba Inu Coin Price Prediction
Below is a full description of the SHIB price estimates for the 2022, 2025 and 2030:
Shiba Inu Coin Price Prediction for 2022
According to cryptocurrency analysts, By the end of 2022, the price of Shiba Inu is expected to rise to $0.0000175. The maximum predicted price is $0.000018 while the minimum expected price is $0.0000145.
Shiba Inu Coin Price Prediction for 2023
The Shiba Inu ecosystem project and market sentiment might set the Shiba Inu token on a bullish run in 2023, with the price of SHIB predicted to cross the $0.000019 level. Shiba Inu is anticipated to attain a minimum charge of $0.0000193 before the end of the year. Furthermore, the SHIB price has the potential to reach a maximum of $0.000021.
Shiba Inu Coin Price Prediction for 2025
Shiba Inu prices are anticipated to grow to $0.00005 by 2025. The highest projected price is $0.0000925, with the lowest expected price being $0.000025
Shiba Inu Coin Price Prediction for 2030
According to price prediction, Shiba Inu prices are expected to drop to $0.00029857 in 2030. Throughout 2030, the Shiba Inu price might reach a maximum of $0.00035, with an average trade price of $0.000309.
Frequently Asked Questions (FAQs)
What is the current price of the Shiba Inu (SHIB)?
As at the time of this writing, the price of the shiba Inu is currently valued at $0.00001164.
Where can I buy Shiba Inu (SHIB) Coins?
Various cryptocurrency exchanges, such as eToro, Crypto.com, Binance, Coinbase, Kucoin, Gemini and ShibaSwap sell Shiba Inu coins.
Find and select an exchange to buy, sell, and trade Shib coin, do this by first comparing the deposit methods, supported fiat currencies, and fees and choosing your preferred platform.
Why is the price of the Shiba Inu Coin rising?
According to market experts, the current rise in crypto powerhouses and rising retail awareness has lifted the morale of memecoins, like Shiba Inu.
There was a surge in its popularity after Elon Musk, the founder of Tesla, once expressed his desire to purchase a Shiba puppy on Twitter, which sparked a 300 percent increase in cryptocurrency prices, Shiba Inu tokens inclusive.
As with most coins, high-profile persons with a major effect on sentiment toward cryptos could make tweets that can drive up demand.
What will Shiba Inu be worth by the end of 2022?
According to technical analysis, SHIB minimum price in 2022 will be $0.0000175. The price could go up to $0.0000180. A $0.0000177 average trade price is expected.
What will Shiba Inu be worth in 2025?
Shiba Inu coin might be worth $0.000190 in 2025, more than doubling its current value.
Some experts believe it will go the other way, and that such a volatile currency may possibly lose nearly all of its value in a matter of a few days, if not hours. To minimize the risk associated with any token including cryptocurrency, traders and investors should do their own research before investing.
With a solid background, knowledge and certifications in blockchain, fintech and technical content writing. Gabriel has researched, written and developed several SEO-driven articles, press releases, financial technical documents, litepapers and whitepapers in the blockchain niche. He also specializes in taking rough business ideas and making sure they are both financially and technically feasible (with a focus on blockchain, tokenomics advisory, DeFi, AI and the finance industry).