As we are approaching the end of 2021, it is safe to conclude that this has been one of the greatest years for cryptocurrency investors. Many cryptocurrencies have reached the moon, and that does not include only serious projects. As the market expanded, developers launched meme-influenced coins, such as Dogecoin (DOGE). After Dogecoin’s success, it paved the way for other meme-influenced tokens to rise, including Shiba Inu (SHIB). SHIB has been one of the greatest investments of the year, and it has even climbed in the top 10 market rankings.
In this article, we are going to go through the fundamentals of SHIB and how far its price can go in the long run. Let’s begin with a brief description of what Shiba Inu consists of on their project.
Shiba Inu (SHIB) Fundamental Analysis
First, let’s explain how Shiba Inu was created. After Dogecoin started gaining attention in 2020, Shiba Inu was created and launched in the summer of that year. Initially, Shiba Inu was perceived as a Dogecoin killer, which is a term for cryptocurrencies that aim to surpass DOGE. The name Shiba Inu comes from the Japanese dog breed of the same name, which was the dog on the Doge meme that inspired the creation of Dogecoin. While Dogecoin is the first of its kind and has had enormous success so far, SHIB has converged and has even temporarily surpassed DOGE, making it a historical milestone for Shiba Inu creators and community.
These cryptocurrencies offer a completely new approach to the crypto community and besides Dogecoin, there is also a competition between Safemoon and these two. Each of them has its own benefits and knowing the difference between Safemoon vs. Shiba Inu vs. Doge can really help you to choose the one right for you
The founder of Shiba Inu is anonymous and goes by the name of Ryoshi, with the name presumably being influenced by the mysterious founder of Bitcoin, Satoshi Nakamoto.
As explained in the woofpaper, Shiba Inu is 100% run by the SHIB community. It is a Decentralized Finance (DeFi) token that runs on the Ethereum (ETH) network. Being in Ethereum, SHIB is an ERC-20 token. Ethereum is slowly transitioning to Proof-of-Stake which fully complies with Shiba Inu’s consensus mechanism.
The project was largely supported by the founder of Ethereum, Vitalik Buterin. Buterin had 50% of the total supply, and then he used that amount to fund the India Covid Relief Fund. This helped the SHIB community grow even more as it showed the power that such a project can have to help the world.
Another amazing initiative by the ShibArmy community is the Shiba Inu Rescue Association. Together with Amazon Smile, SHIB helps in establishing Shiba Inu dog shelters. A portion of every payment through Amazon Smile can go to this NGO.
But perhaps the biggest distinctive feature of Shiba Inu among other Dogecoin-influenced cryptocurrencies is ShibaSwap.
ShibaSwap is a decentralized exchange within the Shiba Inu network, allowing users to use DeFi services and adding utility to the SHIB token. While SHIB is the native token of Shiba Inu, other tokens are also used in ShibaSwap. The main features of ShibaSwap are Digging, Burying, Swapping, Woofing, Bonefolio, and NFTs.
The DIG feature is used to provide liquidity on the network. The more you provide, the more BONES you earn. BONES can then be used for various purposes. There are 250 million BONES in circulation.
The BURY feature allows users to stake their tokens. The more tokens are buried or staked, the more returns you can gain.
The SWAP feature allows users to directly swap tokens in the Shiba Inu ecosystem. Being decentralized helps the network maintain fairness, security, and fewer fees.
The WOOF feature allows users to stake SSLP and have higher returns through farming.
BONEFOLIO allows users to easily access their funds and manage them in a much more efficient manner. This has made tracking your SHIB transactions better.
Last but not least, users can trade Non-Fungible Tokens (NFTs) known as Shiboshis. These NFTs are unique and increasing in value every day as the NFT marketplace grows and gains more popularity.
Shiba Inu is now focusing on the Shiba Inu Incubator. This incubator aims to help creative ShibArmy members to create SHIB-influenced artwork. This may help them display their talent in a decentralized and fair approach, which also helps them have more exposure in their NFT works. Features like this are what make Shiba Inu special and different from all the other meme coins.
Related: Floki Inu vs. Shiba Inu – Differences and Similarities
LEASH is another token on the Shiba Inu ecosystem. Originally created as a rebase token and a Dogecoin killer, SHIB is used as an incentive token in the ShibaSwap to liquidity providers.
LEASH has a total supply of 107,646, meaning that its supply is quite low and deflationary. At the time of writing, the price of LEASH is around $3,200 and has a market cap of around $345 million.
Let’s have a look at the tokenomics of Shiba Inu.
Initially, the total supply of Shiba Inu was 1 quadrillion SHIB. 50% of the total supply was locked in Uniswap for liquidity, and the other 50% was sent to Vitalik Buterin. As suggested Buterin has used some of that supply to help fight Covid-19 in India, and then burned 40% of the total supply.
As of now, the total supply of Shiba Inu is around 590 trillion SHIB, with 549 trillion in circulation.
Shiba Inu (SHIB) Price Analysis
Shiba Inu went public in August of 2020. At that time, SHIB was around $0.0000000005, but it then declined and kept its very low price throughout 2020.
In 2021, the price started increasing after BTC began a bull trend in the market, primarily due to the BTC halving of 2020. The price of SHIB started increasing at large rates, and it reached as high as $0.00003. After that, the price declined back to around $0.000006 and remained like that until October of this year.
After that, SHIB started its biggest bull surges so far, and it reached $0.00008 within a month. It even climbed in the top 10 market rankings and surpassed Dogecoin with market capitalization.
Also read: Dogecoin vs. SHIBA INU – Battle of the Memecoins
The price has dipped after that, and it is now at around $0.00005. Investors are currently buying the dip as the price has recently shown signs of increasing.
Rank: 12
With this current price and a circulating supply of around 590 trillion, the market capitalization of SHIB is around $31 billion, placing it in 11th place in crypto market rankings. The fully diluted market cap is around $33 billion.
Shiba Inu (SHIB) Market Price Prediction
Many of the world’s credible experts predict that SHIB can keep increasing in both the short and the long run, indicating that Shiba Inu is not done yet despite reaching the top 10 rankings.
Wallet Investor predicts that SHIB can increase in the remaining weeks of this year and even reach a new all-time high by the end of December. Furthermore, they predict that SHIB can reach $0.0001 in 2022. As for the longer run, they predict that SHIB can increase by more than 200% in the long run.
Digital Coin Price also predicts that SHIB can increase in the coming weeks. They also predict that SHIB can reach $0.0001 for the first time in 2021.
In a recent video of YouTube Crypto Investing, SHIB could eventually hit $0.10. This prediction is based on Robert Kiyosaki, entrepreneur and the author of the bestseller book Rich Dad Poor Dad, who has recently implied that owning 10 million SHIB can make someone a millionaire. This suggests that the price of SHIB can be at a maximum of $0.10. This assumption is made on the possibility of a market crash that Kiyosaki predicted earlier this year. He states that the market crash might be the best buying opportunity for investors. In another recent video of Crypto Investing, it was suggested that SHIB might be accepted by Mastercard soon, making the $0.10 prediction more feasible.
Recently, YouTube The Moving Average has also forecasted that SHIB can increase by 25,000%. It has already increased by 280% after that, and it is aiming for an even higher amount. Based on this forecast, SHIB can reach $0.005 at some point in the future.
Crypto Academy Shiba Inu Price Prediction
Based on the exemplary fundamentals of the Shiba Inu project, its community, the support of institutional investors, and its mass adoption by various businesses worldwide, we at Crypto Academy predict that the price of SHIB can go to the moon in the future.
Shiba Inu (SHIB) Price Prediction 2022
Shiba Inu might have another attempt upward before the end of the year, and it may hit $0.0001 soon. As for 2022, SHIB could reach as high as $0.0003. This would entail a market cap of around $160 billion. The US dollar might depreciate and SHIB might be integrated worldwide.
Shiba Inu (SHIB) Price Prediction 2023
In 2023, SHIB could be less bullish, and it may keep being above $0.0001. However, its price might not be higher than $0.0004. By then, cryptocurrencies might be even more important than they are today as blockchain technology replaces traditional financial services.
Shiba Inu (SHIB) Price Prediction 2024
In 2024, SHIB can be stable throughout the year. Nonetheless, the BTC halving of 2024 can initiate another bullish trend in the market by the end of the year. SHIB could reach close to $0.001.
Shiba Inu (SHIB) Price Prediction 2025
SHIB could maintain its bullish nature in the first quarter of 2025, as the price of SHIB is predicted to reach a soaring price of $0.005. This price is 100x the current price of SHIB, and it may mean that SHIB could enter in the top 5 rankings, other things equal.
Shiba Inu (SHIB) Price Prediction 2026
Lastly, as ShibArmy reaches its peak of members and more institutional money is destined to community-driven coins such as Shiba Inu, the price of SHIB might reach the historical milestone of $0.01. Since it is community-driven, we cannot omit the possibility that more tokens can be burned. Other meme-based coins might not survive that far, but SHIB is perhaps one of the most promising out of the lot.
How to Buy Shiba Inu (SHIB)?
Since Shiba Inu has already solidified its place in the market as a promising project, it is now listed in major cryptocurrency exchanges such as Binance, Huobi, OKEx, etc.
Step 1: Create an Exchange Account
The first thing you need to do is to open an account in one of the cryptocurrency exchanges that support Shiba Inu. Some of the exchanges require a Know-Your-Customer (KYC) verification. You can also use MetaMask and connect your wallet with ShibaSwap.
Step 2: Fund Your Account
After verifying your account, you can fund it either by transferring assets from an existing cryptocurrency wallet, or you can directly buy tokens such as USDT through a debit or credit card.
Step 3: Buy SHIB
Once you fund your account, you can begin trading cryptocurrencies. Select SHIB and enter the amount of SHIB you want to buy with the USDT acquired. Then, all you have to do is click “BUY.” If you use MetaMask and ShibaSwap, you can directly buy SHIB there, but keep in mind that there might be gas fees. Once buying SHIB, you can transfer them to a safe cryptocurrency wallet.
Frequently Asked Questions (FAQ)
Can Shiba Inu hit 1 cent?
Technically, Shiba Inu (SHIB) can hit 1 cent. However, it all depends on how other cryptocurrencies perform and whether Shiba Inu maintains its innovative approach on the market by offering new services.
Will the price of SHIB increase?
Yes, the price of SHIB is likely to increase, especially since it is community-driven and has more utility than other Dogecoin-influenced tokens.
Where can I buy Shiba Inu?
You can buy Shiba Inu directly in ShibaSwap by connecting your MetaMask wallet, or you can use a cryptocurrency exchange such as Binance, OKEx, etc.
Also Read: Dogelon Mars (ELON) Price Prediction 2022 and Beyond – Can ELON Eventually Hit $1?
Takeaways
- Shiba Inu is a community-driven cryptocurrency that emerged due to the success of Dogecoin and other meme-based cryptocurrencies.
- SHIB works on the Ethereum network as an ERC-20 token.
- ShibaSwap is a decentralized exchange of the Shiba Inu network that provides DeFi services to its users.
- SHIB has a total supply of 590 trillion. 40% of the initial total supply was burned by Vitalik Buterin.
- Shiba Inu is now offering rare SHIB NFTs.
- SHIB has hit an all-time high of $0.00008 recently.
- The price of SHIB is predicted to increase in the future.
- You can buy SHIB in ShibaSwap or centralized exchanges such as Binance.