It's simply a token that runs on the Ethereum network. The first thing to understand about digital currencies is that there aren't many tangible catalysts for investors to wrap their hands around. While the coin first dipped by over 94% in its first year of trading, the price of Shiba Inu exploded in 2021, recording a massive 43,220,000% growth and hitting an all-time high of $0.00008819 in October 2021. That said, people keep actively asking whether the Shiba Inu coin price could keep eating zeros and reaching the cent figure. Dogecoin is a cryptocurrency that exists independently of Bitcoin. As noted, Shiba Inu is an ERC-20 token on Ethereum's blockchain. Today, however, different crypto experts and investors are confident that Shiba Inu prices will rise again and continue gaining for the next few years. Dogecoin was developed in 2013 as a comical spin on the then-emerging trend of cryptocurrencies - whereas Shiba Inu was developed in 2021 as a "meme coin" that was a rival to Dogecoin. If the cryptocurrency were to reach $0.01, its market value would top $5.4 trillion. In other words, it removes coins from the circulating supply and, in theory, makes each remaining token that much more valuable. Lets See The Next 5 Alternatives. Crypto experts are optimistic that the price of Shiba will further increase in 2022. Shiba Inu has pulled off some of the most impressive price performances in the history of crypto markets. For example, it would not be so outlandish to say that a cryptocurrency with a market cap of $10 million could potentially 100x in price over a long enough time period. From the fundamental side of things, the Shiba Inu team is working on several products that are geared towards making SHIB a more attractive token to hold. At a $0.10 valuation, the total market cap of SHIB will be $54.9 Trillion, which is 2.5 times of US GDP, 54 times more than Bitcoin, 100 times more than Ethereum, 27 times more than Apple (AAPL), and 55 times more than Tesla (TSLA) market cap. When he is not writing, he is looking to meet new people. First, the recent crypto shock took the market by surprise and threw it into disarray. SHIB: The Metaverse and a blockchain edition of the Shiba Eternity game are two such examples of such initiatives. Even though many crypto investors dismiss meme coins outright, the fact remains that SHIB is the 13th largest crypto asset by market capitalization, surpassing the likes of Litecoin, Polkadot and TRON. Shibarium Update ? In recent weeks, theShiba Inu coinhas seen significant price fluctuations. Shiba Inu Price Prediction Shib Price is Up, Will it Continue to Climb? We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. This could be similar to the run of Dogecoin itself. While Dogecoin has a. Here's why. SHIB. So today, its uses are limited. However, the bigger issue for Shiba Inu is that it's unable to differentiate itself from more than 22,000 other cryptocurrency projects. Shytoshi Kusama, the developer, tweeted on December 24 that Shibarium is nearly impossible to show up before the end of the year due to the holiday periods. Shiba Inu, on the other hand, has a supply of 549 trillion tokens. Even reaching lower price milestones, such as $0.01 or even $0.001, seems very difficult. Following the massive drop, the price has gradually returned to normal. Shiba token burn and liquidity locking program pushing price to the moon and that favouring project in term of bringing new investor and diamond hand holder. Without getting overly complicated, layer-2 blockchain is a series of secondary solutions overlaid atop existing blockchain to enhance functionality. So expecting Shiba Inu's price to reach 1 cent without any context is unrealistic. The Shiba Inu project is quite well established, as it has a large base of token holders and listings on major cryptocurrency exchanges. Please invest wisely. At a price of $0.01, SHIB would have a larger market capitalization than the three largest companies in the world combined. A currency does not have inherent value long term. SHIB is determined to transform into a comprehensive ecosystem with a metaverse and blockchain games, with the incipient liftoff of Shibarium, a Layer 2 solution that will facilitate faster transactions and lower gas expenses. There is little indication to believe that the burn rate will be sufficient to propel the price of Shiba Inu to 50 cents. This was a reach even in the bull market, and is extremely unlikely now. The will shiba inu coin reach 10 cents is a question that many are asking. The Shiba Inu coin, launched less than a year ago and named after the dog breed, is a cryptocurrency that trades as SHIB and champions itself as the "Dogecoin killer.". This coin is also called the Dogecoin Killer. They have alluded as much on the official Shiba Inu website stating that Nicknamed the DOGECOIN KILLER, this ERC-20 ONLY token can remain well under a penny and still outpace Dogecoin. SHIB, which exists as an ERC-20 token on the Ethereum blockchain, has more than 1.2 million holders. Investors were looking for the next big crypto star. Click here to watch the talks of the amazing Berlinverse speakers. There you have it, Shiba Inus goal is not to reach $10 or even $1. Looking at the 4-hour price chart, SHIB price is preparing to trade above the EMA-20 trend line as it witnesses a spike in trading volume. Currently trading at $0.000020, the Dogecoin Killer will need to grow its value by 18 Million percent if it is to reach this target price. I don't think so. The current price of Shiba Inu is $0.000012, and the 24-hour trading volume is $171 billion. While Dogecoin has a high chance of reaching $1 in the future, we can't say the same for Shiba Inu, at least not in its current state. Could Shiba Inu Help You Become a Millionaire? The Shiba Inu coin, similar to Dogecoin, is a meme-based cryptocurrency that was created in August 2020 by an anonymous person (or a group of people) who go by Ryoshi. What would it take for Shiba Inu to rally close to 8,900% and hit $0.001 in 2023? We look at relevant market data and examine potential the catalysts behind SHIB's long-term growth. Currently trading at $0.000020, the, For starters, it has no real value. Can Shiba Inu Reach $1? SHIB was largely unknown for about half a year after it was created. How high can , The trend of the crypto market is currently up. Dogetti: The Dogefather of Meme Coins Family and community are the foundation of this coin's success. Shibarium is being established as a layer-2 blockchain to improve the scalability of Shiba Inus host chain Ethereum. Input your search keywords and press Enter. And even Shiba Inu token developers know it. There is a 0.977 correlation between the price of Dogecoin and Shiba Inu in the last seven days, and as meme coins, both tokens have had similar price performances. SHIB, on the other hand, is a currency rather than a commodity. The more it is used for transactions, the higher the burn rate. Making the world smarter, happier, and richer. This sparked a cryptocurrency rally. But the cryptocurrency's potential is limited -- and as we saw last year, declines may happen quickly at any moment. And there is never an accurate answer to the price action and direction that Shiba Inu, or any other cryptocurrency for that matter, will take in the future. *Average returns of all recommendations since inception. Cryptoasset investing is highly volatile and unregulated in some EU countries. Some believe that the circulating supply of SHIB will decrease drastically after the launch of the Shibarium Layer 2 network, which will burn SHIB for every transaction. The decline in 2022 is not why the Shiba Inu coin is unlikely to reach 1 dollar. The price of SHIB soared from 0.00001 to 0.000014 US dollars. Read Also: Is Shiba Inu (SHIB) Worth Buying? Crypto Millionaire: Buy THESE Cryptos before they BOOM in 2023? Today, most do not expect Shiba Inu prices to even come close to $1 by 2030. Much of the SHIBs popularity comes from its meme coin status, as its often promoted by its holders on various social media platforms through memes and viral campaigns. We know top market exchange also interested to bringing shiba on their platform after seeing huge spike in community. Its current circulating supply is about 550 trillion tokens. When there are viral social media campaigns urging people to buy Shiba Inu in order to get SHIB to a penny or get SHIB to $1, some people dont stop to think about what that would actually entail because $0.01 and $1 seem like small numbers. Shiba Inu was launched in August 2020 without much fanfare. Before we get started, however, lets take a brief look at the story of the Shiba Inu project and its journey towards the top of the crypto markets. Shib price prediction 2030 in Indian Rupees: Shiba Inu is . Don't Miss: Could Shiba Be A Millionaire-Maker Coin? Therefore, the SHIB coin is not something new. The record price represents a near doubling of the value of the Shiba. SHIB, on the other hand, is a cryptocurrency based on ERC20 tokens. On the Ethereum network, SHIB is a monetary token. Yes, its Trillion. While $0.001 might be a target SHIB holders like to dream about, it's far likelier Shiba Inu gets sent to the doghouse in 2023. The first decentralized cryptocurrency was. And according to the CoinMarketCap list of the largest cryptocurrencies, Shiba Inu - the Dogecoin Killer - is ranked in the top 15 cryptocurrencies with a market capitalisation of $11 Billion. Of course, theres no guarantee that a coin will ever reach its previous all-time high again. Despite its impressive performance in the past couple of years, Shiba Inu is very unlikely to reach $1 or 50 cents because its circulating token supply is simply too large. To Shiba Inu (SHIB) reach $0.10, the total market cap of SHIB has to be 549 Trillion x $0.10 = $54.9 Trillion. The reason is Shiba Inu belongs to a controversial niche with no real use-case. SHIB has begun offering NFTs named "Shiboshis" that cost 10,000 Shiba Inu coins which will help burn additional circulating supply. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Why is this such a big deal? When it comes to cryptocurrencies, the unpredictability of the prices is always an important factor. Instead, its an Ethereum smart-contract based cryptocurrency, similar to Binance Coin (BNB), Tether (USDT), Chainlink (LINK), USD Coin (USDC), TRON (TRX), etc. Wallet Investor expects Shiba Inu token prices to rise to $0.00007 by end of 2022 and rise to a further $0.0002 by 2025. Other projects being worked on by the Shiba Inu team include the ShibaSwap decentralized exchange, the Shiboshis NFT collection and SHIB: The Metaverse. According to CoinMarketCap, there are currently 549 Trillion SHIB coins in circulation. The market capitalization of different prominent stocks and metals throughout the globe is shown in the table below. That would be a near 620% increase from where the Shib coin is . Followers are speculating the launch of Shibarium -- a Layer 2 scaling solution -- could happen as soon as next week. Even reaching lower price milestones, such as $0.01 or even $0.001, seems very difficult. The big question on the minds of SHIB holders and cryptocurrency investors is whether Shiba Inu has an encore performance in the works. It makes up 11.94% of their total holdings. Shibaswap, the ecosystems native DEX, can be utilized by stockholders to exchange tokens, take part in governance, create passive income, and buy NFTs. Cost basis and return based on previous market day close. Response from investor and real user are unreal because it giving tough competition to dogecoin community in term of voting. (. But the question remains - can SHIB reach the magical 1 cent mark? Tax on profits may apply. That is the reason why, unlike Dogecoin that has a clear mission of reaching $1, these developers only aim is to beat Dogecoins market cap. Is it possible for the coin to reach one cent? Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. But will it be hard for Shiba Inu to reach $10? At its peak, the total cryptocurrency market cap was just slightly above $3 trillion. Though Ethereum founder Vitalik Buterin was able to burn over 410 trillion SHIB coins in 2021 -- Shiba Inu's founder gifted roughly half of SHIB's 1 quadrillion token supply to Buterin -- future burn events won't come anywhere close to this level. The. It would be extremely difficult, to say the least. SHIB at. But over the past decade, cryptocurrencies have turned this traditional moneymaking strategy on its head. Like many altcoins, Shiba . Ensuring that transaction fees are negligible is critical to getting this NFT marketplace and blockchain-based gaming off the ground. Dogecoins massive price increase in the early part of 2021 led crypto speculators to look for the next Dogecoin, and the market settled on Shiba Inu as the best candidate. Still, this cryptocurrency may be days away from its biggest moment ever. Lets see how this market cap stacks up against other financial products and see whether it makes sense. Robinhood market reports more than 300k petition signed for listing and we could see more independent exchange will show interest in Shiba listing. This is a Layer 2 solution that could solve some of Shiba Inu's problems. The United States entire Gross Domestic Product (GDP) is about $20 trillion, whereas Chinas GDP is roughly $14 trillion, according to the Federal Government. Solanas Network Outage: A Sign of Trouble for Investors? Will Shiba Inu Reach $1 or 50 cents? However, SHIB is an ERC20 token-based cryptocurrency. Bitcoin, Dogecoin is a standalone cryptocurrency. Thousands of mining machines (rigs) are used by independent miners across the globe to keep the network functioning. The answer to this question is no, it will not reach 10 cents. Initially, there were 1000 Trillion SHIB (1 Quadrillion), but around 451 Trillion has been locked away or burned forever. To reach $0.10 shib would need to be 10trillion, aka the most valuable asset in history. Some do not even believe that Shiba Inu has what it takes to reach $1 by 2026. Buterin also sent 40% of Shiba Inu's total supply to a "dead wallet", which is also referred to as burning, according to Shiba Inu's website. Keep track of your holdings and explore over 10,000 cryptocurrencies. Shiba inu coin revealed plan to hit $0.10 Shib token news. Shiba Inu Coin ON THE MOVE! Price prediction websites, crypto experts, and even Shiba Inu investors are all confident that Shiba Inu will recover and continue rising moving forward. Shiba Inu Traded Volume SOARS! However, the Shiba Inu coin was also negatively impacted by the FTX crash in the days that followed. Shiba inu market volume continue to grow following successful audit and other trading safety protocol. CLICK THIS LINK TO TRADE SHIB AT BITFINEX! At the moment, no one believes that Shiba Inu will reach $10 in the near future, and certainly, no one believes it will reach $100 in our lifetime. Of course, Shiba Inu going to 1 dollar is an even more unrealistic scenario. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. However, due to the general decline of the crypto market, that hasnt come to pass. At that kind of size, even a 2x price increase would have required a massive amount of capital to flow into SHIB. Here's what the prospects look like for SHIB as it struggles to reach the one cent mark. Like before, the main restrictive factor is SHIBs circulating supply, which would, at current amounts, produce a market cap of $275 trillion if the meme coin were to reach the $0.50 mark. Instead, you should be considering the coin or tokens market capitalization, as thats what will actually allow you to get an idea of how it compares to other crypto assets in terms of size. Technical analysis by the DigitalCoinPrice website paints a rather grim future for the altcoin. CoinCodex is a cryptocurrency data website that tracks 23389 cryptocurrencies trading on 420 exchanges and provides live crypto prices. Soloway's price projections have historically been accurate. We also can see that we will get Shiba Inu at a cheaper rate than what is now. However, credit must be given where credit is due. The price of Shiba Inu increased significantly at the end of October. Sean Williams has no position in any of the stocks mentioned. The only significant difference was the creator built Shiba Inu on the Ethereum network. Its why theyre a multibillion-dollar corporation. Shiba Inu is also utilized for transactions, and numerous well-known businesses, like AMC Theaters, currently accept it. Unlike Apple, Tesla, or Microsoft, it is neither a product nor a platform. At a $0.10 valuation, the total market cap of SHIB will be $54.9 Trillion, which is 2.5 times of US GDP, 54 times more than Bitcoin, 100 times more than Ethereum, 27 times more than Apple (AAPL), and 55 times more than Tesla (TSLA) market cap. Shiba Inu is a decentralized cryptocurrency that was launched in August 2021. Answer (1 of 38): I'm erring toward more optimistic predictions and saying $1 capped. Shiba Inu has a circulating supply of 549.063 Trillion SHIB tokens. The Next Shib? Shiba Inu is nothing but Japanese Dog breed started as meme coin and now become biggest investment in crypto world. In this context, the factors of project niche, marketcap, revolution, and innovations are significant. After reaching its all-time high in October of 2021, the token went through an intense bearish phase that has brought the SHIB price 87% below its all time highs. When SHIB was on the way up, many token holders were wondering if Shiba Inu will reach 1 cent. Shiba Inu coin has landed on the tally of the top 10 tokens purchased by the biggest whales in the last 24 hours. Then in the middle of next year, the crypto price forecaster sees Shiba rising to $0.00005546. $1 means almost 1803651% up from price $0.00005544 USD. The Federal Reserve estimates that there are around $8 trillion in coins in circulation across the globe. But this would require burning a significant amount of the token for the price to rise to 1 dollar. Dogetti is inspired by The Godfather and presents a fun concept to the meme coins currency. It could happen if enough SHIB token is burnt. However, he was working with dogecoin developer to bringing real utility in dogecoin ecosystem. But at the end of the day, the significant winners were Dogecoin and Shiba Inu. Shiba Inus biggest catalyst yet may be days away. Chipotles first investment in bitcoin Microsoft is a company that specializes in (MSFT), Amazon is a company that sells books (AMZN), The Total Market Capitalization of the Worlds Stock Exchanges. Nevertheless, rumors have been swirling on social media that this public test is coming relatively soon. It defies logic that SHIBs market value is 54 times more than Bitcoins, 100 times greater than Ethereums, 27 times greater than Apples, 2.5 times greater than US GDP, or half of global GDP. They are also working on an Ethereum Layer-2 solution Shibarium and a Shiba Inu Metaverse. The will shiba inu reach $1 cent in 2022 is a question that many are asking. No, Shiba Inu will probably never reach and sustain a $10 token valuation. Shiba Inu gave back some of those gains last year, when it fell along with the entire cryptocurrency market. Shiba Inu is just behind Dogecoin in the top 10 of all meme cryptocurrencies, despite a sharp decline in the market worth to the current $6.2 billion as of September 25, 2022.
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