Apr 14, 2023
Elon Musk was a supporter of a dog-themed cryptocurrency called Dogecoin that gained traction due to his frequent tweets about dogs and cryptocurrencies. There is a big chance this inspired the SHIBA coin, just like thousands of other meme coins.
What is a SHIB Coin?
Shiba Inu is the original Japanese dog breed used as Dogecoins symbol. The Shiba Inu ecosystem is based on the guiding principles described in the woof paper, the canine version of a white paper highlighting cryptocurrency project outlines and roadmaps. SHIB is an Ethereum-based ERC-20 token, and Ethereum was chosen over other platforms because it is already robust, secure, and well-established and allows for actual decentralization.
Its popularity and success are mainly due to the large cryptocurrency community of SHIB supporters, the so-called ShibArmy, and online influencers that help pump the price. The cryptocurrency’s official Twitter account, for instance, is followed by 3.6 million people, more than other top coins like Solana (2.2 million followers) or Cardano (1.3 million followers), or even Ethereum (3 million followers). Overall, SHIBs price gained over 27,000,000% from January to October 2021.
For a long time, the SHIB token has been regarded as a pump-and-dump cryptocurrency, mainly because its been hard for users in the real world to grasp its utility. However, its website mentions that the Shiba token is A Decentralized Meme Token (Meme Coin)that Evolved into a Vibrant Ecosystem and got to the heart of its people because the “dogecoin killer” popularity resonated with the crypto community.
Who Created the Shiba Inu Coin?
In 2020, an anonymous person or group called Ryoshi created a token named after the animal to continue the series of dog meme cryptocurrencies. After gaining much value in 2021, it officially became Dogecoins rival, leading Floki Inu, Akita Inu, and Dogelon Mars.
In the range of one year, from August 2020 when the cryptocurrency was created until October 2021, the SHIB coin raised from a low of $0.000000000056 to an all-time high of $0.00008616, rising an incredible 150 million percent.
Also, a crucial moment in the coins history was the generous donation of $1 billion in SHIB that Ethereums lead engineer and co-founder Vitalik Buterin granted to help fight the devastating spread of COVID-19 in India, making it the largest donation was ever given in history.
Shiba Inu Price
Influencing SHIB army Shiba Inu has one of the most vibrant communities in the digital currency ecosystem of today, and most have come to trust the meme coin for innovative utilities that can help drive growth. The meme coin just has to appeal to its army for its longer-term growth push, and this it can do with the emergence of Shibarium and other functional partnerships it is inking across the board. Shiba Inu is now a major brand in Web3, and more eyes are fixed on the token that is pivoting to be a major Layer 2 driver in the cryptocurrency market, and this fact is certainly influencing shiba inu’s price.
For a long time, the price has been stable. From mid-2022 the Shib price moved in a small range despite the turmoils in the crypto world. Looks like the SHIB army gave stability to the Shiba inu when the whole market collapsed.
Market Sentiment and Potential Demand
The first unique component of the Shiba Inu ecosystem is its total supply. An impressive one quadrillion (1+15 zeros) SHIB tokens were minted at inception in August 2020, the highest number of coins ever generated in the crypto space.
The live Shiba Inu price today is $0.000011 USD with a 24-hour trading volume of $177,059,676 USD. The current CoinMarketCap ranking is #14, with a live market cap of $6,565,346,070 USD. Following its launch, 50% of Shiba Inu’s supply was locked in the decentralized exchange Uniswap. Here, users perform automated transactions between cryptocurrency tokens on the Ethereum blockchain and earn and swap cryptos through smart contracts.
The system is also known as an automated market maker protocol (AMM) that incentivizes users to become liquidity providers in exchange for a share of transaction fees and free tokens.
Main Factor which Influencing the Shiba Inu Price
Shiba Inu price is rising as along with competitor Dogecoin it is observing a notable increase in network activity. Burning Shiba Inu could be the catalyst for huge returns in 2023.
SHIB was initially launched with a supply of 1 quadrillion tokens, half of which were put into Uniswap, and the other half were sent to Ethereum co-founder Vitalik Buterin. In May 2021, Buterin announced that he had burned 90% of his SHIB holdings, which has dramatically reduced the pool of SHIB and should therefore increase its value.
Shiba Inu coin has a maximum total supply of 999,990,886,324,150 tokens, but a significant number of tokens have already been burnt, reducing the accessibility to 589,368,601,378,954 tokens. The current availability of Shiba Inu coin stands at 573,927,236,089,847 tokens, with a circulating supply of 15,441,365,289,107 tokens available in the market. Additionally, some tokens have been staked as xSHIB. Burning tokens reduces the overall supply of Shiba Inu coin, potentially making each token more valuable and highly volatile. The initial supply of Shiba Inu coin was 410,631,398,621,045 tokens, with a large portion of tokens being burnt since then. Overall, Shiba Inu coin has a complex supply structure, with a high maximum supply, a large total supply, and a relatively low circulating supply, thanks to the burning of tokens.
I would like to take a moment to address an important update regarding the total supply of $SHIB on our website. As you may have noticed, the numbers have changed. The total burnt from initial supply is now 410,630,074,492,220, and the total supply is now(Video) SHIBA INU COULD REACH $0.0001 IN 2023 OR 2024.
— Shibburn (@shibburn) April 2, 2023
Historical Performance and Shiba Inu Price Predictions
Shiba Inu (SHIB) entered the market as a puppy in August 2020 trading at $0.000000001. Prices mostly fell for the first month, with SHIB finishing August with a price of about $0.0000000002. Prices doubled at the start of September but then declined again to $0.00000000014 by the end of the month. Shiba Inu’s all-time high is $0.000086. This ATH was reached on October 28th, 2021. Here, you can check the current price and the average price.
It’s important to mention that price predictions are based on numerous factors and are inherently uncertain, so any prediction should be taken with caution.
With that being said, a Shiba Inu price prediction for a good long-term investment would depend on various factors such as market conditions, competition, regulatory changes, and technological advancements. If Shiba Inu continues to gain popularity and adoption, it could potentially lead to an increase in demand for the coin, which could drive up the price over time.
On average, the coin price of Shiba Inu tends to be more volatile than other cryptocurrencies. However, if you are considering Shiba Inu as a long-term investment, it is important to focus on the overall trend rather than short-term fluctuations.
Will Shiba Inu Coin Reach $1 in 2023?
The SHIB army believes the Shib token price will reach $1 in the future. Of course, this price prediction has a theoretical chance of becoming a reality. But the technical analysis has a different suggestion, for now. Currently, more than 589 trillion Shiba Inu tokens are in circulation. The token’s price of around $0.00001 at the time of writing translates into a market capitalization of roughly $6 billion. Accordingly, at its all-time high, Shiba Inu had an implied valuation of nearly $50 billion (factoring in token inflation to today).
Theoretically, if the Shib price were to surge to the $1-per-token level, that would imply a valuation of a little more than $589 trillion. And that would make Shiba Inu the most valuable asset globally by a wide margin. Just for context, the global gross domestic product was $96.5 trillion as of 2021.
Should you buy Shiba Inu? Those who apply any fundamental technical analysis to their valuation models will see that such a valuation is impossible to obtain. The only way it could reach $1 would be a gargantuan reduction in the total supply of Shiba Inu tokens, and at the moment there’s no effective mechanism for doing that.
Cryptocurrency regulations have been a hot topic in recent years, and the effects of these regulations on popular cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB) are becoming increasingly apparent.
The potential benefits of improved government regulations for these digital currencies include increased investor confidence, reduced risk of fraud, and greater transparency. On the other hand, tighter regulations could lead to higher costs for investors and restrictions on how they can use their funds.
There are new rules for crypto-asset service providers in Europe. The new rules require crypto-asset service providers to respect strong requirements to protect consumers wallets and become liable if they lose investors crypto-assets. The crypto world is evolving rapidly and regulators are struggling to acquire the talent and learn the skills to keep pace given stretched resources and many other priorities. There are also predictions that there will be new laws for crypto regulation in 2023.
Despite these obstacles, Shiba Inu remains a popular choice and a good investment among crypto investors due to its low cost and high potential returns. With more governments around the world introducing cryptocurrency regulations, it will be interesting to see how this affects Shiba Inu’s price going forward.
How to buy SHIBA?
The so-called “Dogecoin killer” is so popular now that it can be bought anywhere. All of the biggest crypto exchanges list the SHIB, including Coinbase and eToro.
Choose a cryptocurrency exchange: Select a reputable cryptocurrency exchange that supports Shiba Inu (SHIB) trading. Some popular options include Binance, Coinbase, and Kraken, among others.
Create an account: Sign up for an account on the selected cryptocurrency exchange. This typically involves providing personal information, such as your name, email address, and a government-issued ID.
Fund your account: Add funds to your cryptocurrency exchange account using a debit or credit card, bank transfer, or other supported payment method.
Locate Shiba Inu: Navigate to the trading page on the cryptocurrency exchange and search for Shiba Inu (SHIB) in the available cryptocurrencies list.
Place an order: Once you’ve located SHIB, you can place an order to buy it using the funds in your exchange account. You’ll need to specify the amount of SHIB you want to buy and the price you’re willing to pay.
Withdraw your SHIB: After your order has been executed, your SHIB coins will be credited to your exchange account. You can then withdraw them to a compatible digital wallet for safekeeping.
The Shiba Inu coin is an Ethereum-based token created in August 2020, inspired by Dogecoin and the Shiba Inu breed. It gained popularity and success through the ShibArmy and online influencers, with its price rising over 27,000,000% from January to October 2021. The coin has been regarded as a pump-and-dump cryptocurrency due to its lack of utility, it is evolving into a vibrant ecosystem with the emergence of Shibarium and other functional partnerships. The burning of Shiba Inu coins could potentially make each token more valuable, and it is one of the main factors influencing its price. Despite the turmoils in the crypto world, the SHIB army gave stability to Shiba inu when the whole market collapsed. The strong and growing community shows how important communication is with the supporters in every project. The loving community provides a theoretical chance for Shiba Inu reach the $1 landmark but any realistic price prediction based on technical analysis would convey the contrary.
Here at Walletinvestor we see the potential in this coin and will certainly keep an eye on the price of Shiba Inu.
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I am a junior copywriter, my main field is the crypto world and the real use case of the blockchains. I am also an expert of the NFTs and addicted to F2P games, also I am a game developer. My dream is to try all Blockchain games at the release.
Will Shiba Inu Coin Reach $1 in 2023? ›
Shiba Inu is predicted to reach the $1 mark this year, but whether its price veers in the right direction remains to be seen. Cardano has been riding on the success of its NFT Sales, but these too remain subject to market volatility.Can Shiba hit 1 cent by 2023? ›
With the current circulating supply, Shiba Inu is unlikely to reach 1 cent any time soon. The overall market cap of Shiba Inu has been fluctuating around $5 billion for the last couple of weeks.Will Shiba Inu coin reach $1 penny? ›
While the answer to whether Shiba Inu reach 1 dollar is likely a “No,” the possibility of the coin reaching 1 cent is much higher than $1 dollar of 50 cents. This does not mean it is a certainty. In fact, it is still very unlikely but at least theoretically possible. This could be similar to the run of Dogecoin itself.Will Shiba Inu skyrocket in 2023? ›
According to our Shiba Inu price prediction, SHIB price is expected to have a -11.18% decrease and drop as low as by May 21, 2023.How high will Shiba go in 2023? ›
Further, according to our analysis in the long term, Shiba Inu price prediction for November 2023 shows the average price of SHIB at $0.0000031 and the highest possible price for November 2023 would be $0.0000033.Can Shiba reach $1 dollar in 10 years? ›
At that pace, it would take more than 7,100 years to achieve the goal. On a positive note, that's a little sooner than one of my previous predictions of more than 10,000 years. But the bottom line is this: Not only will Shiba Inu fail to reach $1 in 2023, but it's also unlikely to get there in our lifetime.How high will Shiba go? ›
Shiba Inu's expansion appears to be influenced by the token's introduction into the metaverse. We anticipate that Shiba Inu's share of this market will result in gains for the coin. We predict that the SHIB price will rise to $0.000036 in 2023.Will a Shiba Inu hit 10 cents? ›
Can Shiba Hit 10 Cents? As per Shiba Inu price forecasts, SHIB will not hit 10 cents within the next 10 years.Can Shiba Inu go over a dollar? ›
So, can Shiba Inu reach one dollar? The answer is almost certainly not—or, at least, not with current circulation levels. Bitcoin's current market value, which typically ranges within the $10,000s, is driven by the coin's fixed scarcity of having a maximum supply of 21,000,000 tokens that can ever be minted.What if Shiba Inu reaches a dollar? ›
If Shiba Inu were to, theoretically, surge to the $1-per-token level, that would imply a valuation of a little more than $589 trillion. And that would make Shiba Inu the most valuable asset globally by a wide margin. Just for context, global global gross domestic product was $96.5 trillion as of 2021.
Can Shiba Inu still make you a millionaire? ›
Considering its historical movements and network developments, Shiba Inu indeed has the potential to increase its price and even make a careful investor a millionaire, although it might be a long way before it reached the likes of Bitcoin and Ethereum (ETH) in value per unit.What will Shiba Inu be in 2040? ›
In the long term, the Shiba Inu Coin has huge potential. Our maximum price prediction for Shiba Inu Coin is $0.089 in 2040. However, the minimum price level of a SHIB Coin can be around $0.054. If the market gets bullish, the Shiba Inu Coin may surge more than our price prediction in 2040.What will Shiba In 2050 be worth? ›
Shiba inu coin price prediction 2050
The year 2050 can end with an average price $1.20 with the minimum price value of shiba inu coin be around $0.80. Along with Shiba inu coin, many cryptos can hit their new all time high this year. The maximum price is expected to be trading around $1.80.
It may appear valuable given its market cap, but it's worth is purely speculative. Keeping this in mind, it is not a good idea to put too much money into shib. Shiba inu cryptocurrency can help you make a quick buck, but it is not a long-term investment.How much will SHIB cost in 2030? ›
Shiba Inu price prediction October 2030: Shiba Inu's price for October 2030 according to our analysis should range between $0.00015 to $0.00018 and the average price of SHIB should be around $0.00016.How much is 1 million Shiba Inu worth? ›
How much is 1000000 SHIBA INU in US Dollar? 1000000 SHIBA INU is 8.711741 US Dollar.Will Shiba hit 50 cents? ›
SHIB Price Prediction. 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.How much Shiba needs to be burned to reach $1? ›
But how many tokens need to be burned to generate a price of $1? All else equal, shrinking the supply to 7.5 billion tokens would theoretically result in a price of $1, based on Shiba Inu's current value of $7.5 billion.Can Shiba Inu reach 0.1 dollar? ›
But with the understanding that anything is possible within the crypto arena (as SHIB has already proven), attention has shifted to the future. In particular, Shiba Inu's community believes it could make a run at $0.01 in 2023.What if I invest $100 in Shiba Inu? ›
1, 2021, Shiba Inu tokens were trading hands at a price of $0.000000000077, and today they trade at about $0.00001114. That's a gain of 14,467,432%. In dollar terms, had you invested $100 on Jan. 1, 2021 and held on until today, you'd be sitting on an absolute fortune worth almost $14.5 million.
Which crypto will explode in 2023? ›
11. Lucky Block (LBLOCK) – Crypto Casino with Instant Payouts and Sportsbook. In the casino space, some analysts believe that the next cryptocurrency to explode in 2023 will be Lucky Block (LBLOCK). Unlike traditional online casinos, Lucky Block cuts out the need to complete the KYC process.Can Dogecoin reach $1? ›
Besides experiencing a speculative craze like the one it experienced in early 2021, it seems unlikely Dogecoin could hit $1 per token simply based on the fundamentals. Maybe it will have real-world uses in the future. But this is where the cryptocurrency truly has no advantage.How much is 1 billion SHIB worth? ›
Current value of 1000000000 SHIB in USD is 8,720 USD
This is the real-time data fetched from our partnered price aggregators. At the moment, you are looking at the conversion of 1000000000 SHIB when 1 SHIB is valued at 0.0000087 USD.
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20000000 SHIBA INU is 173.961532 US Dollar.How many coins is $100 in Shiba Inu? ›
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A $1,000 purchase could have bought 12,500,000,000 coins. The 12.5 billion coins would be worth $285,500 today based on a current price of $0.00002284 for SHIB.How many Shiba coins can I buy with $50 dollars? ›
The conversion value for 50 USD to 5643340.858 SHIB. BeInCrypto is currently using the following exchange rate 112866.818. You can convert USD to other currencies like BNB, SOL or STETH. We updated our exchange rates on 2023/05/14 14:35.What if I had invested $1,000 in Shiba Inu? ›
Returns From Shib: If $1,000 is invested now in Shiba Inu, it could fetch roughly 92 million of the crypto (based on Saturday's closing price of $0.00001087). And if the meme coin revisits its late-2021 high, that same amount could be worth $8,140.16, a neat return of 714%.Is it possible to cash out Shiba Inu coin? ›
To cash out Shiba Inu Coin, access your wallet or exchange account and simply choose the amount you'd like to sell. You'll have to agree to any fees that are assessed before the transaction is signed and completed, but once you've done that you'll have fiat ready to be transferred to your bank account.
How much would $100 be in Shiba? ›
100 US Dollar is 10015266 SHIBA INU.Can SHIB coin make me rich? ›
Although the numbers for Shiba Inu may look minuscule, SHIB has the potential to increase its price in the future and even make a careful investor a millionaire, although it is still a long way before reaching the likes of Bitcoin (BTC) and Ethereum (ETH) in value per unit.How much is 3 million Shiba Inu worth? ›
How much is 30000000 SHIBA INU in US Dollar? 30000000 SHIBA INU is 260.079936 US Dollar.How much is $100 million Shiba Inu worth? ›
100000000 SHIBA INU is 867.635659 US Dollar.
So, you've converted 100000000 SHIBA INU to 867.635659 US Dollar. We used 115256 International Currency Exchange Rate. We added the most popular Currencies and CryptoCurrencies for our Calculator. You can convert SHIBA INU to other currencies from the drop down list.
Crypto experts and investors are optimistic that the token will rise gradually over the course of the next ten years. By the turn of the decade, they expect SHIB tokens to be trading at between $0.002 and $0.009.What will be the price of Shiba in 2035? ›
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Bullish Shiba Inu (SHIB) price predictions range between $0.00004 and $0.000075 by 2030. Market analysts believe SHIB could reach $0.000031 by 2025.What will Dogecoin be worth in 2040? ›
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Should i buy SHIB or DOGE? ›
Shiba Inu is a relatively recent addition to the cryptocurrency market, while Dogecoin has a greater market value and a longer track record. With a thriving forum and numerous online groups devoted to the coin, Dogecoin also has a larger and more active user base.Is SHIB coin risky? ›
It may seem valuable, considering its market cap, but its value is only entertainment-based. Keeping this in mind, it would not be wise to invest too much of your money in shib. The shiba inu crypto may help you make a quick buck if the price goes back up, but it is not a reliable long-term investment.How long will SHIB reach $1 cent? ›
To reach 1 cent,Shiba Inu will have to rise 900x.At 1 cent,Shiba Inu's market cap would be woth around 5.8 trillion. If SHIB were to grow at the rate of 25%every year,it would take Shiba Inu about 30 years to reach 1 cent. But that is only a theoretical possibility,which is impractical in reality.Is Shiba Inu a good long term investment? ›
Most analysts believe that Shiba Inu could rebound in 2023 alongside the rest of the cryptocurrency market. If this happens, most analysts expect Shiba Inu to trade at an average price of $0.00004 in 2023. In the long term, analysts expect Shiba Inu to hit a high of $0.01 in 2025 if there is another major rally.What will SHIB coin be in 5 years? ›
Based on their SHIB price predictions, the coin may drop lower to $0.000001086 by the 2023 year-end. Whereas another expert GOV Capital predicts that Shiba Inu (SHIB) price may be $0.000231 by the next 5 years.
To reach 1 cent, Shiba Inu would have to increase in price by a factor of 1111. Assuming a 50% burn rate and continuing with the current development plans, SHIB can reach $1 in 31 years.How much Shiba Inu is $2,000 dollars? ›
2000 US Dollar is 212019372 SHIBA INU.How much is 300 dollars in Shiba Inu? ›
Current value of 300 USD in SHIB is 33,632,286.99 SHIB
This is the real-time data fetched from our partnered price aggregators.
500000000 SHIBA INU is 4357.548 US Dollar.Can Shiba Inu reach 0.001 in 2023? ›
Shiba Inu getting sent to the doghouse is more likely
But can Shiba Inu truly rally almost 8,900% in 2023 and reach $0.001? While anything is possible in the cryptocurrency space, as SHIB has previously demonstrated, there's virtually no chance of this lofty price target becoming a reality this year...or ever.
Can Shiba Inu reach $0.01 cent? ›
Based on its current price of $0.000012, Shiba Inu would need to rise a ridiculous 83,000% to hit the $0.01 mark. But this wouldn't exactly be the first time Shiba Inu quickly appreciated in value. From the start of 2021 to Oct.What is the possibility of Shiba Inu reaching 1 cent? ›
To reach 1 cent,Shiba Inu will have to rise 900x.At 1 cent,Shiba Inu's market cap would be woth around 5.8 trillion. If SHIB were to grow at the rate of 25%every year,it would take Shiba Inu about 30 years to reach 1 cent. But that is only a theoretical possibility,which is impractical in reality.What is the future of SHIB in 2030? ›
Shiba Inu is one of the most popular cryptocurrencies and is widely adopted at this point. With supply continually going down, and demand on the rise, Shiba Inu is likely to test the $0.001 mark in 2030 for the first time since it was launched.Can SHIB reach .01 dollar? ›
Those who apply any sort of fundamental mathematics to their valuation models will see that such a valuation is impossible to obtain. The only way it could reach $1 would be a gargantuan reduction in the total supply of Shiba Inu tokens, and at the moment there's no effective mechanism for doing that.Can SHIB reach 50 cents? ›
The forecast of the price of the SHIB cryptocurrency with respect to the goal of 50 cents on the dollar is clear: it is a value that this token it won't reach in 2022, and unless the math changes, it won't do it in the following years either. In fact, Shiba Inu (SHIB) will most likely never be worth $0.50 or 50 cents.How long will it take Shiba Inu to reach $1? ›
At that pace, it would take more than 7,100 years to achieve the goal. On a positive note, that's a little sooner than one of my previous predictions of more than 10,000 years. But the bottom line is this: Not only will Shiba Inu fail to reach $1 in 2023, but it's also unlikely to get there in our lifetime.Can DOGE hit $1 dollar? ›
But just how realistic is that scenario? For one thing, in its nearly 10-year history, Dogecoin has never once hit the $1 mark. The all-time high for Dogecoin is $0.74, which it hit back in 2021, when billionaire Elon Musk was tweeting about the meme coin regularly.Which crypto can give 1000x in 2023? ›
DigiToads (TOADS) : The Meme Coin with 1000x potential could outperform Dogecoin (DOGE) in 2023. DigiToads (TOADS) is a new meme coin that has taken advantage of Dogecoin's popularity in crypto. It is also making strides to become the most recognized cryptocurrency on the market by the end of 2023.Which coin is going to pump? ›
We have narrowed down our choice of crypto coins that are expected to pump 30x before 2024 to eight. Prime suspects among them are Love Hate Inu (LHINU), DeeLance (DLANCE), Metropoly (METRO), Ecoterra (ECOTERRA), and RobotEra (TARO), as these tokens represent a new era in crypto development.What crypto under 1 cent will explode? ›
What is the best penny crypto to buy now? The best crypto under a penny that will explode in 2023 is AiDoge (AI). This is the utility token that fuels the AiDoge ecosystem, which is developing a first-of-its-kind meme generator using AI.