Invest better with The Motley Fool. Shiba Inu is one of the most popular cryptocurrencies out there. If the cryptocurrency market enters another bull run, SHIB could very well be one of the meme coins to explode. Although launched in 2020, it was in 2021 that it became popular after Vitalik sold 50 trillion SHIB tokens and donated the proceeds to the India COVID fund. With an estimated 549 trillion SHIB coins still in circulation, per CoinMarketCap.com, a big burn event would be needed to pump up the value of each remaining token. Almost every cryptocurrency lost more than half its value in 2022, and the price of SHIB dropped by about 80%. We look at relevant market data and examine potential the catalysts behind SHIB's long-term growth. As a result, Crypto traders are keeping an eye on. Being an emotional investor taints our judgment and causes us to make poor financial judgments. Perhaps no cryptocurrency is more responsible for setting the bar high -- at least when it comes to one-year returns -- than meme coin Shiba Inu (SHIB). This would represent a 32.18% price increase for SHIB in the next 5 days. They are, however, not convinced that the token can reach $100 or $10 in the next few years. A number of specific catalysts would be necessary for SHIB tokens to catapult to $0.001. The next time someone tells you SHIB is going to 10 cents soon, they are effectively arguing that all 7.8 billion people on Earth are about to pour their cash and savings into SHIB. In other words, it removes coins from the circulating supply and, in theory, makes each remaining token that much more valuable. As a result, Shiba Inu took off. Even the thought of getting here is simply unfathomable. Conservative Prediction: Can Shiba Inu reach $1 in 2023? In contrast to Dogecoin, which has its own blockchain, SHIB is issued on the Ethereum blockchain. The big question on the minds of SHIB holders and cryptocurrency investors is whether Shiba Inu has an encore performance in the works. This does not mean it is a certainty. Unfortunately, developers have stated that technical issues delayed the public beta test of Shibarium. From there also . They are also working on an Ethereum Layer-2 solution Shibarium and a Shiba Inu Metaverse. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. SHIB is trading up 29% to $0.00001037 at the time of writing. Lets compare this market cap with other financial instruments and determine whether it makes sense or not. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. Shiba Inu, a new Dogecoin-inspired cryptocurrency launched last August, has now formed ties with crypto.com, the world's largest cryptocurrency exchange. You can use Shiba Inu to pay at certain merchants. The volatility and momentum associated with digital currencies have led to some truly jaw-dropping gains. Top 10 Meme Coins That Could Skyrocket In 2023. The most you can do with SHIB tokens is transfer them from one wallet to another. This is impractical. Meme coins like Dogecoin and Shiba Inu Coin may experience a wild ride in 2023. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Just like the broader crypto market, the Shiba Inu (SHIB) price is currently at a crucial turning point from a technical chart analysis. Each offers distinct ways for stockholders to raise their investment return. Shiba Inu is of course not the only contender in the meme coin sector. This 40% increase was substantially greater than the rises noticed by other altcoins during this period. At its peak, the total cryptocurrency market cap was just slightly above $3 trillion. We know top market exchange also interested to bringing shiba on their platform after seeing huge spike in community. Sure, a near-term catalyst like the Shibarium launch could push Shiba Inu higher. Is it expected to reach $10 or more in the next five years? 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. Shiba Inu Price Prediction: How High can SHIB Price reach by 2030? Though the rate at which Shiba Inu price surges varies from one expert to another, the general feeling is that one SHIB token may be selling for between $0.000024 and $0.00038 by the end of 2025. Apple, Tesla, Google, etc., are precious companies because they make excellent products that consumers use and love. however, Robinhood faces backlash for memecoin listing and even other exchange also facing similar kind of situation. While the answer to will 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. In fact, it is still very unlikely, but it is theoretically possible. 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. On the flip side, there are many who . Dogetti: The Dogefather of Meme Coins Family and community are the foundation of this coin's success. 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. 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. In particular, developers want to create blockchain-based games that utilize non-fungible tokens (NFTs). 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. Dogecoins current supply is 132 billion coins, with about 5 billion new coins being added per year. Independent miners worldwide run thousands of mining computers (rigs) to keep the network alive and running. Most probably between end of 2024 or even start of 2025. Will Shiba Inu (SHIB) Eventually Reach $100? It's now the 13th biggest cryptocurrency by market value. SHIB has gained about 25,000,000 percent over the past year, putting its average monthly growth at more than 2,000,000 percent. Can Shiba Inu coin reach 1 cent or $1? Continue with Recommended Cookies. The price has recently dropped to $0.0000082. Additionally, transaction fees can soar during these periods of congestion. This News Confirms. It is not anchored on unique blockchain technology - just hosted on Ethereum, it has not achieved a medium of exchange status, and it has no real value. Missed DOGE? Soloway's price projections have historically been accurate. Big News: Ripple Price is about to TRIPLE? 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. This is a major development because the primary criticism directed at Ethereum is its increased gas fees and low latency functionality. But not a single price prediction we have come across shows the possibility of SHIB tokens selling for $10 any time soon. Shiba Inu Coin ON THE MOVE! Not only are these games a lead-in to future metaverse ambitions, but they're expected to fuel a marketplace where NFTs can be bought and sold. Yesterday, Shiba beat Ethereum in 24-hour trending volume collectively on DEX and CEX. Jack Ma, Elon Musk, Edward Snow, Chamath, cathie wood, Changpeng Zhao and jack dorsey tweeted when shib will explode to reach 1 cent or $1 in 2021. The platform aims to reach a coin value of $0.00001474 by the end of 2023, which would reflect a further 19% increase to the present price. Even so, this sharp rise was overtaken by the latest doubling of the Dogecoin price. Currently trading at $0.000020, the, For starters, it has no real value. SHIBA INU recorded 15 green days in the last 30 days. SHIB Burn Rate Turns Out Extremely Low In February 1/2 ? Making the world smarter, happier, and richer. Lets see how this market cap stacks up against other financial products and see whether it makes sense. A currency does not have inherent value long term. Read Also: Is Shiba Inu (SHIB) Worth Buying? Cost basis and return based on previous market day close. The whole cryptocurrency market cap, including all coins and tokens, is less than $2 trillion. This is a Layer 2 solution that could solve some of Shiba Inu's problems. Are you lookingfor a chart analysis toolthat doesnt distract you with community messages and other noise? Interest in blockchain-based gaming, as well as NFT trading/ownership, has fallen off a cliff. 6% of every transaction is redistributed to all holders of Surge Inu, Surge Inu promises to buy SHIB and $SURGE at any major market cap milestone and burn the supply. How high can Solana go? The cryptocurrency Shiba Inu has wowed investors with its path up the charts. During its monumental run-up in 2021, platforms like Twitter and Reddit were flooded with Shiba Inu mentions. Unlike Apple, Tesla, or Microsoft, it is neither a product nor a platform. There you have it, Shiba Inus goal is not to reach $10 or even $1. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. So it is essential to research any cryptocurrency before you decide to invest in it. Will Shiba Inu prices rise again? While it seems. So, the meme token could defy the SHIB price predictions and reach 1 cent earlier than expected. According to CoinMarketCap, there are currently 549 Trillion SHIB coins in circulation. What would it take for Shiba Inu to rally close to 8,900% and hit $0.001 in 2023? Click here to watch the talks of the amazing Berlinverse speakers. 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. As we can quickly deduct from the table above, the likelihood of the Shiba Inu price coming anywhere close to $1 at current levels of circulating supply is simply not feasible. $1 means almost 1803651% up from price $0.00005544 USD. Shiba Inu has a total supply of 1 quadrillion tokens. It's always traded at a fraction of a cent -- and for good reason. While on our last post we wanted to remind everyone that BONE ? Sean Williams has no position in any of the stocks mentioned. On the one hand, Peter Mallouk, Creative Planning CEO, stated that . For the last 7 days, Shiba Inu prices have been fluctuating and trading within the $0.000020 and $0.000022 range. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. The token was presented as an alternative to Dogecoin, and was sometimes referred to as the Dogecoin killer. SHIBs entire market value will be $54.9 trillion at a $0.10 valuation, which is 2.5 times more than US GDP, 54 times more than Bitcoin, 100 times more than Ethereum, 27 times more than Apple Inc. (AAPL), and 55 times more than Teslas (TSLA) market cap. The Motley Fool has a disclosure policy. But over the past decade, cryptocurrencies have turned this traditional moneymaking strategy on its head. Because Shiba Inu is constructed on Ethereum, these considerations have slowed significantly the SHIB networks development. Initially, there were 1000 Trillion SHIB (1 Quadrillion), but around 451 Trillion has been locked away or burned forever. Now coming back to topic, as our platform suggested different prediction for Shiba Coin, as being one of the small investors of Shiba most of you wanted to know what is next target for Shiba in coming months or year. Shibarium will also use five utility tokens to meet its objectives SHIB, BONE, LEASH, TREAT, and SHI. It does not make any logical sense that SHIBs market cap can be 54 times more than that of Bitcoin, 100 times more than Ethereum, 27 times more than Apple, 2.5 times more than US GDP, or half of the World GDP. The launch -- whether it happens then or later -- clearly could drive Shiba Inu higher. Despite the fact that SHIB is identical to other ERC20 token currencies, the community is what sets it apart. Nonetheless, the price has been reduced even further. pic.twitter.com/zQRoOuL9oW. In a worst-case scenario, if ADA fails to rebound at the $0.35 price mark, ADA should go lower to reach the next target of $0.30. But you would have to burn more than 99% of today's supply to reach a level that would support significant gains. You might actually LOVE this Answer! But here's the problem: Shiba Inu actually doesn't offer anything more than the thousands of other cryptocurrencies out there. Thousands of mining machines (rigs) are used by independent miners across the globe to keep the network functioning. 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. As of this writing, there's no set date for when Shibarium will be beta-tested in public view. With its unique 'dog-themed' design and meme-based marketing, it has attracted a loyal fan base and gained a lot of attention from investors. Tax on profits may apply. Overall, the Shiba Inu price was lower after the crash than it had been earlier. Shib coin is selling for about $0.0000085 per coin with a market value of $3.4 billion, so there's still plenty of time to grow. Unless something fundamental such as its volume, changes, Shiba Inu cannot reach $1, or even 50 cents for that matter. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Learn More. To add, only 715 merchants on online business directory Cryptwerk were accepting SHIB as a form of payment, as of January 2023. But at the end of the day, the significant winners were Dogecoin and Shiba Inu. 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. Therefore, the SHIB coin is not something new. We can expect 1 cent mark probably in year 2022. Can Shiba Inu Reach $1? This effectively invalidates the pre-market crisis predictions that expected the price rally to thrust it towards $1. When SHIB was on the way up, many token holders were wondering if Shiba Inu will reach 1 cent. It is to outpace Dogecoin and beat its market capitalisation even if the SHIB token prices remain under a penny. On the Ethereum network, SHIB is a monetary token. The Motley Fool has positions in and recommends Ethereum. This 40% increase was substantially greater than the rises noticed by other altcoins during this period. It could happen if enough SHIB token is burnt. Shiba Inu has a circulating supply of 549.063 Trillion SHIB tokens. Shiba Inu coin has landed on the tally of the top 10 tokens purchased by the biggest whales in the last 24 hours. This Meme Coin PUMPED 50% in the past 24 hoursWill it continue to Grow? However, due to the general decline of the crypto market, that hasnt come to pass. Even reaching lower price milestones, such as $0.01 or even $0.001, seems very difficult. To reach $0.10 shib would need to be 10trillion, aka the most valuable asset in history. At its all-time high, SHIB had a market capitalization of $43 billion. And while the pressure on Bitcoin - which was the epicentre of the shock - has cooled down. That would be a near 620% increase from where the Shib coin is . This could be similar to the run of Dogecoin itself. According to the figure above, for SHIB to attain a market size of $54.9 trillion, the overall market cap of Shiba Inu must be 549 trillion x $0.10 = $54.9 trillion. Shiba Inu runs on a decentralized computer system with a blockchain database. Shiba 2024 Price Forecast in INR: Shib Coin is predicted to touch 0.006 by the end of 2024. Shibarium is the foundation for all of Shiba Inu's other potential ecosystem ventures. SHIB. Right now, Shiba Inu trades for a fraction of a cent. The will shiba inu coin reach 10 cents is a question that many are asking. And according to the CoinMarketCap list of the largest cryptocurrencies, Shiba Inu - the Dogecoin Killer - is ranked in the top 15 cryptocurrencies w. ith a market capitalisation of $11 Billion. SHIB is based on Ethereum ERC20. Buy These 2 Stocks in 2023 and Hold for the Next Decade, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, 2 Stocks That Are About to Make Their Shareholders Richer, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, finish 2021 higher by a "pedestrian" 46,000,000%, virtually no chance of this lofty price target becoming a reality, Copyright, Trademark and Patent Information. In short, Shiba Inu (SHIB) will never hit $0.10 or 10 cents. Per Market Realist, the current predictions suggest Shib coin will reach a value of $0.000019 per coin in 2022 and later hit $0.000061 per coin in 2025. Even during SHIBs all-time high in October 2021, when the token was trading at $0.0000881, SHIB would have needed to increase in price by 113x to hit a price of $0.01. And even Shiba Inu token developers know it. #SHIBA is a popular coin with a. It indicates that the Shiba Inu (SHIB) currency has no autonomous mining network. 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. According to Shiba Inu developers, Shibarium will be focused on providing cheap and fast token transactions for metaverse and gaming use cases. 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. This low price was a reflection of Shiba Inu's creator placing 1 quadrillion tokens in circulating supply. Shiba Inu developers are about to launch Shibarium. The only significant difference was the creator built Shiba Inu on the Ethereum network.
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