It could happen if enough SHIB chips are burned. The world doesnt even have enough money to push the price of SHIB to $1. With the hype around Dogecoin, other meme coins enjoyed some interest. Yet neither saw popular appeal until the past year or so, thanks in part to Musk's tweets back in May. The Shiba Inu coin received a lot of attention after that. Shiba Inu really . Therefore, if you are interested in Shiba Inu coins, keep track of their prices and trading volume daily. The crypto is on the rise this year, with a gain of 64% so far. The answers to some of these questions are: Ans: Since a Bitcoin halving is expected at the start of 2024, you can say that the price of Shiba Inu coins will go as high as $0.01 by the end of 2024. POLKADOT etc. Ultimate Guide to Become A Crypto Community Manager 2023. For example, he predicted that Bitcoin would reach a peak of $69,500 in November 2021, which is . However, since its future (and the future of cryptos) is uncertain, nothing I say should be set in stone. Since then, many people have been wondering about its expected future prices especially since Ethereum founder Vitalik Buterin burned over 90% of his Shiba Inu holdings. The popular meme token soared about 45,000,000% back in 2021. Shiba Inu (SHIB -0.54%) may have helped create some millionaires in the past. If the cryptocurrency were to reach $0.01, its market value would top $5.4 trillion. Shiba Inu (SHIB) will never reach $0.50 or 50 cents because it is financially illogical, mathematically impossible. | Crypto Trading Guide For 2023. So far, more than 410 trillion SHIB tokens have been burned, most of them due to Vitalik Buterin. They are called meme coins. It was created as a joke and meant to be traded for fun. They should include some real-world examples. As a result, Shiba Inu took off. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Other indicators are also dropping for the coin as its trading volume of $217M went down by 50% in that same period. 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. Shibarium will decide the future of Shib. For $1, you could buy more than 135,000 Shiba Inu tokens. Here are the scenarios of how Shiba Inu could reach different milestones: The Shiba Inu team announced that Shibarium will be launched soon, details here. But despite this drastic climb higher, the crypto isn't going to hit $0.50 anytime soon. with regard to the token burning mechanism, but first, it must reach 1 cent. 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. Shiba Inu may even touch $1 if the current circulating supply of 550 trillion is burnt at a rate of 90%. Is Shiba Inu a Good Investment? Shiba Inu Market Capitalization. Who knows when Bitcoin was $1, it could go to $69,000. The forecast accuracy remains moderate to low as there are numerous dependent factors like Government regulation, Shiba Inu leadership, and community cohesion. Conversely, the Bollinger bands lower limit trades at $0.00001042, acting as a crucial support level for determining Shiba Inus future price fluctuation. Even reaching lower prices, such as $0.01 or even $0.001, seems very difficult. The popular meme token soared about 45,000,000% back in 2021. In addition, it has a current trading volume of $264 million. Obtaining crypto that could grow by double digits in the soon-to-come bull run is a must for many investors. site: MoneyMorning.com, The Bollinger bands upper limit is at $0.000014, which is a strong resistance level for SHIB. Social Media Sentiment Trends: Ethereum vs Cardano vs Solana, Can Solana Reach $5000, $10000? 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. Many people think of Shiba Inu as an alternative to Dogecoin. Learn More. If the Shiba Inu price increases by 30% annually it will take 25 years for Shiba Inu to reach 1 cent. Compared to DOGE, which has 131 billion in supply for a market cap of $30 billion, it's clear that if there were less SHIB around for the current demand, the value could rise. The Shib community is one of the most well-organized communities in the cryptocurrency market driving the cryptocurrency towards delivering more value to users and not remaining a meme coin. Even after investors burned billions of Shiba Inu tokens, its price didnt change much. Its current outstanding supply is about 550 trillion tokens. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. If more chips are burned, demand will increase as supply decreases. Read our disclaimer to learn more. Looking at the above data and combining it with an active burn program, it is not unrealistic to expect Shiba Inu also to rise 646 times. Copyright 2023 CryptoGlobally | Powered by CryptoGlobally, Sandeep Nailwal to help India during the COVID-19 pandemic, How to do Fundamental Analysis On Crypto Projects, How to Become a Crypto Millionaire [2023], What is Metis Crypto? The Shiba Inu Tokens creator transferred half of the total coin supply to Ethereum founder Vitalik Buterin. The Motley Fool has positions in and recommends Ethereum. However, price forecasts are not set in stone, as market conditions can change dramatically. 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. Here's the bottom line 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. This region, highlighted in the yellow band, has been reinforced by the 50-day EMA and the 200 . First, even with the massive gains back in 2021, Shiba Inu has never even made it close to reaching $0.01. In theory, this is feasible but in practice, this would be quite difficult. Its because $274 Trillion is 3.5 times the worlds GDP! Here are the steps to buying Shiba Inu crypto: Shiba Inu Coin is one of the most popular cryptocurrencies therefore most of the exchanges have listed Shiba Inu for trade. So far, more than 410 trillion SHIB tokens have been burnt, most of that is due to Vitalik Buterin. Shiba Eternity, a collectible card strategy game that enables players to earn rewards, is rated quite well on Apple and Google Stores.. Shibarium, a Layer-2 blockchain is likely to be launched anytime now. By simple math, if the SHIB coin were to reach $1, that would mean it has a market capitalization of $550 trillion. About Us; Staff; Camps; Scuba. They are also working on an Ethereum Layer-2 solution Shibarium and a Shiba Inu Metaverse. Shiba Inu may reach the 50-cents price level if the burn rate majorly increases and multiple developments are added to the platform. And according to Coinbase, those who do trade Shiba Token typically only hold them for an average of six days. One such growing cryptocurrency exchange portal is the ShibaSwap platform which is recently getting a lot of attention from traders and investors. What is digital real estate and is it worth investing in? 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. To make the world smarter, happier, and richer. Therefore, Shiba Inu will not be a good investment choice. Its name is based on the Shiba Inu dog on Dogecoin, and they both have similarities. If the team creates use cases, the Shiba Inu coins future will be bright. Because investors may be wondering if Shiba Inu is getting ready to deliver a performance like that of 2021. Our simulation suggests that Shiba Inu will hit 1 cent by 2053. Your email address will not be published. Is Telcoin A Good Investment? Apecoin Price Prediction 2023, 2025, and 2030: Will Apecoin reach $100 and $1000? Until it does have more real-world applications and is more widely accepted as payment, I don't see the crypto surging much higher. Will the Shiba Inu coin reach 50 cents? Will Shiba Inu reach 50 Cents? The crypto with the cute dog logo caught the eye of investors in 2021 -- less than a year after its launch. And Shiba Inu supporters -- the Shib Army -- built up excitement about the crypto across social media. When he is not writing, he is looking to meet new people. *Average returns of all recommendations since inception. It's the "Coinbase Effect" in action. Shiba Inu gave back some of those gains last year, when it fell along with the entire cryptocurrency market. Then the price of 1 coin will reach 1 cent. Shiba Inu accelerated its dominance in the Q4 of 2021 and onboarded a wide range of users and investors to its network. And as Shiba Inu skyrocketed, more and more investors flocked to this crypto with dreams of getting rich, too. ados.run = ados.run || []; According to our Shiba Inu technical analysis, it has been on a bearish trend since the crypto market crash in May, which plunged several cryptocurrencies to the bottom level in price. According to CoinCodexs forecast, SHIB will not be worth 1 cent in 2024. DOGE might've peaked at $0.74 back in May, but it has since traded around $0.22 or so. It's beginning to reignite the momentum-based euphoria that sparked the. In theory, if Shiba Inu ever exploded in value, this could become a fortune. Your email address will not be published. On 29 October, SHIB made further spikes in the price chart and tried to break its immediate resistance level at $0.000015 but faced rejection due to several ongoing macroeconomic factors such as CPI data, inflation rate, interest hikes, etc. But the cryptocurrency's potential is limited -- and as we saw last year, declines may happen quickly at any moment. All of these developments will improve the functionality of Shiba Inu and may increase its price. The enabling factors are community engagement, execution plans for the future, and the likely growth of cryptocurrencies in the future. Why did the DOGE price only slightly rise? To reach 50 Cents, Shiba Inu will have to rise 32279 times higher. Similarly, the total trading volumes dropped more than . As of 17th November, 20222, the current price of Shiba Inu coins (SHIB) is $0.000009. The cryptocurrency market climbed past $3 trillion in 2021 as investors piled into this exciting newish market. Shibarium would change all of that, with operations moving on to this separate network. Safemoon Price Prediction 2023, 2025 and 2030: Will SafeMoon Reach 1 Cent? Or you can invest in Shiba Inu or stake your holdings to earn passive income. Even 5 years is too long in crypto. Soloway's price projections have historically been accurate. Given that it is currently worth $0.00001432, crossing all of these decimal points will require extraordinary market performance. Because investors may be wondering if Shiba Inu is getting ready to deliver a performance like that of 2021. How do you identify whether its a scam or a good project? If more tokens are burnt, it will increase demand as supply dwindles. Will Shiba Inu Coin Reach 50 Cents? So today, its uses are limited. This is because its a meme coin with little market value. Despite the cryptocurrency's $10 billion in market value, there are only 43 businesses that accept it as payment. This could be similar to the run of Dogecoin itself. Shib Price Prediction for 2022 Theoretically and statistically, its not possible to do so now. It is also working on an Ethereum Layer-2 solution, Shibarium, and a Shiba Inu Metaverse. Shiba Inu has one of the largest crypto communities. Since the beginning of the year, the value of Dogecoin has "only" increased by about 15%. It would be worth more than the entire cryptocurrency market today. An anonymous person or group created these coins with the name of Ryoshi. also, Fundamental analysis is a method for determining answers to questions such as Will Shiba Inu coin reach 50 cents?. It is not a scam, it just has no utility. If Shiba Inu aims to reach $0.5, it needs to execute an extreme burn of tokens and get to at least half of the current circulating supply, i.e., 275 trillion. Follow these beginner-friendly strategies for making huge profits and passive, Will Shiba Inu Coin Reach 50 Cents in 2023? The token was developed as an "experiment in decentralized spontaneous community building," according to its whitepaper. Making the world smarter, happier, and richer. At the time, a $100 investment netted a huge . Read This. The burn rate should sustain at the current rate and many of Shiba Inus initiatives will have to be completed as planned. There has been an increase of 814. Still, this cryptocurrency may be days away from its biggest moment ever. Read This, Exploring Successful Strategies For Investments And Savings, Create An Everlasting Impression With Quirky Marketing, 10 Most Expensive Vehicles You Can Buy Today, New Subsidy On US Chip Will Pose A Global Threat To Economy, BRICS Appeals To More Countries As Algeria Signals To Join This Group, Pakistan Imports Slash Down Sharply To Stabilize Rupee. However, with the crypto market kicking 2023 off on a bullish note, weve seen some renewed interest in crypto assets, including meme coins. This is a Layer 2 solution that could solve some of Shiba Inu's problems. With the current price of Shiba Inu being $0.000009 with a trading volume of $274 Trillion, almost half of its coins need to be burned to increase its price to 50 cents and more. Many people bought Shiba Inu coins hoping for high returns, but they may not realize the markets volatility. Further, the regulatory environment should be favorable and not restrictive. Let's find out. And while SHIB might've been able to gain 1,993,575% in recent months, it still has a ways to go to catch Dogecoin - even if the anonymous creator intended it to be a "Dogecoin killer.". Let me explain why. 0 coins. Therefore, it is essential to research any crypto-currency before deciding to invest in it. 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