I know you will agree with me on this- Shiba Inu (SHIB) is a peculiar name allotted to a cryptocurrency.
It is based on the mascot animal, a Japanese dog breed named Shiba Inu.
While 2021 had been a roller coaster ride for cryptocurrencies, the Shiba Inu coin saw its best performance last year.
The Shiba Inu coin has caught the limelight for various reasons, though its current value is yet to rise.
Still, this coin is proving itself an excellent choice for young investors.
So, what’s so unique about this doggy coin which makes people go crazy about its price and performance?
Let’s find out!
Origin of the Dogecoin Killer: SHIB
Yes, we call it the Dogecoin Killer as it stole the limelight the Dogecoin gained from Elon Musk’s tweet in 2021.
People dumped DOGE when they discovered a similar meme coin in town – Shiba Inu.
So, where did the meme coin come from, and what’s its story?
A secure and totally decentralized meme token, this Shiba Inu coin was first produced as an alternative to the ERC-20 token on the Ethereum network.
The coin works with all the significant traits of Ethereum, Bitcoin, and Dogecoin under a single name – SHIB.
It was anonymously created in August 2020 by a mysterious person named Ryoshi.
Quite similar to the origin story of Bitcoin by Satoshi Nakamoto, Shiba Inu’s creator is still a mystery to the crypto world.
We know that Ryoshi could be a group of people supporting the coin’s economy – not just a single person!
- Shiba Inu is a meme coin which gained popularity due to the famous meme dog being its mascot animal.
- It is a low-priced NFT built upon the Ethereum network.
- It was created as a community-building token as an experiment to rival the Dogecoin ecosystem.
- Owing to its association with the meme dog, this coin quickly gained popularity among young investors shortly after Elon Musk tweeted.
SHIB: A Corporate Initiative
Modern concerns like better accessibility, speed of transactions, cyber security and anonymity of users, independence of trading decisions, and value for money invested – all of these are covered mainly by the current crypto assets.
Even young and inexperienced investors who have entered the crypto market to explore their risk appetite can also start trading effectively in such an ecosystem.
Shiba Inu can be used to trade or exchange between stable coins like Bitcoin and Ethereum against fiat money, making it one of the biggest benefits of the meme token.
Furthermore, this token has other security features to explore too.
Owing to its fully decentralized ecosystem, Shiba Inu gives its users the benefit of managing their crypto wallets independently and refilling funds when required in a permissionless manner.
Shiba Inu is the first initiative of the ShibaSwap DEX and is still their native funding token currently.
Apart from that, traders can invest or exchange SHIB with almost any other coin.
Places to buy SHIB:
- Shiba Inu can be bought with real money on Coinbase, Binance, Crypto.com, Atomic Wallet, and KuCoin.
- Shiba Inu can be exchanged for Ethereum through Trust Wallet on the Uniswap network.
Shiba Inu Price History Analysis
Ever since the meme token debuted in the crypto market, it never saw extreme ups and downs in its price trends until October of 2021.
On October 28, 2021, the SHIB token saw its all-time high market price.
The bull market trends had a strong hand and supported the Shiba Inu community to its best by further pushing the price range for a week.
But after that week, profit-making sentiments got the best of the coin value.
As a result, people saw that Shiba Inu is as vulnerable to market swings as any other cryptocurrency, especially those which are not stable coins.
Shiba Inu Coin Price Prediction 2030
Shiba Inu coin price prediction 2030 is very close to the $1 target, yet not there. Based on its past performance in the market, by 2030, Shiba is set to increase by 86,330% of its current value.
However, this remains more of a pessimistic scenario than an optimistic one.
The reason is its immense volatility in prices, not only due to market trend swings but also to investor sentiments.
If the current downturn of the coin is overcome, it will see a huge rise in its overall market value in the coming decades.
Shiba Inu Price Prediction 2040
It is highly possible that before 2040, the Shiba Inu team will have burnt half of their token supply.
As per our Shiba Inu coin price prediction 2040, the token price will finally hit the $1 mark this year.
By 2040, an average price of $2.76 can be expected, depending on market trends.
While the minimum price level can be around $1.13, our maximum price prediction remains $4.15 in 2040.
If the market gets bullish, the SHIB might soar even more before the end of 2040.
Shiba Inu Price Prediction 2050
The year 2050 is said to be the most profitable year for crypto adaptation throughout the world.
Many governments would likely accept crypto as an important part of their national finance, and therefore, the market prices will see a breakthrough.
Similarly, Shiba Inu coin price prediction 2050 shows some encouraging numbers.
Before the year 2050 ends, the coin value can reach an average price of $7.89, while the minimum price can be around $5.42. The maximum price can rise to $9.61.
Based on the above predictions, it would be a wise decision to hold your Shiba till the year 2050 for the best results. Read more cryptocurrency News.
Price Prediction Overview
|Year||Minimum Price||Average Price||Maximum Price|
The Shiba Inu bull trends have seen a plummeting value in the current bearish market of 2022.
Investors are losing patience while holding on to the SHIB token as the losses have been piling up since the fourth quarter of 2021.
If the market sustains through this tough time, the Shiba Inu coin can show marvelous performance in the upcoming years.
So, hold on to your Shiba and look at the bigger picture!