What is Shiba Inu (SHIB)
The name and logo of Shiba Inu refer to the Shiba Inu dog that appears on the DOGE logo. The coin runs on the Ethereum blockchain, with a total of 1 quadrillion SHIB tokens issued by the developers. One of the priorities of the creators of the coin was not to spend a single dollar on the project.
How long do shiba inu live
The “meme” cryptocurrency Shiba Inu (SHIB) was launched in August 2020 as a parody and competitor of another meme token – Dogecoin (DOGE).
SHIB token founder – who is?
The founder of SHIB token was an anonymous person who goes by the pseudonym of Ryoshi. According to one version, he may be the creator of Ethereum Vitalik Buterin. The thing is that the developers of the meme-cryptocurrency sent Buterin 505 trillion SHIB coins, most of which he burned (about 90%). If he had sold off those coins, the price of the token could have seen a dizzying drop.
In their woof paper, the developers state that the project is “a spontaneous experiment in the world of decentralized assets. At the moment, SHIB community already numbers over 120 thousand and calls itself the Shiba Inu army.
SHIB project has transformed from a meme into an entire ecosystem, which includes LEASH and BONE tokens, a decentralized ShibaSwap exchange and Shiba Incubator for NFT art creation.
The SHIB coin is ranked 15th among the largest cryptocurrencies in the world by market capitalization. The capitalization of Shiba Inu at the moment of writing this article was more than $6.740 billion. Nevertheless, many experts consider SHIB a speculative coin that is secured only by its community and enjoys popularity due to the haip created around it.
The value of Shiba Inu is changing at an incredible rate. On October 28, 2021, SHIB cryptocurrency reached a price high of $0.00008616. Since then, it has fallen in price by 85.7%. In the last month alone, the coin has lost 50.3% of its price. At the time of writing, it was trading at $0.00001203, with the token’s price down 5.5% over the day.
Shiba inu price history
The Shiba token caught investors’ attention on May 11, 2021, when it soared 2,260% in one week to reach its first high of $0.000036. SHIB’s meteoric rise occurred as the coin was added to the OKX, Binance, FTX and Huobi crypto exchanges.
After that, the price of Shiba Inu rolled back. In the summer of 2021, the coin was trading in the $0.000006-$0.000008 range. By October 28, the token price had risen to its high of $0.00008616. This was caused by rumors of a possible listing of the SHIB coin on the Robinhood exchange, which eventually took place in April 2022. The rise in SHIB’s price is also partly attributed to the October 4 tweet by Ilon Musk of a photo of his siba-inu puppy in a Tesla car. SHIB bounced back to $0.000036 by November 26 and recovered to $0.000054 by November 30. This rise is due to the fact that Shiba Inu listed on the Kraken cryptocurrency exchange on November 29. Moreover, online retailer Newegg announced that it is starting to accept SHIB as payment.
However, in light of the bearish sentiment in the crypto market, SHIB has lost ground.
On February 24, 2022, the day the conflict between Russia and Ukraine began, it was worth $0.000025. SHIB rate rose slightly in April, but then showed a gradual decline until today.
Cryptocurrency SHIB: forecast
What will be the future of Shiba Inu? Will the price recover? Will the coin be able to reach the $0.001 mark?
Forecast of cryptocurrency Shiba Inu from forecasting service Wallet Investor as of May 18 looks quite optimistic. According to it, SHIB altcoin expects long-term growth, and investing in it today is profitable. In 5 years, in mid-May 2027, the token will reach a value of $0.000121, the service predicts.
Digital Coin predicts that the average price of the SHIB/USD pair will be $0.0000171 in 2022, $0.0000244 in 2025, and $0.0000564 in 2030.
Gov Capital’s long-term SHIB price forecast indicates that the token could reach $0.0004034 by May 18, 2025, and $0.000876 in May 2027.
Shiba Inu’s 2022 forecast from CoinPriceForecast suggests the altcoin will be priced at $0.00002232 by the end of the year. The service expects the coin to grow by +83% from May 18 through the end of 2022.
None of the forecasts imply the growth of SHIB to $0.01.
Keep in mind that cryptocurrency markets are highly volatile, which makes it difficult to predict a coin’s price even within a few hours, let alone long-term forecasts. Consequently, research by analysts and algorithmic services can be inaccurate.