The Shiba Inu coin was created back in 2020 by an anonymous Ryoshi. Initially, it positioned itself as a “Dogecoin killer” even choosing the appropriate logo – a Shiba Inu dog, making a direct reference to Dogecoin. The coin was generally conceived as a project that was supposed to compete with DOGE.
But the token in question unexpectedly received a response from the audience and became the second most popular meme currency, though the crypt formally has nothing innovative, because all earnings occur using pump and dump schemes. The central distinguishing feature of the Shiba Inu coin system, the developers called compliance with the following rules in the technology:
- the ability to spend exactly 0 USD on any project;
- the right to buy tokens after the official launch on the market;
- the absence of any material contributions to the promotion.
Let’s talk about its future prospects and predictions and whether it will reach 10$. As Buidlbee states, the SHIB has to increase its cost by 18 million percent to achieve a $10 asset value by the end of this century. But let’s see in detail.
In 2022, the Shiba Inu coin is declining with the rest of the crypto industry. From January to May, it lost almost half of its value. This is happening despite the good news. The opportunity to buy SHIB appeared on Robinhood. The app is well-known for its cautious approach to coin listing. Shiba Inu’s support should mean a lot, but the price keeps falling.
In March 2022, the cryptocurrency announced a partnership with the Italian fast food chain Welly’s. She will rebrand, and the dog with the SHIB logo will become the mascot of the network. So far, the network operates only in Naples, but with the help of Shiba Inu, it should enter the global market. On this occasion, the developers submitted the idea to create a blockchain-based technology for tracking the logistics of food delivered.
Is there a future for Shiba Inu
Shiba Inu is at an early stage of development, and the team has not yet launched its DEX and NFT. Its future will also depend on the activity of the crypto markets in general. Since new coins are created regularly, a competitor may appear that will attract the interest of prospective investors.
Will the SHIB coin grow
According to projections, in the next few years, the cost of SHIB will rebound and increase to new historical highs, especially if the crypto markets grow in the long term. Shiba is a market follower. According to experts, a new powerful wave of growth will occur only after bitcoin has closed the gap at $ 40.8 thousand. Only then should the possibility of purchasing SHIBA be considered. This is a hype coin that is constantly falling and rising in value in comparison to the most important large coins. Only if bitcoin reaches $60-65.000 again will it be able to surpass the historical high.
Shiba price forecast: where it will go next
The Shiba Inu price forecast from the Wallet Investor algorithmic service predicts that it will reach $0.000023 in 2022 and will more than double to $0.000054 by 2025.
The forecast from Digitalcoin suggests that in the longer term, the average cost of SHIB will be $0.00002599 in 2025 and $0.00003911 in 2028.
Based on Coinpedia’s forecast, the cost of SHIB will rise to $0.0000223 in 2022. Further, by 2025, the coin will reach $0.00003106, and in the coming years, it will trade at $0.0000386.
The prediction from Gaz Capital implies that the cost will rise to $0.000014 in 2022 and $0.000045 by 2025.
CoinArbitrageBot anticipates a valuation increase from $0.000012 in 2021 to $0.00005 in 2024.
Will Shiba Inu reach 10$
A large number of SHIB tokens in circulation limits the level to which the cost can rise with a realistic market capitalization. Although there are possibilities for price growth, it is unlikely to reach even $ 0.01 in the next few years.
How good an investment is the Shiba Inu coin
When dealing with volatile assets such as cryptocurrencies, it is important to conduct a thorough study that will help you decide whether they are suitable for your investment portfolio. How good an investment Shiba Inu is based on your risk tolerance and how much money you have available to invest.
As usual, you should remember that past activity is not a guarantee of profit in the future, and in no case should you invest more than the amount that you are not afraid to lose.