In the last few weeks, it seems that all crypto investors are talking about the Shiba Inu token (SHIBA) while the financial media are writing about it a lot. What is known about this cryptocurrency, and why is it called ‘the Dogecoin killer‘? In this article, we try to depict fully the current position of the new cryptocurrency on the market and what the future holds for it.
What Is the Shiba Inu Coin?
The SHIB cryptocurrency is a token of the Shiba Inu ecosystem, which from the very beginning received the nickname ‘the Dogecoin killer’. In a few weeks of its existence, the SHIB price has risen by 27,000%, although its rate still does not reach even one-tenth of a cent. This is the first token to be listed on the ShibaSwap decentralized exchange after its launch.
At the end of summer 2020, SHIB was released on the Ethereum blockchain as an ERC-20 token. In total, 1 quadrillion coins were created. Half of them were transferred to the Uniswap DEX, and the keys were destroyed. The second half of the coins was transferred to the founder of Ethereum, Vitalik Buterin. The creators of the project explain this as follows:
We were the first project to follow this path. Everyone should buy coins on the open market, ensuring a fair and complete distribution, in which developers do not own the tokens and cannot dump them into the community.
Vitalik Buterin burned 90% of the Shiba Inu tokens that were stored in his wallet by sending them to a non-existent address. In total, Butein destroyed 410 trillion tokens worth $6.5 billion. On May 13, Buterin donated $1 billion to fight COVID-19 in India. The developer transferred 500 ETH and more than 50 trillion Shiba Inu tokens worth about $1.14 billion to the India COVID-Crypto Relief fund at the time of the transaction. Buterin also promised to donate the remaining Shiba Inu tokens for charity, but for longer-term purposes.
The Shiba Inu project intends to become a full-fledged decentralized ecosystem. The main idea of the project is to give the community 100% rights to manage the protocol. The project is similar to Dogecoin and even parodies it, but the developers of Shiba Inu declare much more serious plans. At the moment, the entire Shiba Inu ecosystem is under development, which, according to the creators of the project, will include an asset exchange, an NFT marketplace and a decentralized exchange ShibaSwap.
Several leading cryptocurrency exchanges announced the listing of a new SHIB token. According to CoinMarketCap, SHIB hit its all-time high of $0.0000388 on May 10. This happened after the crypto exchange Binance added the option to trade SHIB. On the same day, SHIB’s market capitalization hit a record high of more than $13.5 billion. However, it has weakened its position and, at the time of writing, is in 31st place with a market cap of $2.72 billion.
Now the token is trading on major exchanges: Binance, Coinbase, FTX, OKEx, and even the Indian equivalent of Binance – WazirX.
It is necessary to mention that our team behind the Changelly and Changelly PRO platforms strives to keep our users up to date on the latest crypto projects. That is why you can seamlessly exchange SHIBA token to over 200 cryptocurrencies that are currently available on instant crypto exchange Changelly. Another great news is that you can also trade SHIB to BTC on our full-featured cryptocurrency exchange Changelly PRO.
Shiba Inu Price Prediction in July 2021
Since its creation (July 31, 2020, according to CoinMarketCap), SHIB has shown considerable growth in a short period of time. The coin might reach 0.000011 in August 2021.
The graph below shows the Shiba Inu price dynamics in BTC, USD since the creation of the ‘Dogecoin killer’.
Shiba Inu Price Prediction August 2021
The WalletInvestor’s experts consider Shiba Inu to be a profitable investment. According to their calculations, the coin has the potential to rise to $0.000019 in 1 year.
Shiba Inu Price Prediction by the End of 2021
The analysts believe the price of Shiba Inu will increase in the coming years. It is predicted that by the end of 2021, the price may rise and reach $0.00002023, which is twice the current price.
Will Shiba Inu Reach 1 Dollar?
‘If the Shiba Inu token maintains its current level of growth, it will be able to reach a value of $1 by the end of 2021. But a more realistic forecast suggests that if it grows at a rate of 20% per month, it will take about five years to reach $1, which indicates a deadline of no earlier than 2025.’ reports the Market Realist portal.
Shiba Inu Price Prediction in 2022
After the surge that will probably occur in 2021, it is expected that the price of Shiba tokens might continue to grow in 2022. By the end of 2022, it could reach $0.00002230.
Shiba Inu Price Prediction for 2025
Experts of the Market Realist portal are confident in the continuous growth of the token. The projected growth will be more than 12,000,000% (yes, you see the correct number of zeros) by 2024-2025.
Shiba Inu Price Prediction after 5 Years
Prices are also projected to rise in the coming years. It is assumed that by the end of 2025, the price can reach $0.00003106 and will continue to grow. It could hit $0.00003860 in five years.
Shiba Inu Price Prediction for 2030
Many cryptocurrency analysts do not make long-term forecasts. There are many unpredictable factors that can affect the cryptocurrency exchange rate in the long term. Anyway, it is possible to make some predictions according to the current data. Thanks to the historical analysis of the exchange rate, the experts assume that in January 2030 the price of the Shiba coin could reach $0.00004.
Is Shiba Inu Coin Worth Buying?
Yes, according to forecasts, investing in Shiba tokens might be a good idea. The long-term profit potential is about +102.32% per year.
Is Shiba Inu Coin Real?
There are no doubts that the Shiba Inu coin is real and can be traded. If you want to get SHIBA, the best place to get it is an instant cryptocurrency exchange Changelly, which allows you to swap SHIBA to a wide range of 200+ cryptocurrencies. In case of any questions, do not hesitate to contact our Support Center!
The post Shiba Inu Coin Price Analysis and Forecast appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.
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