Shiba Inu is one of the most popular alternative meme coins on the market, and it’s been gaining a lot of traction recently (SHIB). But, more significantly, what has happened to this coin recently, and what will happen to it? Is it possible to forecast the price of Shiba Inu coins? Let’s look at what’s being stated regarding SHIB’s future and the price of the Shiba Inu coin and then finally come to the conclusion whether Is Shiba Inu Coin a Good Investment.
A Quick & Short Answer: Is Shiba Inu Coin a Good Investment?
Possibly. Its recent resurgence may prove that it isn’t as much a joke/meme coin as some believed. On the other hand, it’s possible that it won’t. It may never be.
It’s important to understand that cryptocurrencies, especially meme coins, are quite volatile; values can go up as well as down. So do your research and keep in mind that your decision to trade is based on your risk tolerance, market expertise, the spread of your investment portfolio, and how comfortable you are with losing money. Never put more money into something than you can afford to lose.
Let’s get a little further into Shiba Inu right now! On cryptocurrencysimple.com, you are reading this content.
Table of Contents
What exactly do you know about Shiba Inu Coin?
Shiba Inu is an ERC-20 token made on Ethereum by an unknown person named Ryoshi. Shiba Inu’s coin official website says that the coin is a decentralized meme token that is becoming part of a lively ecosystem becoming more popular.
“SHIB is an experiment in community-building that doesn’t have to be planned ahead of time. First up, we have the SHIB token, which lets people own billions or even billions of them. Known as the DOGECOIN KILLER, this ERC-20 ONLY token can stay well under a penny and still outpace Dogecoin in a short amount of time.”
The token’s white paper says that the goal is to build an ecosystem with three tokens that have different supplies.
So far, there is one quadrillion SHIBs in the ecosystem, and they can’t be made anymore. Tokens LEASH and BONE were the second and third to be made. LEASH has a supply of 107,650 tokens, and BONE has a supply of 250,000,000 tokens.
Users can “dig” (provide liquidity), “bury” (stake coins), “fetch” (retrieve tokens from ShibaSwap or SushiSwap), and “trade” coins on the ShibaSwap exchange, which isn’t run by the team that makes the tokens.
Like other exchanges on the Ethereum network, SushiSwap and Uniswap, this one lets you buy and sell Ethereum.
I will later explain to you all what exactly and how does LEASH, BONE, and BURY Tokens are helpful.
Quick facts on Shiba Inu Coin
- On the Ethereum network, Shiba Inu is an ERC-20 altcoin.
- The coin was produced by an unknown individual known only as Ryoshi, also known as the “Dogecoin Killer.”
- With a maximum supply of one quadrillion tokens, about 400 trillion SHIB tokens are in circulation.
- Shiba Inu’s designers have established an ecosystem consisting of three coins: SHIB, LEASH, and BONE, as well as ShibaSwap, a decentralized exchange.
- Ryoshi gave Vitalik Buterin, the Ethereum founder, half of the token’s supply.
- Early in May, Buterin donated and burnt all of his assets, causing the price to plummet.
- After Buterin donated, the SHIB white paper changed to say that they were good for the coin and that Buterin is a “friend of SHIB.”
- Some SHIB investors were told to think that Buterin was one of the project’s backers.
Shiba Inu’s advantages in today’s market include:
1) Cryptocurrency meme brand with a lot of value
There are around 13,000 cryptocurrencies in use now, with new ones appearing every week. Few of these cryptocurrencies have significant technological advantages over Bitcoin, Ethereum, or other popular cryptocurrencies. Effective branding is necessary to stand out from the sea of cryptocurrencies. Shiba Inu has adopted Dogecoin’s successful meme-friendly branding strategy. Shiba Inu has been trending on social media during its incredible run, and its brand has spread like wildfire. Shiba Inu may flourish or perish in the long run primarily based on its brand, as it lacks a strong technological edge at this time.
2) Robinhood trading possibilities
Shiba Inu has a fervent online following, and the community has been lobbying popular trading software Robinhood to add the cryptocurrency to its limited list of tradeable crypto coins. More than 400,000 people have signed a Change.org petition urging Robinhood to support Shiba Inu. Robinhood hasn’t said anything about Shiba Inu, but it did claim $30 million in income from Dogecoin trading in the first quarter of 2021 after adding the cryptocurrency to its platform. If the cryptocurrency’s popularity grows, the financial temptation for Robinhood to add Shiba Inu trading may become too great to ignore.
3) Intro to ShibaSwap
The Shibaswap decentralized exchange is one way Shiba Inu developers aim to grow their community and brand. Decentralized exchanges are peer-to-peer platforms that enable users to trade cryptocurrencies without the involvement of a middleman. The Shiba ecosystem consists of three cryptos. Shiba Inu is one of them. Users of Shibaswap may also stake their Crypto for a return comparable to interest on a savings account. In addition, Shibaswap users may also keep track of their earnings in their “bonefolio” and exchange over 10,000 nonfungible tokens with a variety of features and rarities. Hold on, we will slowly come to the point on ( Shiba Inu Coin A Good Investment ), & I will discuss all aspects you should know about Shiba inu.
Shiba Inu’s disadvantages included:
1) Extreme turbulence
Investors are ecstatic when a stock skyrockets by this much in less than a year. Volatility, unfortunately, swings in both directions. The possibility for the Crypto’s price to plummet as dramatically as it rose may be part of the pleasure for investors searching for an adrenaline rush or a gambler’s high while trading Shiba Inu. According to Coinbase, the average holding duration for Shiba Inu investors is only 13 days. So, if market speculators and momentum traders all depart the ship simultaneously, a reversal may swiftly snowball, crushing long-term investors.
2) Musk does Doesn’t own it.
Shiba Inu is one of many dog-themed cryptocurrencies based on the original doge joke. Elon Musk, the CEO of Tesla, has been a vocal backer of Dogecoin, and he even adopted a Shiba Inu dog named Floki earlier this year. The price of Shiba Inu soared in October when Musk tweeted a photo of the puppy on Twitter. Still, Musk recently disappointed Shiba Inu fans by revealing that the only cryptos he owns are Bitcoin, Ethereum, and Dogecoin. Musk’s Dogecoin endorsement may be bad news for Shiba Inu investors aiming for the top dog in meme cryptocurrency land.
3) Inapplicability in the actual world
Unlike Bitcoin and Ethereum, Shiba Inu offers little appeal to investors outside of a cryptocurrency market. According to some source, just roughly 100 global retailers accept Shiba Inu as payment. Those sellers are mostly cryptocurrency-related firms that aren’t well-known. Shiba Inu’s fees, transaction speed, or structure aren’t distinguishable enough to make it more useful or practical than hundreds or thousands of other Crypto. Michael Burry recently termed Shiba Inu ” pointless ” the famed “The Big Short” investor, Michael Burry, recently termed Shiba Inu “pointless.” Burry takes issue with Shiba Inu’s one quadrillion coin supply, claiming that the large supply restricts future price appreciation.
Is Shiba Inu Coin a good Investment in 2022?
The whitepaper, or different versions of the whitepaper as it has changed since the coin’s launch, is one of the most important parts of its authenticity. For example, when Ryoshi made Shiba Inu, he gave Vitalik Buterin, who made Ethereum, half of the money that was made.
Ryoshi is quoted in the whitepaper as saying, “We sent Vitalik half of the complete quantity. There is no grandeur without a weak spot, and SHIBA will flourish and live as long as VB (Vitalik Buterin) does not destroy us.”
Buterin handed out 50 trillion SHIB, worth $1 billion at the time, to charity on May 12th and then burnt 90% of the remaining coins he possessed. He also stated that he would contribute the remaining 10% to another good organization.
Buterin Also included a disclaimer in his transaction, stating that anybody creating new coins should never transfer coins without his permission.
The announcement that Buterin was giving away all of his tokens caused the price of SHIB to plummet. The community thought Buterin was either purposefully involved or involved merely because he held so much of the token.
The white paper was updated with a new section headed “Vitalik Buterin, Friend of SHIB.” The first sentence of this section describes Ryoshi as a visionary and Buterin as a visionary. Unfortunately, after that, it misspells Ethereum as Etherium.
“Vitalik Buterin, like Shib’s inventor Ryoshi, is a visionary. VB, one of the world’s youngest billionaires, is a 27-year-old developer of Etherium and, until recently, possessed half of the total supply of SHIB.”
The fact that the author gave Bitcoin to Buterin in the first place is the biggest red flag. It’s nearly hard to determine the creator’s true intention, although it appears to be a marketing ploy. In addition, there were several posts in the Shib Reddit forum regarding Buterin owning the token and being an investor, which elevated people’s expectations even further.
To invest in this cryptocurrency, like with most others, some element of speculation is necessary. While SHIB has received a lot of attention in the previous year due to meme culture, it isn’t easy to attach value from an investing standpoint.
The main worries with SHIB stem from its creator’s conduct. Sending half the supply to Buterin and then modifying the whitepaper after the donations and burn appears deceptive. Calling Buterin a “friend of SHIB” is likewise a stretch, if not completely incorrect.
Furthermore, while SHIB has its ecosystem with a decentralized exchange, it is uncertain how secure it is to utilize compared to others, such as Uniswap, that have undergone substantially more audits. Acquiring SHIB is equivalent to purchasing one of the 1,000+ cryptocurrency lottery tickets available.
Now you tell me forks! What do you think of Shiba Inu Coin A Good Investment or not? Share your views in the comment section.
Future of Shiba Inu Coin in next ten years
When it comes to the future of the Shiba Inu coin & Shiba Inu Coin A Good Investment, WalletInvestor forecasts a price of $0.000048 by the end of the year. Furthermore, it predicts a Shiba Inu price prediction 2025 of $0.000226 by the end of December that year, with a range of $0.000088 by November 2022.
Meanwhile, Gov. capital predicts that it will hit $0.000128 in November 2022 and hover at $0.000119 in early 2023. Then, according to the website, it might reach $0.000247 in November 2023 and $0.000418 in November 2024. Its Shiba Inu price forecast for 2025 forecasts that it will touch $0.000643 in November of that year and $0.000920 in November of 2026.
Finally, Experts predict that it will hit $0.0000569859 before the end of the year and $0.0000712618 by November 2022. Prices of $0.0001061594 in November 2025, $0.0001426004 in November 2026, and $0.0001883562 in November 2028 are also suggested. Given the coin’s significant volatility, Shiba Inu’s price predictions for 2030 are rare and incorrect. But hey, Don’t just come to the conclusion after reading these potential targets, stick to the fundamentals and then decide Is Shiba Inu Coin A Good Investment or not.
Frequently Asked Questions on Shiba Inu
1) Is it possible for the Shiba Inu coin to achieve $1?
It’s possible. However, it is unlikely to happen very soon, given the cheap cost. For starters, doing so would inject a large amount of money into the global economy, causing severe inflation.
Second, it isn’t built to reach those altitudes. The concept was that because of its very cheap value, it might beat competitors even if it didn’t cross the one-cent barrier. That isn’t a criticism of the coin; that is how it functions.
2) Where can I get Shiba in coins?
Kudos! I’ve previously written a comprehensive essay on (How to Buy Shiba Inu Coin), and I recommend reading it for a better understanding. By the way, you may get a Shiba Inu from a variety of reputable exchanges ( Recommend by us )
3) Is there a future for the Shiba coin? or Shiba Inu Coin A Good Investment?
Cryptocurrencies, particularly “meme coins” like Shiba Inu, are high-risk investments. SHIB’s future will be determined if it finds a useful application that leads to widespread adoption. The destiny of the coin will also be determined by activity on cryptocurrency exchanges.
That’s all for today’s article on ( Shiba Inu Coin A Good Investment or not? ). I hope you enjoyed reading this! There’s a lot more to come so be ready! Until then, See ya. Pushkar is singing off.