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Digital currencies began in 2008 with the invention of bitcoin — money that could be created, traded and tracked on the internet.
Since then, cryptocurrencies have multiplied. Some have been designed to beat bitcoin in ease of use, cost and speed. Others serve as tokens for new versions of the blockchain, a method of secure online tracking and bookkeeping that makes cryptocurrency possible.
Other new crypto coins were created just for fun. Shiba inu is that kind of coin.Is this unique cryptocurrency a good investment? Here are experts’ shiba inu coin price predictions to help you decide.
Furry Finance: How Shiba Inu Was Created
Named for an adorable Japanese canine, the shiba inu cryptocurrency was born as a mockery of dogecoin, which was designed to imitate bitcoin. When entrepreneur Elon Musk used Twitter to promote dogecoin, its value skyrocketed. Then an anonymous individual or group going by the name Ryoshi arrived in August 2020 with shiba inu, the “dogecoin killer.”
Both dogecoin and shiba inu are “meme coins” designed to represent hot trends or ideas more than for utility. Shiba inu followed dogecoin into the spotlight in late 2021, when Musk tweeted out a few pictures of Floki, his real Shiba Inu. With nearly 70 million followers, Musk’s tweets made heavy waves in the financial and cryptocurrency markets.
Shiba Inu Begins Spreading Like Wildfire
Cryptocurrency is measured by total market value and price. These metrics can and do swing wildly from day to day, depending on the fleeting enthusiasm of traders. Nothing backs cryptocurrency except its prospective value as a store of value or medium of exchange.
Since such value depends on marketing and technical innovation, and new digital money is constantly being created, dabbling investors are taking on significant risk.
A Good Year in 2021
The numbers climbed steadily for shiba inu through 2021. The metrics peaked in October of that year when the price of a shiba inu coin reached $0.0000845 — a rise of 1,000% over the previous 25 days. For the year, the coin jumped an unbelievable 43.8 million percent.
For a brief period, shiba inu had a larger market valuation than dogecoin and had reached the top 10 of all cryptocurrencies in total market capitalization.
New Use Cases
Traders successfully petitioned for Robinhood, a popular mobile trading platform, to make the coin available to buyers and sellers, and it’s also available on Kraken, Coinbase Exchange and many other exchanges, in most cases as part of a trading pair — rather than buy shiba inu directly, you buy the cryptocurrency it’s paired with and then trade that currency for shiba inu.
Also, a series of 10,000 Shiboshis — graphic designs representing the now-famous breed — came on the market. These non-fungible tokens are further spreading the coin’s popularity. But to be successful for investors, a coin has to be more than a novelty.
Use cases for the shib coin are slowly popping up. For example, Shopping.io supports it, so holders can, in a somewhat roundabout way, use the coin to make purchases from Amazon, eBay and Walmart. Newegg began accepting shiba inu before the holidays last year. In addition, shib is now the native token for the new Shiba metaverse, where users can use the coins to mint land.
That metaverse might be expanding. Shiba inu has partnered with The Third Floor, a visualization company that collaborates with Marvel, to create environments and landmarks in the Shiba metaverse, FXStreet reported. Time will tell whether shiba inu projects — especially its metaverse — will pan out.
Going to the Dogs
Shiba inu has fallen off the highs it made in October 2021 to$0.00000853 on Jan. 5, 2023 — a nearly 90% drop. If the coin hype fades, it may never return to those levels. The general decline in the cryptocurrency market, including leading coins bitcoin and ethereum, is also chilling the price for shib.
Does the Shiba Inu Coin Have a Future?
Does shiba inu have a future? Several websites in the business of predicting cryptocurrency prices are optimistic. However, short significant use cases, shiba inu’s primary value is in its level of hype. That leaves analysts scrambling to predict what investor sentiment might be down the road — a notoriously difficult task.
How Much Will Shiba Be in 2023?
Coin Price Forecast believes shib could increase by 34% by the end of 2023, to $0.00001143. Coin Gape predicts a 26.5% increase to $0.0000105. Wallet Investor’s trend line is flat for the next year.
Gov Capital predicts a price somewhere between $0.000029 and $3.34 by Dec. 31. Those figures differ by a factor of 115,172, which underscores the difficulty of accurately predicting cryptocurrency prices.
What Will Shiba Cost in 2025?
What will shiba inu be worth in 2025? With the high uncertainty and volatility of the crypto market, it can be hard to make long-term predictions for any currency, so predictions should be taken with a grain of salt. However, some analysts are more optimistic about the future. Coin Price Forecast predicted that shiba inu will trade at $0.00001443 by the end of 2025.
How Much Will Shiba Inu Cost in 2030?
What will shiba inu be worth in 2030? If investor interest and use cases for the cryptocurrency continue to increase, it is possible for the token to grow in price significantly by 2030. Coin Price Forecast gives a 2030 shiba inu coin price prediction of $0.00002849.
Final Take: Should You Invest?
These predictions forecast a slight return this year and a more significant one over the next several years.
But cryptocurrency, particularly meme currency, is subject to financially destructive trends for unwary investors. Aside from their highly speculative nature, there are fees and costs charged when trading digital currencies, and many investors have ended up with nothing.
It’s fun to predict markets and fascinating to consider the possibilities of digital currency — especially one so inexpensive that you can buy well over half a million coins for $5. But the wise move would be to thoroughly research shiba inu before throwing any money at it, and never invest what you can’t afford to lose.
FAQ
- Will shiba inu coin reach $1?
- According to Nasdaq, a price of $1 would be impossible. There are so many shiba inu coins in circulation that a price of $1 would mean a market cap several times higher than the world economy.
- Will shiba inu reach 50 cents?
- The world's total economic output, known as the global gross domestic product, is estimated to reach $116 trillion by 2025. A price of 50 cents would put shiba inu's market cap at $275 trillion. Unless shiba inu were to replace every currency in the world, and the economy grew exponentially faster than predicted, a 50-cent price is highly unlikely.
- Will shiba inu reach 1 cent?
- While one cent is closer to feasibility than $1, it would still be an incredibly unlikely level of growth. At one cent, the coin's market cap would be $5.5 trillion. This would mean the coin was worth more than the current year's budget of the U.S. government.
Chris Ozarowski and Daria Uhlig contributed to the reporting for this article.
Information is accurate as of Jan. 5, 2023.
Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.
- CoinMarketCap. "Shiba Inu."
- CoinGape. 2022. "Shiba Inu Coin Price Prediction 2022 : Will SHIB be the next Luna ?"
- Wallet Investor. 2022. "SHIBA INU Price Prediction and Forecast Data for 2022."
- CoinPriceForecast. 2022. "Shiba Inu Price Prediction 2022 - 2025 - 2030."
- FXStreet. 2022. "Where is Shiba Inu price headed after partnership with Marvel’s long-term collaborator."
- Gov Capital. "Shiba Inu / USD Forecast, SHIB price prediction: Buy or sell Shiba Inu?"
- Analytics Insight. 2022. "SHIBA INU PRICE PREDICTION 2022 AND 2030."
- Nasdaq. 2021. "Could Shiba Inu Coin Reach $1 by 2025?"
- Fiscal Data. "How much has the U.S. government spent this year?"
