Shiba Inu (SHIB) is an Ethereum-based ERC-20 token called “an experiment in decentralized spontaneous community building” by its founder known as Ryoshi. Launched as a meme token in 2020, it became the biggest hype in the spring of 2021. Such popularity has been caused in part by the growing awareness about the existence of the meme coins (SHIB is dubbed “Dogecoin killer”) and in large part by Elon Musk’s tweets. Its team is also inspired by the WallStreetBets subreddit going up against the Wall Street giants as an example of the decentralized collective effort. SHIB’s principles are: building something from zero, forging a community without preexisting connections, and, of course, the love of Shiba Inu dogs.
SHIB is a part of the growing ecosystem being developed by the same team. At the moment of writing, LEASH token has been issued within the same ecosystem and BONE token is coming soon (and more tokens are in the works); the team is also preparing to launch a decentralized exchange called ShibaSwap where those tokens will be listed. Another known project is the Shiba Artist Incubator, which encourages artists in the community to create NFTs. There are also other far-reaching plans, such as building SHIB’s own level 2 blockchain Shibarium , which in the long run should help with potential scalability issues and all may influence Shiba Inu’s price in the future.
Despite Shiba Inu coin has gained its moment in the spotlight in the first half of May 2021, for now it is falling off the same dip with the whole crypto sphere and continues following the Bitcoin bearish pattern. For June 2021, SHIB price remains to fluctuate marginally between $0.00000500–0.00000800. However, Dogecoin’s success grants Shiba a chance for future pumps and an advantage of sympathy trading, and Shiba’s market is still relatively small, thus promising for growth.
Despite the fact that 100% accurate technical analysis for SHIBA INU cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated SHIB buy-and-sell rating for selected timeframe. The summary for SHIB/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Below we have collected the most reliable price projections for SHIBA INU (SHIB) from popular forecast platforms.
According to WalletInvestor, SHIBA INU price will grow from $0.00000796 to $0.000019 in one year. That makes SHIB a awesome investment. The long-term earning potential is 138.69%. Predicted price for the end of 2026 is $0.000061.
Answering the question about if Shiba Inu is a good investment, TradingBeasts say resounding yes. In the 2021 perspective, this coin price is predicted to reach $0.0000130 with a growth to $0.0000184 by the end of 2022.
In DigitalCoin analysis, the price of SHIBA INU cryptocurrency will rise in the next 5 years starting from $0 as of today’s price to $0. It will go up to $0 by 2022 and continue its growth in 2023–2024. Based on the forecast, SHIBA INU is profitable long-term investment.
As it can be clear from the analysis cited above, SHIBA INU (SHIB) projections are rather contradictory. There is no universal consensus either about positive or negative future SHIB price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the SHIBA INU projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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