Understanding the Dogecoin Killer: Shiba Inu (SHIB)

A peculiar name: at least for a digital coin, you agree. Yes! For all good reasons, as the unique features are coupled with this unique name. The salient name relates to the mascot of a Japanese dog breed called Shiba Inu and hence “SHIB.”

So, the most important trait of the pet, “Loyalty,” comes tagged to it for all its investors too. Shiba Inu is a completely secure and decentralized meme token, a variant of the ERC-20 token. In a way, it combines all significant traits of Ethereum, Bitcoin, and Dogecoin in a fusion as one in Shiba Inu (SHIB). Before starting with the Shiba Inu price prediction, let’s check the coin overview.

Shiba Inu Overview

Cryptocurrency Shiba Inu
Ticker Symbol SHIB
Price $0.0000126
Price Change 24 hours +14.62%
Price Change 7d -4.57%
Market Cap $6,743,082,050
Circulating Supply 549,063,278,876,302 SHIB
Trading Volume  $549,621,953
All time High $0.00008845
All time Low $0.000000000082
Shiba Inu ROI +755268.92%

Shiba Inu Network: Let Us Dig Deeper

Shiba Inu is a creation by Ryoshi, who started on a mission to carve out a crypto asset for all its users inspired by the cute Shiba Inu dog breed theme, mixing the merits of other major cryptocurrencies like Bitcoin, Ethereum, Dogecoin, and others. The company is the first to be listed and incentivized on ShibaSwap, a proprietary decentralized exchange.

A crypto-asset addresses all concerns of an investor or trader in the market – be it accessibility, speed in the transaction, security for anonymity, or a great value for money invested for the future. With no great skills or expertise in demand, it can be accessed with your computer, smartphone, or website. It also addresses the users’ day-to-day needs like buying anything with credit cards, like in the supermarket, or purchasing anything through a wallet online.

An exemplary benefit of the Shiba Inu cryptocurrency is that it can be used to trade/exchange between and with Bitcoin or fiat currencies. Apart from these, there are immense security-packed features to be harvested too. Shiba token also gives its users the benefit of safekeeping their free wallets, and even they can refill their balance.

Traders benefit from getting the SHIB network on all esteemed cryptocurrency exchanges like Coinbase, Binance, etc. They can convert SHIB to almost any other coin. It also has a native decentral exchange name ShibaSwap to buy Shiba Inu.

The presence of SHIB can be seen on a mobile app that is available in a number of different languages, including Chinese, German, French, Spanish, Russian, and many more. The site comes packed with features like opening an account in three simple steps -Get a Wallet – Get some SHIB coins – Use Your SHIB, and stay tuned, giving all the latest news and information about the platform to make informed investment decisions.

You can also store your crypto SHIB on the mobile wallet. Shiba Inu’s open market purchase ensures the fair distribution of SHIB, and the open market also ensures the fair and complete distribution of new coins.

In late November 2021, Giant Newegg announced the acceptance of the Shiba Inu token as a mode of payment. The forecast impact on the Shiba Inu target price is considered to be positive. At the same time, Shiba Inu will no longer be limited to being a meme coin like Shiba Inu, following the announcement of its own metaverse, Shiba Inu Oshiverse. This token is expected to gain traction from investors.

Some posts on Twitter from CoinMarketCap reveal that the crypto investors in 2021 showed high interest in buying the Shiba Inu coin, making it the most viewed coin on the platform. The rising popularity can positively impact the Shiba Inu prediction, given the SHIB can reach a record high with the current market cap strategy. The market cap hit a new high the same day when SHIB launched its own line of NFT tokens.

Shiba Inu SHIB Community: A Corporate Initiative

Shiba Inu works a lot to benefit communities, creating partnerships and alliances at a non-profit level. The native token exchanges drive the whole process with other platforms generating more value for new enterprises and those corporate partners looking for momentum in their eco-space. This philanthropic contribution by SHIB comes as an aggressive community initiative, and it has called for more rigorous participation by other crypto developers too.

Shiba Inu (SHIB) Price History & Technical Analysis

Since its debut on the crypto exchanges, Shiba Inu’s price had only increased with no sudden surges or downward spirals until it hit its all-time high value on Oct 28, 2021. The bulls had a strong hand until the profit booking sentiments hit the SHIB market. Like any other cryptocurrency, the Shiba token is vulnerable to market fluctuations too and is highly volatile.

Shiba Inu Coin Price Prediction

However, since 2021, the coin has gradually increased, starting at $0.0000000001. Competing against other crypto rivals, SHIB has only taken a steady ride of going upward, showing satisfying if not promising trends till it finally stabilized at $0.00000001 by February 2021, even among market ups and downs and pandemic setbacks. SHIB, in the beginning, performed as per an upward trend with multiple record highs till it hit the all-time high value of $0.00008845.

After SHIB hit its ATH, profit booking sentiments overtook the bulls, and the price started falling continuously in a downtrend to date. The downfall was so strong that the SHIB price lost more than half of its value in just 3 months. Not just that, the current price of Shiba Inu is very close to its previous price level from where the uptrend has begun.

Due to regulatory changes in US Fed rates, the recent market crash has made it more difficult for SHIB prices to bounce back or even begin the uptrend. As per our SHIB price forecast, the only good thing is that investors and traders might see a buying opportunity for the coin due to lower prices.

Shiba Inu: Market Sentiment

The current price of Shiba Inu stands around $0.00001245 at the time of writing, with a total supply in the circulation of 549,063,278,876,302 SHIB. The 24-hour trading volume of this crypto is around $502,543,267; in terms of market position, the market capitalization of the Shiba Inu hit $6,834,755,782.