Shiba Inu Price Prediction
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Few people would know about the agile medium-breed dog existing somewhere in Japan, until about seven years ago! Subsequently, when 2013 blew everyone away by introducing a meme currency, it didn’t stop there. Dogecoin entered the market with the Shiba Inu, a Japanese dog breed.
The year 2020 rocked the crypto space again with the Shiba Inu threshold, this time a cryptocurrency itself featuring the dog breed in convention and logo. Quickly renamed to Dogecoin Killer, the network is sure it would stay staunch until the tagline!
will the Shiba Inu coin reach $1? Don’t dwell on wild guesswork, gulp down the latest news, network updates, shib coin price prediction, and much more!
What is the Shiba Inu ( SHIB )?
Being the native and very first token of the network, SHIB is powered by the Ethereum Blockchain, unlike Dogecoin which runs on similar technology as Bitcoin. To facilitate commerce and exchange, the tokens are designed to be fungible tokens such as the ERC-20. Working on the Ethereum Network is a definitive way to create and issue smart contracts on the blockchain.
Built-in August 2020, the founder is nicknamed Ryoshki and is still unidentified. Additionally, in keeping with the name, the network also invites all dog-inspired artists to the ‘ Shiba Art Movement’. Afterward, he also plans to fetch Shiba Inu from the NFT market.
Fundamental Analysis
After SHIB, the network enlisted the next token, called LAISSE. Kick featuring a Rebase token, the network quickly transformed into a fungible form like the old token. Upon releasing the token, the keys were burned and currently, the token has a fixed reserve of 100,000. Anyone who maintains the liquidity of the currency will receive special rewards, according to the network!
Being in the market as a development project, the network is highly secure as it is powered by Ethereum. With Ethereum planning to switch from PoW to the PoS consensus mechanism, we can expect Shiba Inu to enjoy some of the favors from this transition!
For anyone looking to trade SHIB and LEASH, the network officially declares Uniswap to be the safest trading option. That is to say, most CEXs can block funds and therefore a decentralized exchange is always satisfactory to trade at any time! In addition, the network’s latest project is aimed at “Shiba Exchange”. It is its own decentralized exchange to quickly trade the tokens at ease. The network reported that the DEX is currently undergoing security testing, audits, and final updates for launch.
The altcoin has been listed on multiple exchanges to ease trading with increased liquidity.
one of the more conservative exchanges, Coinbase pro listed Shiba Inu. The exchange added that trading will start from June 17, if liquidity meets!
SHIB Price Prediction for 2021
Despite launching in 2020, the altcoin only started trading at a negligible price after the 2021 rollout. When Vitalik Buterin sold his Shib tokens, the price dropped sharply and fell near 0.00001809 $ 0.00003043. _ Shiba price hit an all-time high in May, jumping 400% from 0.00000153 to 0.00003504. But due to the May 19 stock market crash, the price fell sharply by 200% reaching $0.00000818 on May 21.
The token saw a decline thereafter hovering around $0.00000786 and failed to come back on a very high note yet. In September, SHIB retested a major resistance level of $0.000008587 shortly after listing on the Coinbase platform.
Will Shiba Inu Price rebound in the fourth quarter? The price of the SHIB token surged to $0.000060, around 725% above the low level this month. Shiba Inu’s price rose 28% on October 27 to set a new all-time high at $0.0000595.
If in the coming months SHIB attracts more users, then the price may break out again and may even reach $0.00000823 by the end of 2021.
On the other hand, if the volatility of SHIB increases, the price may reach the potential low level of $0.00000367. However, if the coin continues to move in the market with its current traders, the price of the SHIB token may move to mid figures of $0.00000567. The maximum expected price that SHIB could reach will be around $0.00000823.
Also Read About: What is Shiba Inu?
Shiba Inu Price Prediction for 2022
If this year ends on a high note, the SHIB 2022 trade could start with a bullish price value of $0.000018. But given the volatility issues, if the price drops to a low, it could lose momentum to enter next year’s trade. Thus, the SHIB price could resume in 2022 at $0.000006.
If the network’s own DEX is launched and working perfectly by 2022, the price could crush the $0.00003 mark. But, if Shibaswap does not become a practical reality, with the usual buying and selling pressures, the average SHIB price would be $0.0000228.
On the other hand, if PoW once again becomes a hot topic of debate among various Crypto celebrities, a potential market crash could occur next year. In such a case, we can expect the price to reach the support levels at $0.0000193.
