Shiba Inu coin, one of the most talked-about cryptocurrencies in 2021, continues on its upward streak. The Shiba Inu coin offers fast transactions, very similar to Bitcoin, but lower-priced and affordable.
Price hikes like Shiba Inu’s are attributed to people and governments increasingly accepting cryptocurrencies.
The coin is currently trading at $0.000045 and has stopped its upward rally. The trading volume is down by 44%. The coin witnessed a high at $0.00008845, after which it decided to take a quick rest.
On successive days before this, a whale bought massive SHIB coins under its portfolio mid Nov.SHIB market cap by CoinMarketCap
In addition to volatile market movements, volumes on the market have also increased significantly, which is the first indication of a high number of over-leveraged positions on the market.
Several questions need to be answered regarding the price of Shiba Inu Shib in the future. Crypto traders and investors are interested in knowing the predictable end of crypto tokens such as Shiba Inu Shib.
Supporters project that the ShibaSwap, Shiba Inu’s decentralized exchange launched last July 6, 2021, will boost the popularity of the coin by allowing users to trade among Shiba Inu and other cryptocurrency tokens.
By considering the market capitalization of Shiba Inu and the unexpected surge in its price, it is clear that the cryptocurrency is destined to continue to do the same. It is backed by a vicious community that propagates social media hype to ensure the coin’s value rises to the moon.What is Shiba Inu?
Shiba Inu is arguably among the most popular meme-coins today, named after the Shiba Inu dog. The coin has gained tremendously over the years. It is essentially a decentralized meme token that has managed to evolve and amassed a vibrant community for its ecosystem. The dynamic community-building approach has made Shib popular, resulting in the name “the DOGE coin killer.” It is available today on most decentralized exchanges.
Shiba Inu has recently recorded relatively high price gains in the recent months since its launch in August of 2020. The future appears bright for digital assets as forecasts show that a majority will continue to increase worth over more extended periods.
Since Shiba is dependent on the Ethereum blockchain and has support from Elon Musk, it is highly likely to experience exponential growth.
Shiba Inu is essentially the most popular cryptocurrency inspired by the famous Dogecoin. Most of these dogecoin-inspired tokens have gained popularity due to the unprecedented endorsement by Tesla CEO Elon Musk – who has openly endorsed Dogecoin.
Shiba Inu has realized significant gains following its recent listings on popular crypto exchanges like Binance. However, there are bold critics of this ranking by market cap. In this writing, Shiba Inu is ranked #12 with a market cap of $24.8 B.
Recently, AMC decided to enlist SHIB into the list of cryptocurrencies that will accept crypto payment.Shiba Inu price history and technical analysis
Whenever we attempt to perform a Shiba Inu Coin price prediction, it is essential to analyze its price history. As the famous quote goes, you must know the past to comprehend the present and predict the future, and it applies directly to price action and technical analysis.
Since Binance listed the Shiba Inu token, the price has undergone some rollercoaster. Arguably, this is because of the recent bear market that was imminent, according to most technical analysts.
When Shib was first listed on the Binance exchange, the Shib price quickly skyrocketed, as expected, from $0.00001416 to a whopping 0.00005007 before slowly tanking.
The DOGE coin killer price portrays enough room for growth in the current bull market. Therefore, Shib coin is an excellent coin to invest in today to profit in the current crypto market. SHIB was initially created with a total supply of 1 quadrillion. Still, almost 50% of the tokens were sent to Vitalik Buterin – Ethereum co-founder, who consequently burned the cryptocurrency in a dead wallet.
Today, the total circulating supply, according to CoinMarketCap, is 549 Trillion Shib tokens.Pros and Cons of investing
Shiba token is regarded as one of the most volatile cryptocurrencies alongside Dogecoin. These cryptocurrencies fluctuate in price quite often. Some of these fluctuations result from endorsements, or lack thereof, from Tesla Founder and CEO Elon Musk.
However, investing in crypto can be a good idea, while it can also go against expectations. Below are some of the pros and cons of investing in Shiba Inu, given the projected USD predictions.Pros
- According to recent Shiba Inu price prediction, the Shib price has an incredible potential to realize significant growth in a bull run.
- Elon Musk’s tweet directly influences the price of Shiba Inu Shiba; whenever Elon endorses these meme coins, the price of Shiba Inu is expected to skyrocket.
- Investing in the cryptocurrency market generally allows you to benefit from high percentage growths from relatively new tokens like Shib.
- Since we’re are in a bullish market, most tokens should increase in value. Shib is no exception, and if the bull run continues for long, Shiba Inu price prediction on the Binance exchange could see a new all-time high.
- Many people make investments intending to make more money out of them. However, investing in Shib may result in significant losses since the market does not always guarantee positive growth.
- Trading with Shib can only be profitable if you pay attention to crypto news and be aware of any that may affect the forecast price positively or negatively.
Market Prediction for Shiba Inu Coin-2021
In 2021, Shiba Inu’s price is expected to fluctuate. Essentially, all crypto assets fluctuate in value; however, at the beginning of 2021, most coins experienced an impressive bullish trend until Tesla’s CEO openly mentioned that the Electric carmaker would no longer accept Bitcoin as payment. Following these remarks, a global downward trend began as more and more negative news flooded the market.
Below are some Shiba Inu price prediction 2021 data from various analyses.Shiba Inu coin price prediction from TradingBeasts
TradingBeast bases its predictions on historical data. And according to their forecast, it is evident that the price of the Shiba Inu coin is expected to grow.
According to the analysis, the coin is a good investment due to its future price forecast. By their current data on Shiba Inu, the price of Shiba Inu, by the end of 2021, is projected to be $0.0000728, implying a 21% increase.
The 2021 forecasted Shiba Inu price indicates a strong buy signal for the meme coin, and crypto users should consider including it in their crypto investments portfolio. The future cost of Shiba Inu shows a positive trend, creating an ample investment opportunity for crypto investors.Shiba Inu coin price prediction from Wallet Investors
According to Wallet Investors’ forecast, Shiba Inu Shib price is rising. If you want to increase the dollar value of your investment, investing in the recently listed Inu coin would be profitable.
Based on the forecast, the coin provides the opportunity to achieve up to +71% in a single year. Wallet Investor forecasts that Shiba tokens will increase to $0.000068 by the end of 2021.
Comparing the forecast to TradingBeast’s, Shib tokens will likely continue the bull run for the subsequent years.Shiba Inu Coin Price forecast by Longforecast
The Longforecast forecast shows that the price of this token will undoubtedly increase. Since its launch, the cryptocurrency has experienced normal price fluctuations. Within five years, Longforecasts predicts that the token will hit a +131%% rise to $0.00015512; therefore, Inu is a good token for long-term holders.
Considering the long-term potential portrayed by this Shib price prediction, Shiba coin will continue to rally high in the crypto market, with Shiba hoping to continue hitting new highs.Cryptopolitan’s verdict on Shiba Inu Coin
Cryptopolitan’s verdict on Shib Inu’s place in the cryptocurrency market is quite interesting. We acknowledge that the token is in an upward trend, and it can hit higher highs presenting an excellent opportunity to increase your portfolio’s value in USD.
Cryptopolitan’s Shiba Inu forecast indicates that SHIB tokens continue their growth in the future. Your Shib cryptocurrency investment can skyrocket on the Binance exchange and other related exchanges within the next five years.Shiba Inu Coin price prediction for 2022price of Shiba Inu coins by TradingBeasts