This is because the Shiba Inu coin started as a Dogecoin killer. Bitcoin also appears to have bottomed out near $19,000. 7 Crypto Jobs That Can Make you a Millionaire, Satoshi BTCs core Mining (App) Scam Or Legit Truth, How to Do Fundamental Analysis on Crypto Projects, 15 Easy Ways to Make Money with Cryptocurrency [2023], How to Build a Millionaire making Crypto Portfolio [2023]. Read This. The crypto with the cute dog logo caught the eye of investors in 2021 -- less than a year after its launch. To hit that mark, SHIB would have to make a climb of 34,288%. On 28 October, the token initiated a fresh upward rally and broke above its EMA-20 trend line at $0.000012, and continued its upward momentum further. This was a reach even in the bull market, and is extremely unlikely now. It could happen if enough SHIB token is burnt. That's because much of its rise is spurred on by hype. Per Market Realist, the current predictions suggest Shib coin will reach a value of $0.000019 per coin in 2022 and later hit $0.000061 per coin in 2025. Learn how your comment data is processed. Shiba Inu coin is an altcoin built on the Ethereum blockchain, which is not the same as Bitcoin. That makes it hard for demand to outstrip supply in the long term. SHIB is currently trading around $0.000023 with a market capitalization of nearly $15 billion. Shibarium is set to make Shiba Inu faster and cheaper, and it will allow users to develop chain-specific NFTs. This growth can occur only if there is an active burn program. Even reaching lower prices, such as $0.01 or even $0.001, seems very difficult. Protected by copyright of the United States and international treaties. 5 to 16. Does Shiba Inu Have A Future? All these developments will improve Shiba Inu's functionality and could boost its price. This amount of market cap is virtually impossible to reach. Partnerships and community play a crucial role in building Shiba Inus ecosystem. As analyzed earlier, this will depend on the Shiba Inu Burn, the Implementation of Shiba Inu Plans, and the sustenance of the community. If you see its price increase, you can make the best decisions depending on it. There is a significant possibility that Shiba Inu will hit 1 cent. Also, developing more utility for the Shiba Inu coin will help its value. Both cryptocurrencies were inspired by Shiba Inus, a Japanese dog breed that became known for the "doge" memes that circulated around the Internet. For instance, a statement by the Federal Reserve Chairman on easing the pace of rate hikes led to a 3% rise in Shibs price. Will Shiba Inu Coin Reach 50 Cents? The coin has established itself as a competitor to Dogecoin, another meme coin that is well-known, notorious, and backed by influential figures such as Elon Musk. It has the potential to change Shiba Inu Hodlers life if the team creates token utility within the metaverse, such as buying and selling NFT, land using Shib tokens, and the Play to Earn concept. By simple math, if the SHIB coin were to reach $1, that would mean it has a market capitalization of $550 trillion. Your email address will not be published. If the worst bear market of 2023 ends and the market hit a tipping point, the Shiba Inu could rise to $0.00005 by the end of the year. A potential launch could offer Shiba Inu a near-term boost. Conflux Price Prediction 2023-30: Will CFX reach $100? As we can quickly deduct from the table above, the likelihood of the Shiba Inu price coming anywhere close to $1 at current levels of circulating supply is simply not feasible. Adria Cimino has positions in Ethereum. Investors were looking for the next big crypto star. If the cryptocurrency were to reach $0.01, its market value would top $5.4 trillion. However, since the crypto market is so volatile, nothing can be set in stone. The Dogecoin price has increased in recent weeks, but it has lagged behind the percentage increases of other cryptocurrencies, particularly the Shiba Inu coin, which is another important meme coin. Shibverse, Shiba Inus own metaverse project, is another promising venture. Can Shiba Inu Reach $1? Oluwapelumi is a firm believer in the transformative power blockchain and crypto industry possesses to change the global financial landscape. the Shiba Inu can reach anywhere from 15. Yes, we believe Shiba Inu can reach 0.0001 dollars in the next 11 years. Since the token runs on Ethereum, it's subject to the slow speed and often high transaction costs of that blockchain. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Latvian Parliament declares Russia a "country sponsoring terrorism". What is digital real estate and is it worth investing in? Weve compiled a list, Introduction Do you want to build a rich, profitable crypto portfolio? Other indicators are also dropping for the coin as its trading volume of $217M went down by 50% in that same period. To reach the 50 Cents mark, Shiba Inu needs to buckle up and go on a herculean task by rising 1,719,295% from today's price, which is a steady monthly growth of 28,655% up until December. The popular meme token soared about 45,000,000% back in 2021. Also, developing more utility for the Shiba Inu coin will help its value. Therefore, the answer to the question Can Shiba Inu reach 50 cents? is, unfortunately, no. With the hype surrounding Dogecoin, other meme currencies received some interest. The same answer also applies to questions like will Shiba Inu coin reach $1? and Will Shiba Inu coin reach $10?. In fact, it is impossible to predict the price of an asset 40 years from now. On the one hand, Peter Mallouk, Creative Planning CEO, stated that . Developers delayed the launch of Shibarium more than once last year. Therefore, if you invest $100 now in SHIB tokens, you can expect to earn $914 in the future. By Money Morning Staff Reports, Money Morning October 13, 2021. This could be similar to the run of Dogecoin itself. This is Shiba Inus starting use case. Theoretically and statistically, its not possible to do so now. Even after investors burned billions of Shiba Inu tokens, its price didnt change much. The possibility of such a price action taking place is theoretically impossible, given that the global GDP of all countries is just around $100 trillion. Just to hit the milestone of $0.01 by the end 2022, SHIB will have to manage an average monthly grow of at least 2,500%. Investors are expecting the SHIB price to touch $0.5 sooner or later. The answer to Will Shiba Inu reach 50 cents? is no because it does not have an independent mining system. But some sources say Shibarium beta could launch as soon as next week. size: 550x425 - 550 x 425 */ DCG crypto group announces $1.1 billion loss in 2022, Goldman Sachs analysts forecast a 24% rise in Chinese stocks as the country consolidates in its growth phase. They are called meme coins. DoggyDAO, a decentralized autonomous organization, also shows potential. In fact, Shiba Inu (SHIB) will most likely never be worth $0.50 or 50 cents. Can Shiba Inu's Valuation Hit $10 Billion in 2023? Shiba just has too many coins to mean anything. However, that doesnt mean that Shiba Inu doesnt have a lot of upside potential. The goal of 50 cents may be possible if Shiba Inu gets immense support from the community and brings continuous developments and partnerships to the platform, including Metaverses, DEXs, etc., which will create a high demand for SHIB tokens in the market and hence its price will spark tremendous surges. No, there is no scenario in which Shiba Inu will reach 1 cent soon. However, many cheaper cryptocurrencies exist on the market, like Shiba Inu and DogeCoin. If SHIB drops below this support level, it can experience a sharp decline and trade below the price of $0.000009. To put that into perspective, there are more than 32 million businesses in the United States alone. SHIB can reach 1 cent in 25 years assuming 50% burn and implementing current development plans. Almost all crypto-currencies lost more than half of their value in 2022, and SHIBs price dropped by about 80%. The Bollinger bands upper limit is at $0.000014, which is a strong resistance level for SHIB. The global cryptocurrency market cap was trading marignally lower to $1.07 trillion mark, falling about half a per cent in the last 24 hours. If Shiba Inu aims to reach $0.5, it needs to execute an extreme burn of tokens and get to at least half of the current circulating supply, i.e., 275 trillion. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Save my name, email, and website in this browser for the next time I comment. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Shiba Inu Price History. This means that its mining network is based on the mining network of Ethereum. Shiba Inus journey towards reaching 1 cent can be categorized into four main areas macroeconomic factors, development plans, partnerships and community, and Shiba Inu burn and whale action. The post Blur To Airdrop $300M, Shiba Inu May See A Shibarium Launch Soon While The TMS Network Brings New Ideas To Trading appeared first on Coinpedia Fintech News. Shiba Inu token is a meme coin created in August 2020 by an anonymous individual called Ryoshi. Another point against SHIB reaching $1 is its supply inflation according to our data, Shiba Inu supply has increased nearly 8% year-over-year, making SHIBs prospects of reaching a $1 milestone all the more unlikely. Copyright 2023 CryptoGlobally | Powered by CryptoGlobally, Sandeep Nailwal to help India during the COVID-19 pandemic, How to do Fundamental Analysis On Crypto Projects, How to Become a Crypto Millionaire [2023], What is Metis Crypto? Required fields are marked *. This amount of market cap is virtually impossible to reach. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Shiba Inu is up over 300% in less than a month. This could make Shiba Inu one of the leading cryptos to explode in 2023. crypto that will reach 1 cent. All of this means Shiba Inu doesn't stand out from the competition. Further, the regulatory environment should be favorable and not restrictive. And according to Coinbase, those who do trade Shiba Token typically only hold them for an average of six days. Many cryptocurrency experts predict the value of the Shiba Inu in 2023, but it is not guaranteed, so be careful. 2023 Money Morning All Rights Reserved. Because everyone understands that Web3 is, Do you want to use polygon blockchain but you dont have enough Matic tokens to pay the gas fees? CoinCodex is a cryptocurrency data website that tracks 23317 cryptocurrencies trading on 418 exchanges and provides live crypto prices. until the end of the year on average. The biggest problem with the Shiba Inu Project is its lack of practicality. Keep this information in mind as you make investment decisions. 1 Million Shiba Inu will be worth $10,000 if Shiba Inu hits 1 cent, 1 Million Shiba Inu will be worth $100,000 if Shiba Inu hits 1 cent. The winning cryptocurrencies likely will stand out from the crowd. Shiba Inu in Playstation: Playstation a leading gaming console mentioned Shiba Inu in their new game. It might be difficult to do. However, once Shiba Inu implements many of the proposed plans, it is likely that Shiba Inu will reach 1 cent very soon. The biggest risks are government regulation, poor execution of Shiba Inu plans, and general deterioration in the macroeconomy. The volatility of the crypto-currency markets makes it impossible to determine what SHIB would be worth even in the next 24 hours. Recently Playstation mentioned Shiba Inu in its new game Humanity which allows players to take the character of a Shiba Inu dog and save humanity after the global population has lost their souls and willpower. Buying, trading, or selling cryptocurrencies should be considered a risky investment, and each reader is advised to exercise due caution before making any decision. But many investors remain interested in the token and haven't lost hope in Shiba Inu's potential. That is the highest this cryptocurrency will go, as predicted by experts and analysts. Source- Tradingview. This site uses Akismet to reduce spam. This is because this cryptocurrency was introduced as a joke. Their popularity was mainly due to the promotion of Dogecoin by popular people such as Elon Musk and Mark Cuban. With the current circulating supply, Shiba Inu is unlikely to reach 1 cent any time soon. Some believe that the circulating supply of SHIB will decrease drastically after the launch of the Shibarium Layer 2 network, which will burn SHIB for every transaction. Shiba Inu is showing strong potential as it has been holding its bullish trade in a consolidated range since its breakout. When it comes to cryptocurrencies, the unpredictability of the prices is always an important factor. However, according to Binance, "the top no 1, no 2 and no 5 wallets hold 50.5 per cent, 7 per cent and 3 per cent of total supply respectively". with regard to the token burning mechanism, but first, it must reach 1 cent. If you are a beginner who invests money based on the signal of a Youtuber or another Influencer. Shiba Inu is expected to reach 0 by Wallet Investor. Address: 1125 N Charles St. | Baltimore, MD, 21201 | USA | Phone: 888.384.8339 | Disclaimer | Sitemap | Privacy Policy | Whitelist Us | Do Not Sell or Share My Personal Information. 2021. But more than that is needed to reach $1 due to its humongous supply. Although it was launched in 2020, it was in 2021 that it became popular after Vitalik sold 50 trillion SHIB tokens and donated the proceeds to the India COVID fund. This coin was initially created as a satirical cryptocurrency to compete against Dogecoin (which also has the same dog breed as its logo). Despite its impressive performance in the past couple of years, Shiba Inu is very unlikely to reach $1 or 50 cents because its circulating token supply is simply too large. When he is not writing, he is looking to meet new people. As the name suggests, Shiba Inu coins (SHIB) are a form of cryptocurrency introduced in August 2020. Algorand Price Prediction 2023-2030: Will Algorand hit $100? And having a large quantity in circulation with a short average holding period doesn't help either. In 2015, Dogecoin was also worth $0.00008690. First, even with the massive gains back in 2021, Shiba Inu has never even made it close to reaching $0.01. The Ethereum blockchain, which is a strong resistance level for SHIB an. Biggest problem with the Shiba Inu reach will shiba inu coin reach 50 cents cents Inus ecosystem n't lost in! 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