Shiba Inu Coin: price and predictions

What is shiba inu crypto?

Shiba Inu is an ERC-20 token, native to the Ethereum blockchain. In contrast, its “rival” Dogecoin is a fork of Litecoin.

This token is part of the world of memecoins, i.e., assets with rather low (even zero) intrinsic value that leverage graphical and emotional aspects.

On the former, a coin in the category usually has as its symbol an animal or at least something very sympathetic and attention-grabbing. The entire communication is set up to have the greatest impact.

Regarding the emotional sphere, a memecoin survives because of the community’s elation, driven by the belief of immense gains in a relatively short time.

Shiba Inu token has precisely as its symbol a Shiba Inu, a dog breed from Japan, the same breed that lends its face to Dogecoin.

Born in August 2020 at the hands of Ryoshi, SHIB raised large amounts of capital in a very short time. In less than a year, the milestone of $10 billion capitalized was crossed.

By November 2021, 15 months after entering the market, the figure surpassed the $40 billion mark. Very impressive indeed.

Shiba Inu coin has as its basic idea this question, “What would happen to a cryptocurrency managed entirely by the community?” Ryoshi, the creator, created this project as an experiment designed to provide an answer.

Therefore, Shiba Inu is an interesting “laboratory” of decentralization, a case study worth following from time to time.

The community has already demonstrated that it is strong, determined, and able to bring the token close to far more structured giants.
The hard core of this group is called the SHIBArmy, a veritable army of people who firmly believe in this reality.
Here, let us make a self-correction: it is probably incorrect to say that SHIB has no intrinsic value. Indeed, while not enough to make the asset attractive, hundreds of thousands of aggrieved holders cannot be ignored.

Returning to the history of this token, Shiba Inu coin has always been nicknamed as The Dogecoin Killer. This is due to the stated desire to surpass the value of the famous memecoin, which is almost impossible because of the huge difference in supply.
However, SHIB actually reached DOGE’s capitalization (only to lose ground again), proving that it can hold its own.

Like any meme coin, Shiba Inu alternates between extreme pumps and equally vertical dumps, where billions in capitalization are burned in a very few hours. It is not an asset for the faint of heart.

The Shiba Inu token is a viable trading choice only for experienced, risk-aware people who are ready to work through fluctuations in value from a speculative perspective.
In this sense, hype and FOMO play in favor, and one can earn large sums by entering at the right time.

Unfortunately, most individuals are inexperienced and operate by reasoning about the investment, imagining unsustainable growth and then blatantly miscalculating. Before we find out why by studying tokenomics, let’s devote a few lines to the team.

"Shiba Inu coin is an ERC-20 token, native to the Ethereum blockchain, published in 2020."

Who is behind Shiba Inu?

So much mystery still hovers behind Shiba Inu coin.

Who is Ryoshi? We know that the creator has this nickname but we do not know his real identity.

In March 2023 a link was found between the creator and the OpenSea profile of a certain ALAMEDA (not to be confused with Alameda Research). There is a probability that this is the same person.

Ryoshi has always operated anonymously, mostly writing Medium articles and tweets. After the summer 2021 super pump, he removed much of the content.

Also important is the figure of Shytoshi Kusama, a developer who is working on the layer-2 Shibarium project, which we will discuss later.

In short, as is often the case in the meme world, there is also a veil behind this currency that conceals the identity of the figures who helped bring it into being.

Tokenomics of Shiba Inu coin

Is Shiba Inu a good investment? Let’s start with tokenomics to answer this question.

The Shiba Inu coin (SHIB) has a total supply of 1 billion (1 quadrillion in English). Of these, just over half are in circulation: about 589,000,000,000.

At launch, 50 percent of the SHIBs were locked on Uniswap, the famous DEX AMM.

Instead, an identical share was sent to a wallet owned by Vitalik Buterin, cryptocurrency tycoon and creator of the Ethereum blockchain.
This move stemmed from wanting to secure a future for $SHIB. The idea behind it was as follows: if Vitalik Buterin keeps the coins he receives, the token supply will gain stability and security. Needless to say, this seems more like marketing than anything else.

To date, the market cap of Shiba Inu coin is far from the peak of more than $40 billion reached in November 2021. All normal in an industry that is still quite volatile.

Shiba una’s performance should not be surprising: it is still a memecoin where FoMO and hype rule unchallenged.

As with others of its kind, operating on Shiba Inu coin is very risky. Prices fluctuate extremely: one day you can achieve a super gain and on the next day lose it totally…if not more!

This coin is suitable terrain for the most reckless, people who are aware of the dangers but also of the possibility of very quick and substantial gains.
The problem is that these people represent an inner circle: more often than not, meme coins like SHIB are the first moorings of inexperienced “investors,” unaware of the risks involved.

Going back to the numbers, SHIB is not the only token in the Shiba Inu environment. There are in fact LEASH and BONE: let’s delve deeper.

LEASH token

Here is a crypto initially thought to be peggable to the value of Dogecoin. Having dropped this idea, LEASH is now a simple ERC-20 token.

The supply is very limited: 107,647 units. As a result, the price is quite high.

$LEASH has not achieved the success of the parent Shiba Inu coin. In all honesty, since it also lacks the community component, this token really has no value or utility.

You can put LEASH in stakes or deposit it in the ShibaSwap liquidity pool. However, by doing so, you are exposed to an asset with no intrinsic value; frankly, there is no reason to do so.

BONE token

The third cryptocurrency in the Shiba Inu coin landscape is called BONE.

The supply is 250 million, so very small compared to SHIB.

BONE possesses a use case because it is a governance token. As is often the case, the greater the share held, the greater the weight in the voting process.

The BONE token can also be put into stakes or liquidity pools, generating some return. However, the point made a few lines above applies: is it worth having exposure to an asset with limited intrinsic value?

Let’s face it: there are better opportunities. If you want to take risks and do some pure gambling, you might as well play with SHIB, which is much better known and has a strong community behind it.
Maybe, with a lot of luck, you will be able to get in before one of the “shots to the sky” and earn a nice nest egg.
Be careful, though: it is also possible to end up in the middle of one of the downward movements, so watch out for the dangers!

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Will Shiba Inu coin reach $1? Let's dismantle the myth

Let’s talk about the main pitfall that the most inexperienced fall into: price.

Shiba Inu has a value equipped with several zeros after the comma. There is therefore a tendency to think “well, if $SHIB were to reach even 1 cent, having 500,000,000 of them would make me rich.”

There is worse: there are many people who trust in a future value of 1 dollar or 1 euro. This is impossible, and simple calculations are enough to prove it.

NB: The figures given (market cap and price) vary over time and may not match the actual figures at the time of reading. However, the basic calculation remains correct and can be readjusted with updated data.

Price is given by a few factors put together: supply and demand, nothing more.

The former is variable, while the latter is well known: 1 billion total supply and 589 trillion circulating.

As demand increases, with supply fixed or decreasing, the price increases. This is the case with SHIB: supply is that, it cannot increase over time.

Let us imagine that Shiba Inu coin has a market cap of $12.5 billion; instead, the price is $0.00002267.

If we did not have it available, the market cap would be easily calculated by multiplying price and supply: 0.00002267 x 549,000,000,000 = 12,500,000,000.

There is thus an inseparable relationship between these elements that represent exactly the factors called into question a few lines above: demand, supply and price.

Let us dismantle the myth of SHIBA Inu coin price = 1 USD.

To achieve this, the total market cap would have to reach 549,000,000,000 x 1 USD, or 549 trillion. Since these are huge numbers, let us make a comparison with Bitcoin.

The supply of BTC is 21 million, of which 19 are mined and circulating. The current market cap is $750 billion, compared with a per-piece value of $39,305.

1 trillion is equal to $1 trillion. To reach a dollar value, the Shiba Inu coin would have to exceed bitcoin’s current value by 732 times–a bit much, no?

Not to mention that this number would far surpass the sum of markets such as gold, silver, cash, FED reserves and more.

Same on the possible value of 1 cent: 549 trillion x 0.01 = 5.4 trillion, a figure much higher than the highs reached by bitcoin. Of course, we are talking about numbers that are definitely more affordable but rather unlikely even in the best of bull runs.

This is not to say that Shiba Inu price will not grow beyond the highs it has reached over time: it might, who knows? The purpose of these calculations is simply to warn against promises of gains based on unrealistic figures on future Shiba Inu pricing.

In conclusion it is not possible to make accurate Shiba Inu price predictions, as the volatility of risky assets is difficult to predict and especially with the emergence of new memecoins these could steal the show from Shiba. What is your prediction for the Shiba price?

Shiba Inu coin communities and projects.

As we have already mentioned, the SHIBArmy is the strength of the Shiba Inu token.

The experiment started by Ryoshi has been successful: more than a year and a half after its launch, SHIB is stably among the top cryptocurrencies by capitalization. Behind it are more structured realities such as Cronos CRO and Cosmos ATOM.

Shiba Inu coin is a demonstration of how a united and determined community can overturn predictions and bring such a simple idea to glory.

Over time, however, projects have taken over to give intrinsic value to the token, trying to make it more competitive on fundamentals as well.

Let’s be honest: SHIB remains a crypto rather poor in substance; however, the effort made is appreciable and there are more features and updates in the pipeline that could change the current scenario.

First, let’s talk about ShibaSwap, the DEX built around Shiba Inu.

The portal is under continuous development and over time we will see the addition of several tools, we just need to be patient.

This DEX is built well and is quite pleasant to use. Here you can trade cryptocurrencies by taking advantage of the security of the Ethereum blockchain, something worth highlighting.

As we said, ShibaSwap is not the only project in place; in fact, there are several new ones coming.

In February 2022, phase 1 of DoggyDAO, the coin’s Decentralized Autonomous Organization, started.
DAO and ShibaSwap will operate interdependently, thus building a true ecosystem.

In addition, the roadmap envisions other pieces to be added to the Shiba Inu world:

• Metaverse: There are few details available about Shiberse , so not much is known about it (just below is a photo taken from an official tweet).
• ShibaNet: project not yet started. It will be a marketplace where sales and purchases can be made using a SHIB stablecoin.
• Gaming: Shiba Inu-themed games are in development, including a trading card game in the form of NFT.
• Shibarium: Here we come to the most significant arrival. Shibarium is an Ethereum layer 2 and will remove slow transactions and gas fees. Launched in August 2023, it started off on the wrong foot due to large funds stuck on the bridge with Ethereum.

So far we have talked about poor intrinsic value and so on. The release of a well-done layer-2 could turn the tables a bit.

Of course, it remains to be seen, and until then the usual recommendations apply: memecoins fluctuate quite a bit in price, operate only with awareness of the risks.

Moreover, some of the projects just listed have no particular progress to report despite some time having passed since the announcement.

How to buy Shiba Inu coin?

Due to its success, Shiba Inu coin can be purchased on all major cryptocurrency exchanges. Here are some suggestions with referral links: follow them and sign up for discounts and benefits!

• Bitget: 15% off fees and up to $8,000 bonus;
• Binance: 20% off fees and $100 rebate on the first ones paid;
• Bybit: trading bonus for new users;
• OKX: mystery box worth up to $10,000.

The coin can also be purchased on numerous DEXs in DeFi.

What will happen to Shiba Inu?

We have done an overview of Shiba una and the ecosystem that is in development.

We know that this cryptocurrency has a strong community behind it that is motivated to continue its rise.

We are also aware of plans to develop and grow a world built around the token. While SHIB is a meme coin, perhaps over time it could become a bit more serious and mature.

In the meantime, let’s enjoy this phenomenon that can stand naturally among structured and authoritative crypto projects.

Let us close with a clarification: Shiba Inu is not a scam token.

SHIB is not to be confused with the thousands of useless clones created to follow in its footsteps. Often, the latter are made by people whose sole purpose is to raise as much capital as possible and then leave it all to itself.

Memecoin is not synonymous with fraudulent purposes. Let’s put extreme volatility, risks and all, but no dishonest actions.