Although Dogecoin is the leader in a bunch of meme-based cryptocurrencies, there is another one that is treading on its heels. And this is a token called SHIBA INU (SHIB). SHIBA INU is an ecosystem that offers an upcoming DeFi protocol, an upcoming NFT project, three tokens, and the Shiba Inu Rescue Association to help Shiba Inu dogs via the Amazon Smile campaign. The SHIB token is the first cryptocurrency of the project. SHIB is an ERC20 token that is rapidly gaining momentum and claims to be a direct competitor to Dogecoin. Like DOGE, its name refers to the Japanese Shiba Inu breed. According to the creators of SHIB, the token emerged as an experiment from the field of decentralized spontaneous community building and is the first of their several planned dog-related coins.
Now it is called the new Dogecoin killer. The creators of this project were the first to block 50% of the total Uniswap supply and threw away the keys. The remaining 50% of the reserves were “burned” in Vitalik Buterin’s wallet. They will explain this by saying that everyone should buy cryptocurrency on the open market, ensuring fair and complete distribution.
SHIB token statistics
SHIB briefly made it to the top 20 cryptocurrencies by market cap. Currently, it has weakened its position and is in 31st place with a market capitalization of $ 4.2 billion (as of 19/05/2021).
But to figure it out, we suggest you take a closer look at the SHIB token. According to data on CoinMarketCap (as of 19/05/2021):
SHIB price: $ 0.00001051
Market capitalization: $ 4,150,238,731
Volume (24h): $ 2,171,723,410
Circulating supply: 394,796.00 SHIB
Total supply: 1,000,000,000,000,000 SHIB
24 Hour High: $ 0.00001705
24 Hour Low: $ 0.00000953
As it was already noted, the SHIB token appeared not so long ago, in August 2020. There is very little information about the creators of the SHIBA INU project. It is just that the name of the creator is Ryoshi.
What about their future actions and achievements? On the official website of this project, you will not find its roadmap (they also call it RuffMap). The creators say that it is top secret. However, the developers have provided a basic overview so the community can understand their intentions:
- SHIBA INU will continue to standardize its products and integrate them into the global market.
- The project also plans to go beyond the digital landscape. For this, they will create potentially actualizing real-world applications.
- Aside from ShibaSwap DEX, future launches include an Artist Incubator program, an upcoming NFT (non-fungible token) project, and the ShibaSwap release.
- The team also plans to launch another token called Shiba Treat after the launch of ShibaSwap.
Crypto community about SHIB
Since the SHIB token is now gaining immense popularity among the crypto community, many media outlets write about it, and crypto enthusiasts discuss its success.
The Crypto Community mainly makes optimistic forecasts for this cryptocurrency and supports this token.
However, there is also a place for mistrust. The token does not represent any value for the market, the Shiba INU project is just an experiment and it owes its popularity only to marketing strategy and hype. Although the Binance Exchange benefits from a sharp increase in trading volume, even its CEO, Changpeng Zhao, warns against potential risks. On his Twitter he wrote: «Not endorsing it. Super high risk. NFA.»
SHIB price prediction 2021
Recently, the high popularity of the SHIB cryptocurrency has played a key role in its price. From April 2021, the price began to grow. But will it maintain its strong position for the rest of the year? Let’s see what SHIB price prediction is offered by different services.
According to the TradingBeasts service, we can see the following SHIB token price prediction 2021 (as of 19/05/2021):
Minimum SHIB price for 2021: $ 0.0000148
Maximum SHIB price for 2021: $ 0.0000264
Average SHIB price for 2021: $ 0.00001913
Year-end SHIB price predictions 2021:
Minimum expected: $ 0.0000180
Maximum expected: $ 0.0000264
Average expected: $ 0.0000211
Based on the information from WalletInvestor SHIB price prediction is shown below (as of 19/05/2021) :
Minimum SHIB price for 2021: $0.000012
Maximum SHIB price for 2021: $0.000025
Average SHIB price for 2021: $0.000018
Year-end SHIB price predictions 2021:
Minimum expected: $0.000015
Maximum expected: $0.000025
Average expected: $0.000019
The DigitalCoinPrice service shows us the following price prediction (as of 19/05/2021):
Average SHIB price 2021: $ 0.00001574
Average year-end SHIB price expected: $ 0.00001556
SHIB price prediction 2025
Although it can be difficult to make cryptocurrency price predictions, there are many cryptocurrency experts who have made their own forecasts for the SHIB price, and the opinions of various analysts differ.
Let’s take a look at the SHIB price prediction for 2025.
WalletInvestor analysts estimate that by the end of 2025 the average price of this cryptocurrency will be approximately $ 0.000046.
But experts of the DigitalCoinPrice platform believe that the price will be about $ 0.000035 per token by the end of 2025.
Also, among cryptoanalysts, there are suggestions that the SHIB price may fluctuate greatly until 2025.
Despite this, every person who is interested in cryptocurrency has the opportunity to make such a forecast on their own using the appropriate services.
Historical price analysis
All Time High: $0.0000388 (May 10, 2021)
All Time Low: $<0.00000001 (Aug 27, 2020)
The history of the SHIB cryptocurrency is very short, but during its existence it has already shown its ebbs and flows.
Several of the largest cryptocurrency exchanges have launched a new meme token SHIBA INU, which provoked an explosive growth in trading volume. For example, SHIB reached its all-time high after Binance added the ability to trade SHIB. On the same day, SHIB’s market capitalization reached an all-time high of more than $ 13.5 billion. Binance founder and CEO Changpeng Zhao said the platform had run out of ETH addresses at that time. According to him, this is a historic event for the exchange. Nothing like this has ever happened with any ERC-20 token.
On May 13, Vitalik Buterin donated around $1 billion to fight Covid-19 in India. The developer has transferred 500 ETH and over 50 trillion SHIBA INU tokens worth about $1.14 billion to the India COVID-Crypto Relief fund. Such a significant transfer of SHIBA INU tokens caused panic among holders on crypto exchanges, as a result of which the cryptocurrency fell sharply by more than 35%.
Although the SHIB token is an experimental project, some crypto fans believe it is worth investing in it. It seems that the SHIB token has no apparent value, but this cryptocurrency is breaking all popularity records among the rest. And the developers of the project are determined to achieve new goals in order to take SHIBA INU to a new level every time.
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.