SHIB Retreats, Right Time to Buy or Sell?

SHIB Retreats, Right Time to Buy or Sell?
Shiba is 0.0000269, The Current Outlook is Marginally Negative. For the next 24 hours, Shiba Inu is predicted to trade in a range of $0.0000129 and $0.0000132.

The Technical Recommendation for the next 24 hours is Buy


Shiba Inu Price Prediction 2025 is 0.0000557

Shiba Inu Price Prediction 2030 is 0.00023

73% predicted that Shib will breach 0.000015. This Prediction has come True

Read our detailed analysis on Shiba Inu Coin Price Prediction.

Shiba Inu [1 SHIB In USD]

Shiba Inu was trading 0.98% lower at $0.00001319. Market Cap: $7.23 B, Trading Volume: $450.4 M.

  • This is the highest level for SHIB since May 2022. In terms of YTD Performance, SHIB is now on par with DOGE
  • Shiba Eternity was launched in Vietnam and would soon be rolled out Globally
  • Our analysis finds little correlation between Shiba Inu price and Whale behavior

Why did Shiba Inu Surge?

  • Shiba Inu’s surge has mostly depended on the surge of crypto market and the current market is on the rise over the last 8 weeks
  • The immediate reason for the surge could be Shiba Eternity, Shiba Inu’s game.
  • One of the important factors that will help the surge of Shiba Inu will be the current US inflation rate. The inflation has finally come down to 8.5 and this is good news for cryptocurrencies.
  • The developers of the Shiba Inu are working to improve the ecosystem of Shiba Inu so that more investors will be attracted to SHIB
  • As we know Shiba Inu is a token issued on the Ethereum blockchain. The transaction costs on the ETH blockchain are quite expensive and the speed has been a question for some time. The ‘Meme Coin’ developers no longer want the Shiba Inu coin to be called Memecoin. Expanding their ecosystem, Shiba Inu developers are working on their own blockchain, Shibarium which is expected to be launched this year. Once Shibarium is live, Shiba Inu will be free from the ETH blockchain and there are high chances of Gas fees going down after that.
  • Since the crypto market crashed, there was hardly any bull action as the surge that used to happen was always short-lived. However, in the last few days, it was noticed that the surge lasted for a couple of days and the crash has not been as brutal as it was the last few weeks ago. Therefore, it is clearly evident that the bulls are once again backing the SHIB and the price is expected to rise in near future.
  • As per our analysis, it was noticed that every time there was a surge in the price of Crude oil, the crypto market crashed. In the last few months, the price of crude oil has soared and it’s clearly reflected in the crypto price. However, in the last few weeks, the crude price has decreased and the overall outlook of the crypto market has improved. So as the crude price decreases further, there are high chances of the crypto market improving further.

Shiba Inu Price Prediction: Here are two factors that hint at Shiba Inu’s Existence 

  1. Whales: Shib price in the past has been mostly driven by the Whales. One data also shows that SHIB is the biggest altcoin or the favorite altcoin among the ETH whales. In addition, as per the IntoTheBlock, 28% of SHIB holders are older than 1 year. This shows that investors are in no rush to exit the crypto despite sluggishness.
  2. The Lunarcrush Social metric shows mentions of SHIB have increased by over 11% (43.96k), which eans that despite the price drop, investors’ interest is intact.

Why Shiba Inu Is Not Dead?

It is no hidden fact that SHIB’s price had crashed below $0.000010 but it has been trying to recover and has been able to rise over $0.000010. But there is an extreme fear about SHIB’s existence. But we believe that Shiba Inu will survive this period and once again start rising. Here are the reasons why Shiba Inu is down but not out:

  1. Shiba Inu recently became the favorite altcoin for the ETH whales. It is reported that the SHIB holdings among the ETH whales are at the ATH. As per Whalestats, the average Shiba Inu holdings among the ETH whales are 463.5 billion SHIB tokens.
  2. The second and the most important reason for SHIB’s journey not going to end is the increase in wallets holding SHIB for more than a year. In the past, it was noticed that just about 1 percent of SHIB investors had been holding SHIB tokens for 1 year or more. Now the latest data by IntoBlock shows, that there are over 28% of SHIB holders who have been holding SHIB for a year or more. This gives an affirmation that the SHIB investors are holding on to their assets rather than quitting the market.

Shiba Inu Price Prediction 2022, 2025, 2030

Shiba Inu coin price is likely to rise over the next few years. With substantial efforts by the core team, Shiba Inu is seen differently from other meme coins.

  • Payments – Partnerships (Gucci, Tag Heuer, AMC, Sao Polo FC tec)
  • Rewards (Leash)
  • Bone (Governance Token)
  • Metaverse (Fairly New) – Shib has aggressively moved towards building a Metaverse as most of the cryptocurrencies in that space have lower Market Caps than Shiba Inu. The Metaverse will enable users to conduct commerce using $SHIB. This looks promising but it is early days of execution as of now. The company has begun execution by auctioning Metaverse Land
  • Shibaswap (DeFi platform)

Here are the aggregated forecasts for Shiba Inu

Forecast
Shiba Inu Price Prediction 2022$0.0000269
Shiba Inu Price Prediction 2025$0.0000557
Shiba Inu Price Prediction 2030$0.00023

Read: Here is every reason why Shiba Inu Price Pumped or Dumped in 2022

Read about Bitcoin Price Prediction

Key Questions about Shiba Inu

Shiba Inu Price Prediction: Will Shiba go back up?

The likelihood of Shiba going back up is contingent on the following micro and macro factors

  • Proven performance (no promises) on Shiba’s development plans – Shibarium, Metaverse, and such
  • Burn rate that should increase to 3-4% per annum
  • US Inflation rate is beginning to fall and the Fed is signaling that it won’t increase interest rate anymore
What are the Use cases of Shiba Inu?

The use cases of Shiba Inu have increased, there are many outlets both offline and online that have started to accept SHIB as a form of payment on some if not all of their goods. Shiba Inu’s company is also working on the project to make a SHIB Metaverse which will give some utility to the token since SHIB will become the native token that can be used to purchase land or earn SHIB by selling it.

What are the Risks of Investing in Shiba Inu?

Investing in Cryptocurrencies is not for the faint-hearted. Altcoins (any coin other than Bitcoin) are very volatile and could swing 5-10% every day for days together. So, if you are uncomfortable with that kind of volatility, Shiba Inu is not appropriate for you.

Some of the best-performing cryptocurrencies in 2022 were very differentiated from the rest. That aside, Shiba Inu was not a fully differentiated cryptocurrency at the time of launch. While it is differentiating itself now, that is still a work in progress. If SHIB fails to differentiate itself sufficiently, new investors are likely to invest in cryptos that quite different from the others.

Is Shiba Inu worth buying?

Crypto investments are subject to market risk and many factors from around the world influence the price of cryptocurrencies. Recently, crypto investors lost a huge investment due to the Luna crash and since then there have been many questions about cryptocurrencies.

Shiba Inu is a meme token created as an alternative to another meme token Dogecoin. Therefore, a question arises, Is Shiba Inu a safe investment, or is Shiba Inu worth buying? We will be highly cautious when answering this question as investing in cryptos includes finances and wrong advice could lead to huge financial losses.

Shiba Inu was launched as a meme coin but its developers are working day in and day out to shed off this meme coin tag. Shiba Inu developers are creating their own blockchain network Shibarium so that they could move away from the dependency on the Ethereum blockchain network. Added to it several projects like Shibverse, and DoggyDao are in pipeline to support Shiba Inu. Therefore, from a technical point of view, Shiba Inu is worth buying but looking at the market condition it may not help you make a profit in the short term.

Shiba Inu Price Prediction: Performance in 2022

Shiba InuGain/Loss
Last 5 Days-2.2%
YTD-60.5%
Dogecoin
Last 5 Days-8.7%
YTD-60.5%
Ethereum
Last 5 Days-12.3%
YTD-57.2%

On the yearly chart, SHIB did make some improvement recently and for the first time it was able to narrow the loss below 50% but the loss has once again risen to 60%. Its rival Dogecoin is also 60% down and ETH is down 57% on the yearly chart.

Shiba Inu Price Prediction: Technical Analysis

Investing.com
S30.0000129
R10.0000132
RecommendationBuy

Shiba Inu Price Prediction Today

Overall OutlookMarginally Negative
Market WisdomNegative
Technical RecommendationBuy
Market DataLower
Crowd WisdomNeutral
BuzzLower
Social Media SentimentHigher

Shiba Inu Price Prediction: Latest Tweets

Originally tweeted by Steve Crypto (@StevezCrypto) on August 23, 2022.

Were you late to $EOS and $CHZ today? I’d be watching $SHIB right now if I was trying to figure out another #cryptocurrency that’s ready to move.

Looking like #SHIB #crypto is loading up on the #cryptomarket👀

**Just my opinion ** **Not financial advice**

Here’s my $SHIB chart. Is #shibainu getting ready to lauch the #cryptomarket? Is loading up to test one or both key resistance levels? 👀 You all do what you want with this information. Personally, I’m getting in, but as always, do your own research. Not financial advice.

What is Shiba Inu Coin and how does it derive value?

  • Shiba Inu is an Ethereum-based cryptocurrency introduced as an alternative to Dogecoin. It was created in the year 2020 by an anonymous person name “Ryoshi”
  • The Shiba Inu token started with a supply of 1 quadrillion SHIB. 50% of the supply was locked in Uniswap and the other half was burned the other half to Ethereum co-founder Vitalik Buterin for safekeeping.
  • The demand for Shiba Inu coins comes from
    • Payments: Increasingly a wide range of companies accept Shiba Inu – AMC, Gucci etc
    • Shiba Inu In Metaverse: Shiba Inu became the newest player to enter the world of the metaverse. Shiba Inu began to sell land parcels in its metaverse.
    • Shibswap: Shiba Inu ecosystem comprises three different coins, Shib, Bone, and Leash. These three tokens come together to create Shibswap.
    • Shibarium: Shiba Inu is set to introduce its own blockchain-like transaction system Shibarium. Recently a test run of Shibarium was done which led to a massive spike in the price of Shib tokens. Once Shibarium becomes public, Shiba Inu will no longer depend on the Ethereum platform to complete its transaction. This will reduce the gas fees that ETH charges other tokens to run and operate on their platforms.
    • Doggy Dao: Shiba Inu makers have recently launched the first phase of Doggy DAO.

Shiba Inu Price Prediction: History

  • Shiba Inu started after the success of Dogecoin, it is believed to be launched to mock Dogecoin (since it was a meme coin), it is also believed to be dubbed as the ‘Dogecoin Killer’. Since Dogecoin became popular as a meme coin, the founders decided to put the face of a dog’s breed and decided to start a coin.
  • However, the success of Shiba Inu was huge which resulted in more knockoffs in the crypto market such as Elon’s rabbit, Baby Mon Floki, et cetera. However, it is believed that SHIB really took off after it launched its Decentralized Exchange platform.
  • From time to time, Shiba Inu has achieved new heights and will continue to do so, it is predicted to reach $0.25 by the end of 2030 which is highly optimized for any cryptocurrency. However, it should be noted that both the coins like any other meme coin have no utility to provide.

Read about Ethereum Price Prediction

Shiba Inu Price Prediction: Some Facts

  • Shiba Inu is an Ethereum-based cryptocurrency introduced as an alternative to Dogecoin. It was created in the year 2020 by an anonymous person named “Ryoshi”
  • The Shiba Inu token started with a supply of 1 quadrillion SHIB. 50% of the supply was locked in Uniswap and the other half was burned the other half to Ethereum co-founder Vitalik Buterin for safekeeping.
  • The demand for Shiba Inu coins comes from
    • Payments: Increasingly a wide range of companies accept Shiba Inu – AMC, Gucci etc
    • Shiba Inu In Metaverse: Shiba Inu became the newest player to enter the world of the metaverse. Shiba Inu began to sell land parcels in its metaverse.
    • Shibswap: Shiba Inu ecosystem comprises three different coins, Shib, Bone, and Leash. These three tokens come together to create Shibswap.
    • Shibarium: Shiba Inu is set to introduce its own blockchain-like transaction system Shibarium. Recently a test run of Shibarium was done which led to a massive spike in the price of Shib tokens. Once Shibarium becomes public, Shiba Inu will no longer depend on the Ethereum platform to complete its transaction. This will reduce the gas fees that ETH charges other tokens to run and operate on their platforms.
    • Doggy Dao: Shiba Inu makers have recently launched the first phase of Doggy DAO.

Shiba Inu Price Prediction: How to Buy Shiba Inu?

Here are the steps to buying Shiba Inu crypto:

  1. Finding the Exchange where the Shiba Inu coin is listed
  2. Create an account with the Exchange
  3. Verify your identity
  4. Fund the Wallet
  5. Make the Purchase

Shiba Inu Coin is one of the most-popular cryptocurrencies therefore most of the exchanges have listed Shiba Inu for trade. Here are a few popular exchanges where you can purchase Shib:

Robinhood, Binance, Crypto.com, Atomic Wallet, Voyager, SevenB and KuCoin.

Shiba Inu Price Prediction: Rise and Fall of Shiba Inu in 2022 (Monthly)

January 2022: When the new year began, the entire crypto market was under the pressure of US Fed which had announced increasing the Interest Rate. Due to this the market was trading lower. Shiba Inu was trading marginally over $0.000030 and the fear of SHIB retreating below $0.000030 was very high. However, with no change in the FED Rate, Shiba Inu’s price remained marginally over $0.000030 by the end of January 2022.

February 2022: Things changed for the entire crypto market in the month of February. Initially, Shiba Inu was trading at over $0.000030 but with Russia declaring war against Ukraine, the overall crypto, as well as stock market around the world, crashed. Shiba Inu’s price also started to tumble since the declaration of war. By the end of the month, Shiba Inu was trading below $0.000025.

March 2022: The crypto market was already under extreme pressure since the Russia-Ukraine War started. Things became worse as the Fed Rate Hike was approved in the month of March. On March 16th, US Fed approved increasing the rate by 0.25%, it was the first increase in the rate since December 2018. This decision led to the entire crypto market crashing further. However, Shiba Inu tried to maintain its price at over $0.000020 and by the end of March 2022, Shiba Inu’s price remained marginally below $0.000030.

April 2022: The Shiba Inu Community has been waiting for a Robinhood listing for a long time. The community expected the price of Shiba Inu to sky rocket after it gets listed in Robinhood. On April 12th, Shiba Inu was listed on the Robinhood exchange. There was a surge in the price of Shiba Inu initially. Before the listing, Shiba Inu was trading below $0.000025 but after the announcement, the price zoomed past $0.000025. However, what was expected did not happen.

The price of Shiba Inu did not go over $0.000030 even after the Robinhood listing. One reason for this was the already strained economic condition around the world and despite the listing, fewer investors showed their interest. Even the Shiba Inu Whales did not participate in the bull run.

May 2022: May 20222 turned out to be the worst month for the crypto market. The reason was that Terra Luna’s Stable coin, UST Lost its PEG. The incident affected the crypto market so badly that all the cryptos crashed. Shiba Inu’s crash was worst. For the first time since October 2021, Shiba Inu’s price went below $0.000020. By the end of May 2022, Shiba Inu was trading marginally at over $0.000010.

June 2022: There was no improvement in the momentum of the crypto market in June. More sell happened than buys. The overall crypto market value went below $1 T. Shiba Inu’s price tumbled and it went below $0.000010 and added one more “0” to its value. The situation became such that the Whale action became very less and more SELL took place due to the fear created by Luna.

July 2022: July did not bring any good hope for the crypto world. The market remained lower and the biggest cryptocurrency, Bitcoin was trading below $20,000. Shiba Inu was trading below $0.000010 initially but there was some improvement and for the most part of the month, Shiba Inu’s price remained at over $0.000010.

August 2022: Initially the month of August has been slightly better than the last few month for the crypto market. Shiba Inu experienced a surge in price initially and it was trading at over $0.000016. But with US FED announcing the Rate Hike to Continue in 2023, the market turned red and Shiba Inu’s price crashed once.

Read: Will Shiba Inu reach 1 Cent? Yes, in the next few years

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.