Will Shiba Inu Go up?

Will Shiba Inu Go up?

Will Shiba Inu Go up? Shiba Inu’s price has been a matter of concern for all the SHIB investors. But the case is the same with almost all the cryptocurrencies. However, for SHIB things have been slightly worse since January 2022. The price of Shiba Inu is down nearly 70% since January 2022 and over 80% since its all-time high in October 2021.

Now a question that is bothering everyone, Will Shiba Inu Go Up or will the crypto market rise?

Before we discuss the chances of Shiba Inu rising, let us discuss how Shiba has performed this year and what are the chances of Shib’s price reaching different milestones?

Shiba Inu was trading at over $0.000030 in the first week of January but the price started crashing since then. Multiple factors have been responsible for the Shib price crash. One of the factors has been the Russia-Ukraine war which led to a bloodbath in stock as well as the crypto market.

The other reason for the crash was the US Fed’s decision of increasing the rate. Since then the market has been trading lower continuously. Added to it, the Luna crash and UST losing its stable coin tag led to a huge trust issue for cryptos. The fear for cryptocurrency increased and there has been a mass sell-off which has impacted the crypto market a lot.

Shiba Inu Price at $0.01

Shiba Inu investors are, however, hopeful about SHIB token price reaching 1 cent in 2022. For, SHIB to reach 1 cent it will have to increase by 700 times to reach 1 cent ($0.01) this year. In the year 2021, Shiba Inu had risen 60 times in 6 months.

Shiba Inu Price at $0.50

At its current price, for Shiba Inu to reach 50 cents it will have to rise 50,000 times which means the market cap of Shib will also multiply by 50,000 times. If so happens, SHIB will not exceed the market cap of Ethereum on which it is based which somewhat seems impossible as of now.

Shiba Inu 1 Dollar By 2030

The 2030 Price Prediction for Shiba Inu is $0.00016 (average of 3 Platforms). 1 Dollar is 100000 times higher if Shiba Inu’s price is $ 0.00001. The Market Cap would be 100000 x $5.33 Billion = 533000 Billion or 533 Trillion. Apple’s Market Cap is $2.4 Trillion. This is the highest for any company today. 20 years ago, Apple’s market cap was almost the same as Shiba Inu’s is today.

Will Shiba Inu Go up? Is Shiba Inu better than others?

To answer this question honestly, one must ask how well Solana, Polkadot and Matic are performing? All these layer-1 blockchains with large market caps have performed as well as Shiba Inu or even worse than Shib. While Shib did start as a Memecoin, it is one of the most dynamic cryptocurrencies in trying to make it more useful – Payment partnerships, Burn, Metaverse, Shibaswap and so on. The Shib community too has been quite strong in spite of losing so much value in the last few months.

Will Shiba Inu Go up? What are the forecasts for the next few years?

Shiba Inu Price Prediction in 2 years

Shiba Inu is forecast to rise to 0.00003124 in 2 years that is 2024. That is nearly 3 times the price of Shiba Inu on June 9th, 2022.

Shiba Inu Price Prediction in 5 years

Shiba Inu is forecast to rise to 0.0000681 in 5 years that is 2027. That is nearly 6 times the price of Shiba Inu on June 9th, 2022.

Read: Will Shiba Inu reach 1 cent?

Will Shiba Inu Go up? In Conclusion

Yes, Shiba Inu will go back up once the overall cryptocurrency market rises. It is likely to outperform most cryptocurrencies except coins with a small market cap. In terms of utility, Shib trails Ethereum and Bitcoin but because of its Multifunctionality including wide acceptance in payments, Shibaverse and Shibswap, Shiba Inu is well placed to rise faster than most cryptocurrencies. However, its recovery will depend on the recovery of the cryptocurrency market itself which has been trending lower this year.

Caveats – This analysis is made on the basis of publicly available information at this point. A certain degree of volatility is expected in the cryptocurrency market for the next few months on the account of the Federal reserve’s decision to raise rates.

SHIBA INU – WHY IS IT UP? WHAT IS GOING ON SHIBA INU COIN HOLDERS?

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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.

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