Shiba Inu Coin 2022: Will Shiba Inu Reach 1 Cent in 2022?
|Will Shiba Inu Reach 1 Cent in 2022? There are many ways in which SHIB can reach 1 cent but the chances of this happening in 2022 are diminishing by the day given the macroeconomic conditions.|
- Shiba Inu Coin Price
- Shiba Inu: Technical Recommendation
- Current predictions of Shiba Inu 2022-25
- Will Shiba Inu Reach 1 Cent: Last One Year Rise and the Responsible Factors
- Google Search Trends for Shiba Inu in 2022
- What can cause Shiba Inu to rise to 1 cent?
- Will Shiba Inu Reach 1 cent? A Detailed Explanation
- Will Shiba Inu Reach 1 Cent: Conclusion
- Why Shiba Inu Should be Part of Your Long-Term Investment?
- How Lack of Long-Term Shib Holders have halted the Rise of Shiba Inu?
- Shiba Inu Price Prediction: What Lies Ahead for SHIB in 2022 and Further
- Shiba Inu Frequently Asked Questions
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Shiba Inu Coin Price
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. So can Shiba Inu reach 1 cent in 2022?
Shiba Inu Performance 2022
The overall crypto market is trading negatively once again. Almost all the major cryptos are down. In the last 24 hours, the overall crypto market cap is down by over 2%. The total crypto market volume is over 10% lower.
SHIB is trading negatively for the last few hours. SHIB is now the 16th ranked cryptocurrency in terms of market cap. In the last 24 hours, the overall market cap of Shiba Inu is down by over 2% and the trading volume of SHIB has crashed in the last few hours. In the last 24 hours, there has been a decline of over 20% in the trading volume of Shiba Inu.
The overall momentum of SHIB in the last 24 hours has been bearish. SHIB’s price remains below $0.000015 and with the current momentum, it is unlikely to breach $0.000015 in the next 24 hours.
SHIB 24 Hours Chart
Last 5 Days
Shiba Inu: Technical Recommendation
Current predictions of Shiba Inu 2022-25
Shiba Inu Price Prediction 2022 has been revised lower to 0.0000261
Shiba Inu Price Prediction 2025 has been revised lower to 0.0000414
Will Shiba Inu Reach 1 Cent: Last One Year Rise and the Responsible Factors
On Paper, Shiba Inu has risen 403x in the last year. There are various factors which are listed below:
- The Shiba Inu came into the limelight since its launch as investors were looking for the next bitcoin (BTC) to invest in, but the real push was in May when it rose 2405% in just a span of three days and hit a fresh peak of $0.0000388 on 10th May. The rally was primarily due to an interview of Elon Musk where he termed DOGE as a “hustle”, which triggered a sell-off in DOGE and fresh buying in SHIB.
- The prices of meme tokens are so reactive to Elon Musk’s tweets that they jumped after the Tesla CEO tweeted a photo of a Shiba Inu puppy in a Tesla vehicle on 4th October. Other similar currencies like Dogecoin and Shiba Floki (FLOKI) had met a similar fate.
- In late November, a couple of positive news like a listing on the Kraken exchange and an announcement by e-commerce retailer Newegg that it will accept SHIB as payment buoyed the price. Another positive factor is the appointment of gaming veteran William Volk.
- On 8th December, Shiba Inu revealed that a strategic work-for-hire contract is signed with Playside, the Australian video game developer. The plan is to develop a multiplayer Collectable card game. Luckily, on the same day of exchange Bitstamp announced to list SHIB, the following day on its platform. These factors contributed to taking the upside of the price.
Google Search Trends for Shiba Inu in 2022
Google search volume for Shiba Inu is higher in the last 24 hours. [Please move the cursor on the chart to see the latest interest levels and compare them with 24 hours ago]
What can cause Shiba Inu to rise to 1 cent?
- Shiba Inu Burn: Burn involves sending coins to a ‘dead’ wallet
A large number of Shib tokens need to be burned to reduce the Tokens in Circulation. In theory, this should increase the value of each remaining coin. Every day several million coins are burned but the burn rate is very low. On the 14th of February, a burn party was organized to burn millions of Shib Tokens.
While Burn alone is not enough, such events sustain the interest of investors Shiba Inu. There are $ 549063 billion SHIB Coins in circulation at the moment.
Shiba Inu is likely to launch a Burn Portal to speed up the process of Burn.
2. Price rise on account of numerous Shiba Inu innovations
Shiba Inu has launched numerous innovations
- Shibverse (A Metaverse)
Important: In order to participate in this early access event, you must have $LEASH or SHIBOSHI locked and utilize the locking system.
- Payments in places like AMC
- 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. Shibarium would be a layer 2 solution like Matic which means that while it would still be using Ethereum as Layer 1, transaction speeds and Gas revenues will give a big leg up Shiba Inu.
Will Shiba Inu Reach 1 cent? A Detailed Explanation
Shiba Inu will reach 1 cent only if Trillions of Shiba Inu Coins are Burnt and Shiba Inu will be able to execute its plans around Shibarium, Shibverse, etc.
There are other challenges –
- At $0.01 value, the market cap of Shiba Inu will be roughly $5.89 trillion, which is approximately 10 times more than Ethereum itself, on whose blockchain it is dependent. The market cap will 3 times more than Apple (AAPL) and 5 times more than Tesla (TSLA), 10 times more than Bitcoin.
- If Shiba Inu reaches 1 cent valuation with a market cap of $5.89 trillion, it will be more than what US government raises in annual taxation ($4 trillion). As SHIB is based on Ethereum ERC20, it does not make sense that Shiba Inu’s market cap can surpass Ether’s market cap. To meet the $0.01 target, a significant number of SHIB coins will have to be burnt.
- Cryptocurrencies like Bitcoin and Dogecoin have their independent blockchain and are standalone currencies, they have a mining system, backed by thousands of mining computers that are keeping the system alive and running. But SHIB is an ERC 20 token-based cryptocurrency similar to Binance Coin and Tether. So SHIB token is not offering anything new to investors to push its market cap to such huge levels.
- Companies like Apple, Tesla, and Google are precious companies making excellent products that are unanimously liked by customers and that is why they are trillion-dollar companies. SHIB does not create any product and it is only a currency backed by a community therefore it does not have any inherent value in the long term.
- From the technical perspective, Shiba Inu is gathering momentum and investors are adopting a “buy on dip” strategy. But various others are sceptical about the progress of the project. Geoff Lewis, the founder of Bedrock Capital went on to compare the SHIB saga to Pets.com, one of the biggest failures of the dot com bubble reported at that time.
Will Shiba Inu Reach 1 Cent: Conclusion
Currently, Shiba Inu is at a very important level and it could see a major upward or downward movement in 2022. The positive factor behind Shiba Inu is strong community support and at present nearly 50% of the shareholders are in the money and more than 75% of them are considered to be large holders, therefore it can be concluded that recent sell-off is only seasonal and bulls will come back stronger any time soon.
Also, it should be kept in mind that Shiba Inu’s market cap is much smaller than Bitcoin and Ethereum and that makes it much more volatile if it has witnessed a steep sell-off in the last couple of weeks, upside potential is also similar and it is a matter of time before Shiba Inu will march towards an all-time high. But for all practical purposes, investors should not be disillusioned that Shiba Inu will touch 1 cent.
Why Shiba Inu Should be Part of Your Long-Term Investment?
The lack of long-term Shib token holders has been a major roadblock in rising of Shib Inu’s price. Shiba Inu is down by over 30% this year, yet it is advisable to have Shiba Inu as a part of long-term investment. Here are a few reasons:
- Shiba Inu has failed to make much progress this year and the price has remained slightly over $0.00002 for the most part of the year. However, one should not ignore the historical data of Shiba Inu, In 2021, Shiba Inu soared by a whopping 45,000,000%. The ongoing situation may not be favorable for rising of Shib Inu but one cannot ignore the fact that once the situation improves, investors may once again flock to buying Shib tokens.
- Increasing trust in the Shiba Inu ecosystem can also be considered as one reason why Shiba should be part of long-term investment. There has been news of Ethereum whales purchasing Shiba Inu tokens in bulk. Whales are the ones who own a great deal of cryptocurrency. If the ETH whales are shifting to Shiba Inu, it is evidence of increasing trust for the Shiba Inu ecosystem. The fact that Shib Inu developers are transforming Shiba Inu into more than a “Meme Token” is attracting the big whales towards it. This year Shiba Inu is believed to be launching launch a layer-2 scaling solution and also entering the world of the metaverse.
- The growing acceptance of the Shiba Inu token as a mode of payment can be considered as the other reason why one should have a Shib token in their crypto wallet for the long term. Recently AMC theatres allowed its customers to make payments using Shiba Inu. Added to it there are new of Turkey considering Shiba Inu as a mode of payment in their country.
How Lack of Long-Term Shib Holders have halted the Rise of Shiba Inu?
The Shib Army along with different independent organizations have been putting an effort to burn a large number of Shib tokens. However, their effort is proving to be insufficient as there has been very little change in price after every burn.
The main reason behind this lack of a good number of long-term Shib holders. As per the data by IntoTheBlock 95% of Shib holders are within a 1-12 months time frame while 5% of the SHIB holders are less than 1 month old. There is almost no SHIB holder older than 1 year as of now as per the data.
If we talk about Bitcoin, around 58% of the holders are older than 1 year while 35% are within 1-12 months time frame.
Shiba Inu Price Prediction: What Lies Ahead for SHIB in 2022 and Further
- Shiba is an altcoin, implying that a strong community is requisite for the success of Shiba. Fortunately for the Shiba ecosystem, it is backed by a strong community and it had 43 more million views than Bitcoin in 2021. For Shiba Inu to rise again and achieve all-time high, it is imperative that it is backed by the bulls of this community.
- But recently, Shiba Inu founder Ryoshi wrote that he is feeling bit scared that people will stop trading Shiba Inu if it is removed from the Ethereum blockchain. However, with every transaction costing over $9 on this blockchain, it makes very little sense to continue trading on the Ethereum blockchain.
- Also, Shiba Inu faces stiff resistance from new projects such as EverGrow, a project with strong fundamentals and a strong team and much cheaper valuations of $500 million approx. as compared to $15.3 million market cap of Shiba Inu
- So, Shiba has many positives but it faces a risky year ahead as valuations are too high and the introduction of an independent blockchain poses an obstacle that needs to be tackled carefully.
Shiba Inu Frequently Asked Questions
How long will it take Shiba Inu to reach 1 Cent?
With the current market supply for Shiba Inu to reach 1 cent, it is slightly impossible. The only way Shiba Inu’s price could reach 1 cent is by transferring trillions of Shib tokens to dead wallets that is by putting the billion of Shib tokens out of circulation. The Shib Army along with multiple organizations have been burning billions of Shib tokens but the rate of burn is very less. Therefore, for Shiba to reach 1 cent, the definite time cannot be ascertained.
Can Shiba Inu Reach 1 Cent In 2025?
Shiba reaching 1 cent in the future could become reality if and only trillions of Shib tokens are and there are maximum long-term holders. Currently, there are less than 1% of holders have had Shib tokens in their portfolio for more than a year.
Therefore, for the Shiba Inu token to reach 1 cent in 2025 it needs to be backed by a highly committed eco-system.
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.