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Did you know that although it was only found last year, there are currently around 400 trillion Shiba Inu coins in circulation?
Shiba Inu gained a lot of traction in a very short amount of time which filled his pockets with decent earnings. Want to keep a little but hazy on future price movements?
Then you've come to the right place, as this piece of writing contains all the information you need.
cryptocurrency Shiba INU
SHIB Tokek
FUNDAMENTAL ANALYSIS ON SHIBA
Unlike the dogecoin, the Shiba Inu is powered by the Ethereum blockchain and is planning to introduce the dogecoin killer Bone shortly. It has its own logo as Shiba Inu, a hunting dog breed just like the dogecoin. Shiba Inu has its own cryptocurrency, the decentralized Shiba (SHIB) token, just like other cryptocurrencies.
Founded by an anonymous person, Ryoshi, SHIB has its value that exceeds that of Dogecoin. One of the main reasons for the upward trend of the Shiba token is that many popular Chinese investors are interested in this cryptocurrency. Prices are seen to skyrocket as several Chinese influencers are promoting it on various platforms.
Let's take a deeper insight into the fundamental analysis of the currency.
* The founder of Shiba Inu is still unknown and only the name "Ryoshi" is associated with him.
* The coin is named after the Japanese dog breed, Shiba Inu similar to the dogecoin. The platform and model are also similar to those of Dogecoin.
* The token price was seeing a significant increase, but on May 13 it dropped significantly.
* It fell to $ 0.000018, when Vitalik Buterin, a Russian organization, donated approximately 50 million Shiba tokens to India as a fund for the release of Covid Crypto.
* Fungible tokens use ERC-20 and non-fungible tokens use the ERC-721 token standards of the Ethereum platform.
* These tokens have nearly ten exchanges such as Shibaswap, Kucoin, and Binance.
* In India, WazriX is the best platform to exchange Shiba tokens. Currently, between $ 0.001417 and $ 0.001419 are traded here.
Also Read: Kusama Coin Prediction-Will KSM Price Rally in 2021?
Fun fact about Shiba Inu
Shiba Inu aims to replicate Dogecoin. Just like the way it was transformed from a meme coin into a money making machine. It also has the same logo as dogecoin and works with the same process. This is why it is commonly referred to as the Dogecoin Assassin.
SHIB Price Prediction for 2021
It is believed that the price of Shiba Inu will increase in the coming years. It is expected that by the end of 2021 the price will rise and reach $ 0.00002023, which is double the current price.
SHIB Price Prediction for 2022
Following the surge that will take place in 2021, the price of Shiba tokens is expected to increase further in 2022 as well. By the end of 2022, it could reach $ 0.00002230.
Price prediction for the next 5 years
The following years are also expected to see a rise in prices. The price is estimated to reach $ 0.00003106 by the end of 2025 and continue to rise. By the end of five years, it could reach $ 0.00003860.
Market forecast
Walletinvestor
According to their forecasts, the price will reach around $ 0.000030 by June 2021. They also believe that the price will rise further and by the end of the next five years around 0.000048 USD.
Digitalcoinprice
According to digitalcoinprice, Shiba Inu's price will not drop and will reach around $ 0.00004398 by the end of six years from now.
My prediction
Shiba Inu has seen a good uptrend and is expected to rise in the coming years as well. By the end of 2022, it could reach around $ 0.000022 and is expected to reach $ 0.000037 by the end of the next five years.
Also Read: Polygon (MATIC) Price Prediction, Will Price Be $ 5 By 2021?
Historical market sentiments
2020 and 2021
The coin was found in August 2020 and never saw the sizable price and remained negligible until April 2021. By April 20, it reached its first price of around $ 0.000009 and quickly rose to $ 0.000038 by April 20. on May 9, 2021. But recently, on May 13, it fell by about 40% and hit $ 0.000018.
Is it profitable to invest in Shiba Inu?
Yes, according to forecasts it is good to invest in Shiba tokens. The long-term earning potential is + 102.32% in one year.
What is the higher price of Shiba Inu in the future?
The highest price will be around $ 0.0000512 over the next few years.
Will SHIB's price reach one cent?
Considering the price movements and forecasts, the price could reach a penny in the future
Where can I buy SHIB tokens?
SHIB tokens can be purchased on major trading exchanges such as Binance, Okex, etc. And they can be traded on DEX like Uniswap.
It is not a financial advice but just my idea on this cryptocurrency, so I refrain from what you will do with my analyzes.
WHAT DO YOU THINK ABOUT SHIBA INU?
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