The 1 Million Dollar Question: Can Shiba Inu's Price Continue to Soar?

By Adrian Castaneda | disruptive_tech | 1 Nov 2021

SHIBA has soared more than 800% in the last month. Having reached over 1,000% at its peak a couple of days ago. And the 1 Million question is:
Can Shiba Inu's price continue to soar? The answer is yes.

Fundamentally speaking, there is no reason why Shiba Inu (SHIB) should increase in value as it continues to be a "meme coin" which, in theory, does not have a significant use or contribution to the financial system as such. However, there are several factors that could justify Shiba's current price and potentially help the coin 5x, 10x or even 20x in the near future.

When we talk about cryptocurrencies and also stocks, market sentiment (which is basically the perception people have about an asset) has great influence on the movement of the price of an asset, mainly in the short term. And Shiba Inu is no exception.

There is great hype, rising public interest and expectation for what this coin can do in the upcoming days, weeks and even months. Also, many investors are betting on huge returns when investing in Shiba. And although this is often based on pure speculation, it is not so unreasonable (or is it?) to think that you can take advantage of this catalyst to multiply your investment.

Which brings us to the next and most important point of why I believe Shiba can still at least 10x from where it's currently trading at as of today October 31st, 2021 despite having soared by over 800% in the last month and now being the 9th largest cryptocurrency by market capitalization. 



An important factor, and perhaps the most important of all, to justify an increase in the Shiba (SHIB) valuation is the narrative behind the coin, in other words what people say and believe about it regardless of the real value it can bring to the financial world as I said earlier. As well as the broad community support, it is well known that many people support and believe in the project and its growth. Thousands, if not millions are loyal to this currency: the so-called "Shiba Army" give massive support to this coin. And just like DOGE at the time, today SHIB has many people supporting this project, which adds extrinsic value to this meme coin.

Other factors to take into account when building the case that Shiba still has a long way to go are the news that is being constructed around SHIBA, news from the mass media channels such as television networks, news outlets and social networks such as tweets from well known people, which causes increasing interest from the community. The more the price grows, the more mainstream media pays attention to the project which serves as another catalyst that can help case of SHIBA to continue its trip to the moon or as many others say its trip "to Mars".

Adding Shiba to many globally recognized exchanges, such as Coinbase, Binance,, KuCoin and UniSwap to name a few, simplifies the process to open new positions from retail investors which brings more transaction liquidity, increases Shiba's market cap (which ranks 10th at the time of editing this article) and allows massification of this coin. Ad the same time, the factors mentioned above increases the demand for Shiba, and as we all know, the price of any asset tends to be positively related to its demand; In other words, the higher the demand, the higher the price of SHIBA.

To set an example, CoinBase, which is the most popular crypto exchange in the United States and where billions of dollars are traded daily, Shiba (SHIB) took more than 29% of all trading volume on October 28th.



And Shiba has continued to account for a great portion of all trading volume all across the board. Today, October 31st.

Shiba trading volume ranks

  • Coinbase: Trading rank: 2nd; 14.78% of all volume traded.
  • Binance: Trading Rank: 2nd, 7.84% of all trading volume.
  • KuCoin: Trading Rank: 2nd; 5.97% of all trading volume. 
  • Trading Rank: 5th; 4.74% of all trading volume. 
  • UniSwap: Trading Rank: 6th; 3.93% of all trading volume. 

And last but not least, the burn of tokens that are being carried out gradually by some investors in an effort to increase the scarcity of the currency could also contribute to the rise in the price of SHIBA.

If we add up all these catalysts, we can have the perfect formula to see the price of SHIBA rise by 500%, 1000% or even 2000% in the next few weeks.

However, we must take something into account, the astronomical growth of SHIBA will probably be short-lived, and although is it unlikely it will go back to the levels we saw it trading at before September, it might rise to then fall drastically as it happened with rival meme coin Dogecoin (DOGE). This could incur in big losses for many if they enter at the wrong time or do not have an exit strategy that allows them to sell at the right time before the bubble bursts (if it bursts) as we are talking about a highly VOLATILE and SPECULATIVE currency.

In my opinion, the best thing that one can do when investing in a speculative asset is to measure its risk and have an exit plan even before buying in in any speculative asset and follow it through.

The idea of ​​smart investing is to grow consistently but also to preserve our capital since it is the tool and vehicle that will help us achieve our financial freedom. So inform and study each investment you make, and ALWAYS invest responsibly.


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Adrian Castaneda
Adrian Castaneda

In the Crypto journey - Westfield State University Long-Term Stock Market Investor


Here I will be sharing my thoughts and findings about disruptive technologies as well as technologies I find relevant for the near and far future. Enjoy the ride and stay up to date.

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