Shiba Inu traders are congratulating themselves as their favorite meme coin reached new heights. The rise has been continuing for the entire weekend, and SHIB has hit a new high. The Shiba Inu price has gone up 43 percent to 0.00004127 in the last 20 days, while transaction volume has increased by more than 950 percent to $12 billion. On the last day, SHIB reached a high of 0.00004442.
According to several social media sites, Shiba Inu, a derivative of Dogecoin, the original joke coin, is trending on Twitter in two dozen countries. Fans of SHIB believe the crypto, which has climbed to No. 12 in the CoinMarketCap rankings, is on its way to exchanging for one cent or more.
SHIB – Supply & Demand
The current circulating supply of Shiba Inu is 394.7 trillion. Some holders want the token to burn additional tokens to reduce the supply, while others believe that prospective investors would suffice. Shiba Inu signed a deal with NowPayments earlier in the month to destroy a portion of SHIB with each trade.
SHIB investors are hopeful that online broker Robinhood would help them reach their one-cent objective by listing the meme coin. To make this a reality, there is a petition on Change.org with 298,000 votes and growing.
SHIB Bull Run in October 2021
In addition to reaching a new all-time high, Shiba Inu has benefited from several catalysts and milestones in October. For example, the project's Twitter followers have surpassed one million. In addition, the SHIB token now has more than 760,000 holders. Users of the trading portal Public.com can now trade Shiba Inu. SHIB has also been launched at Coin Cloud's crypto ATMs, making it easier for customers to obtain Shiba Inu.
In recent months, Elon Musk has influenced Shiba Inu by tweeting news on his Shiba Inu dog, Floki. Musk is a supporter of Dogecoin, whose mascot is a Japanese purebred dog named Shiba.
Price Analysis
In August 2020, Shiba Inu decided to go public. SHIB was about $0.0000000005 at the moment, but it quickly dropped and remained at that low level throughout 2020.
When BTC started a bull trend in the market in 2021, the price rose, mainly owing to the BTC split in 2020. SHIB's price began to rise rapidly, reaching a peak of $0.00003 in the process. Following that, the price dropped to roughly $0.000006, where it stayed until November of this year.
Afterward, SHIB began one of its most significant bull runs to date, reaching $0.00008 in less than a month. It even climbed into the top ten market rankings, surpassing Dogecoin in terms of market cap.
SHIB's market cap is over $31 billion, based on its current price and circulating supply
of around 590 trillion, putting it in the 10th position in the crypto industry. The market capitalization is estimated to be around $33 billion.
SHIB's Future – Market Price Predictions
Despite making the highest ten rankings, many respectable experts expect that SHIB will continue to rise in the short and long term, showing that the Shiba Inu is far from finished.
SHIB is expected to rise in the coming weeks, maybe reaching a new high before the conclusion of the year, according to Wallet Investor. They also believe that by 2022, SHIB will be worth $0.0001. In the long run, they believe SHIB will expand by more than 200 percent.
SHIB is expected to rise in value in the following weeks, according to Digital Coin Price. They also anticipate that in 2021, SHIB will break the $0.0001 barrier for the first time.
According to a new YouTube Cryptocurrency Investing video, SHIB might eventually reach $0.10. This claim is based on Robert, an entrepreneur and best-selling author of Rich Dad, Poor Dad, who recently stated that possessing 10 million SHIB can turn someone into a billionaire. This means that the price of SHIB might be as low as $0.10.
This assumption is based on Kiyosaki's prediction of a stock market meltdown earlier this year. According to him, the market meltdown may be the perfect time for users to invest. In a previous Crypto Investing video, it was stated that SHIB would soon be accepted by Mastercard, making the $0.10 projection more realistic.
SHIB Price Prediction (2022)
Before the end of the year, Shiba Inu could make another push upward, and it could hit $0.0001 very soon. SHIB may reach a high of $0.0003 in 2022. This would imply a market capitalization of about $160 billion. The US currency may depreciate, and SHIB may become globally interconnected.
SHIB Price Prediction (2023)
SHIB may be less bullish in 2023, although it may remain above $0.0001. However, it is unlikely to cost more than $0.0004. As blockchain technology replaces traditional financial services, cryptocurrencies may become much more essential than they are now.
SHIB Price Prediction (2024)
SHIB may be stable throughout the year in 2024. Nonetheless, before the end of the year, the 2024 BTC halving could kickstart a new positive trend in the market. SHIB might be worth as little as $0.001.
SHIB Price Prediction (2025)
SHIB's bullish character is expected to continue in the first quarter of 2025, with the price expected to climb to $0.005. This value is 100 times higher than SHIB's current price, suggesting that, other things being equal, SHIB may enter the top 5 ranks.
SHIB Price Prediction (2026)
Finally, once ShibArmy hits its maximum number of supporters and more organizational money is directed to community-driven coins like Shiba Inu, the price of SHIB may approach $0.01. We can't rule out the prospect of more tokens being burnt because it's society-driven. Some meme-based coins may not make it this far, but SHIB appears to be one of the most viable.
Should You Buy Shiba?
According to our analysis of Shiba Inu price forecasts, it could be an excellent investment. For the next few years, the growth potential is more significant than 100%. Nevertheless, because the token's real-world value has yet to be demonstrated, it's best to buy Shiba Inu in small increments.
Keep in mind that the Shiba Inu coin information is provided solely for educational reasons. Knowing an estimated SHIB price is helpful, but you must conduct your pricing analysis like with any coin. Always do your research before making any investment decisions, in addition to looking at the Shiba forecast.
