Published May 17, 2022
The year 2020 was a great year for meme coins and a lot of new crypto millionaires grew. Most of those made investments in the SHIBA INU token. So far, the proclaimed DOGECOIN killer has matured into a stable and reliable project with practical use cases.
Firstly, the SHIB coin has been in a bullish trajectory since creation, and all through 2021 only experiencing short-term corrections. However, the recent bearish outlook across the crypto market gives many concerns. As to if they should hold on to their stash of SHIBs or even buy more.
Many will like to know what the future holds for the SHIB token Price in 2022 and in five years. Well, look to know further. In this post, we’ll cover all the details you need to know about the SHIB Inu coin price predictions, trading ranges, and profit targets when trading the SHIB token for a long-term holding.
Shiba Inu token (SHIB) is a token that is also known as the Dogecoin killer. It was made in August 2020 by an unnamed person or group known as Ryoshi.
It was said that the token SHIB is also known after a breed of dog which belongs to the Japanese called Shiba Inu. Those dogs originated from the Chubu region.
Research shows that the co-founder of Ethereum, Vitalik Buterin, is one of the people with “whale” wallets who controls Shiba Inu token worth billions of Dollars. He is said to own Shiba Inu worth $15 billion. He is one of the people who influenced the buying decisions of other retail investors who are motivated by FOMO (Fear of Missing Out).
This shows that Shiba Inu is a very good token that’s worth investing your money in, & it has a lot of prospects.
As stated earlier, it’s no news that there are different types of tokens and coins in the Cryptocurrency market. Research shows that the world’s cryptocurrency market value estimates to be #1.49 billion as of 2020. It’s predicted to have increased to about $4.94 billion by 2030. This shows that the market also predicts to grow at a Compound Annual Growth Rate (CAGR) of 12.8% from 2021 to 2030.
With this, it’s safe to say that competition between tokens and coins is inevitable in the Cryptocurrency market. However, the project managers of Shiba Inu need to pay attention to every necessary detail and work on them to help the token get more recognition. According to research, the current market capitalization of Shiba Inu is 12.681 billion. This shows that there are enough Shiba Inu in Circulation.
The Token was originally made to be a digital exchange asset or currency that is to directly compete with Dogecoin. That’s why it was also called the “Dogecoin killer“. Moreover, Shiba Inu and Dogecoin are both categorized as Memecoins.
According to recent research, On token distribution, 50% out of the 1 quadrillion token was locked in Uniswap by Ryoshi which has now become the permanent base of SHIB liquidity. The remaining 50% was transferred to Vitalik Buterin.
The SHIB coin has been setting higher highs and higher lows since its inception. The same as shown on the monthly chart snippet of the SHIBUSDT above. An increase in selling pressure since a breakdown of the bearish closing inside bar support (0.00003562) on 01 December ’21 suggests a start of the current correction wave.
However, the famous meme coin will likely find support within the $0.00000943 and $0.00000507. The support zone as buyers have already started to build up positions within the price zone.
Upon bouncing off our estimated price range ($0.00000943 and $0.00000507) this year, we are optimistic that the SHIBUSDT coin would attract a surge in demand which would then force the price into a bullish trajectory, towards the $0.00008368 (target 1), which aligns with the Fibonacci extension level when considering the May ’21 high and low as a swing high and swing low levels.
Following our analysis for 2022, we expect the SHIB price to resume its bullish campaign to $0.000253 (target 2), and $0.000862 (target 3), as they align with the 1.618, and 2.0 Fibonacci levels respectively considering the May ’21 high and low as a swing high and swing low levels.
A sound practice would be to dollar-cost average into the spot SHIB coin as the prices are now at a discount following the current price plunge across the crypto market.
The probability of seeing a price surge in the coming year is high.
Shiba Inu is a token taken by real-life projects and a great future ahead. The current market situation might be discouraging, but with the plans and structures being put in place by the pioneers, product managers, and developers, without a doubt Shiba Inu will be a well-known token accepted globally for digital exchange in the next 5 years.
The ShibaSwap crypto exchange is growing rapidly and would attract more market share in the next 5years where we project the SHIB token price to target the $0.00206255 (Fib – 2.272) and $0.154 (Fib – 3.618) price levels.
The main competitor of Shiba Inu is Dogecoin. They are both digital assets and digital exchange currencies which are accepted as payment by some notable organizations around the world.
Even though they have similarities, there are differences between them. Other than the difference in their year of launch, Dogecoin was developed in 2013 while Shiba Inu was developed in 2020, Dogecoin has a market capitalization which is approximately $12 billion at press time while Shiba Inu has $7.3 billion market capitalization.
Also, Dogecoin was created as a joke about Bitcoin before people started to take it seriously, thanks to memes and Elon Musk tweets. Meanwhile, Shiba Inu was created as a token to be used as a medium of digital exchange alongside other cool projects.
Shiba Inu token experienced exponential growth of over 300% within a month in October 2021. This pump made it outgrow its major competitor—Dogecoin which was still struggling with its growth back then and even presently. Research shows that the SHIB coin was one of the most traded coins by traders in October 2021 with almost the same amount of trading volume as Ethereum.
The famous crypto prediction platform (wallet investor) projects the price of SHIB token to be at $0.000133 by 08-05-2027. According to the website, a $100 investment on 14-05-2022 could yield a +915.27% profit, which could sum up to $1015.27 in 2027.
Following the SHIBUSDT historical price, the coinarbitragebot experts predict a $0.000027 SHIB by the end of 2022, and three years projected price at $0.000159 with a lowest three-year price at $0.00000486.Furthermore, the prediction platform projects $0.000044 for the price of SHIB by the end of 2023, $0.000071 as the closing price of 2024, and $0.000115 as the closing price for 2025.
Analysts at DigitalCoinPrice predict that the Shiba Inu price could break above $0.0000204 resistance and sustain an uptrend in 2023. However, the lowest SHIB price for 2023 estimates to be $0.0000173, therefore trading within the range. They went ahead to project the SHIB price to attain the $0.0000308 price level by 2027 after starting in 2024 at $0.0000161.
The analysts at longforecast predict a 16.1% bullish price hike for the SHIB token in September 2022, after a series of price declines from May through August 2022.They went on to predict an end to the impending crypto winter in 2023 where the SHIB token starts a bullish campaign up to 16% by the end of January 2023, starting from $0.00000450 and a maximum price at $0.00000559.
Q: What Is The Value Of Shiba Inu?
According to Coinmarketcap, the price of Shiba Inu has a floor price of 0.0000002196 at the time of writing this down.
Q: Is It Safe to Invest In Shiba Inu?
Just like every other digital currency, Shiba Inu is also volatile and risky to invest in. However, it’s a token with great prospects and is Safe to invest in.
Q: What is the best technical tool to time SHIB reversals in a downtrend?
Following the token’s historical data, regular and hidden bullish divergence setups have proved to be very reliable for timing trend reversal and continuation of the SHIBUSDT.
Q: What is DCA and how can I apply it to trading SHIB?
DCA is a money management technique that stands for dollar-cost averaging.Also you can split a $1000 investment into SHIB over four-month by buying $250 worth of SHIB every month. It’s safer and yields better profits compared to buying $1000 worth of SHIB today if that’s all you’ve got to invest.
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