Many market experts have put forward mixed predictions regarding the probability of Shiba Inu reaching $1.

At the time of publication, Shiba Inu is selling at $0.000013 after a pullback of 1.23% over the last 24hrs. As the currency is making such a move, there could be an opportunity for shorting if the price drops. If that happens, Shiba Inu's price might see a fall of 27% and drop to $0.0000093. Nevertheless, many market experts have put forward mixed predictions regarding the probability of SHIB reaching $1. Among them is Lark Davis who has claimed that SHIB will not reach $1.

Shiba Inu has the potential to reach US$1

Since the token showed its true growth potential, the financial media and SHIB have been rooting for the token to hit the US$1 mark. But currently, the journey to the US$1 mark is quite long, considering Shiba Inu's present market value is around US$0.00001302, according to coinmarketcap. But even after the downstream in its present value, the crypto continues to pose serious threats to the market dominance of Dogecoin.

SHIB was released on the Ethereum blockchain as an ERC-20 token with a total supply of one quadrillion coins. But as the project grew, the creators of Shiba Inu wanted to turn it into a full-fledged decentralized ecosystem and transfer 100% of the rights to the community to manage the protocol without a governing body. The token is available on several major exchanges, including Binance, Coinbase, FTX, and WazirX, to name a few. But its most convenient and popular success has been SHIB's acceptance in the Binance Exchange. The Shiba Inu ecosystem also holds a decentralized exchange called Shiba Swap, which was launched at the same time as the native SHIB token. Shiba Inu's popularity among crypto investors might impress some crypto investors, but its lack of real-world utilities might become a negative factor for several others.

Shiba Inu Price Prediction for 2022

The crypto domain started considering Shiba Inu as a worthy investment since the token was accepted for listing in the Binance exchange. The crypto witnessed its price skyrocketing exponentially last year, within a very short period. However, it did not succeed at keeping its position. But experts predict that mid-2022 might hold a different story for the SHIB token. Due to the increasing popularity of cryptocurrencies all over the world, SHIB may also catch the attention of investors looking for an affordable investment option. But studies reveal that as its price fell almost 60% compared to its all-time high, several investors are evading trading SHIB tokens. Nevertheless, several large 'whales' have recently purchased massive amounts of Shiba Inu coins which also indicates that their prices may rise in the future.