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Shiba Inu Coin (SHIB) is a decentralised crypto coin that was launched in August 2020 by the anonymous developer, "Ryoshi." It was created after the very popular "Doge" meme. Shiba Inu, the "Dogecoin Killer," saw the daylight inspired by its resemblance to the Shiba Inu breed of dogs.
The Shiba Inu Coin was launched in August 2020 to develop a decentralized, community-driven cryptocurrency. The creator of this coin, Ryoshi, said that nobody or no organization owns SHIB and that is its attraction as a community-governed project.
A combination of its meme-inspired origin and celebrity endorsement made SHIB attract millions of followers.
Interest has been further piqued by Elon Musk's occasionally tweeting about Shiba Inu and other meme coins. Attention was drawn to SHIB also when the co-founder of Ethereum, Vitalik Buterin, received half of the total SHIB supply. He later donated a large portion to charity, which drew even more attention to the coin and its mission.
An internet-born coin tapped with a cute dog mascot as well as the appeal of low-cost, high-supply tokens, held big stacks for the smallest investors. Thus, building a brand appealing to both casual as well as serious investors.
In 2021, the Shiba Inu team released a decentralized exchange called Shibaswap. It is specifically dedicated to SHIB and other tokens in the Shiba Inu ecosystem. Thus, users can trade and stake their SHIB, as well as provide liquidity for it. The decentralised exchange has helped Shiba Inu gain a spot in the DeFi sector by attracting investors searching for flexibility and security.
As of November 5, 2024, SHIB stands at US$0.000018 and has a market cap that reached US$10.36 billion. It rose to an increase of +4.94% within 24 hours while showing a volume of 383.09 million over its previous 24 hours' time duration. The analysts who reviewed it and even in communities vary in thoughts. They predict a rather generalized bull trend for this project in the upcoming months.
For the following days and weeks, SHIB is expected to be at the level of $0.000018. The stability level reveals that this cryptocurrency is flourishing and coming of age, from the perspective of a long-term investor. For the next 30 days, SHIB can continue its journey to reach the projected levels that were predicted by analysts, that is, at $0.000018. The coin may experience an up-and-down movement based on market sentiments as well as the prevailing situations at the time.
For 2025, volatility is predicted in SHIB, and the price can be anywhere from US$0.0000144 up to US$0.0000499. This may not be a good time to invest as the coin will fluctuate in price, linked with the bigger market fluctuations.
SHIB price by 2026 will be within the range of US$0.000095 to US$0.00010 pegged on an expected meme coin rally. If the crypto market decides to go for a bull run, then SHIB can shoot into the moon with its robust community and popularity.
Shiba Inu can reach up to US$0.000024 by 2030, with some analysts suggesting a short-term high value for the same, of US$0.000144. This cryptocurrency might continue to be popular and engaged in niche communities, with extreme price volatility at times.
Speculation in the community remains rife on whether SHIB will ever hit US$0.001 or even US$0.01 after 2030. However, with its massive circulating supply of 589 trillion tokens, it is highly unlikely to hit US$1, let alone US$10. Even at US$0.01, much supply reduction or change in market dynamics would be necessary for SHIB.
Shiba Inu Coin remains one of the leading dogs in the meme coin market due to its lively community and its influence support. While showing significant potential for rising prices, SHIB investment should be well-timed and with precaution. Investors should remember that such a coin also shows natural volatility and questionable long-term value.
The Shiba Inu journey, from merely being the coin inspired by the memes, to what we now regard as a widely known cryptocurrency, is a testament to resilience. Whether this will mean a niche spot for SHIB under constant changes remains to be seen in the upcoming years.
