Investing in a meme corner in 2022? Shiba Inu prediction

Shiba Inu (SHIB), presentation

The Shiba inu takes its name from the Japanese dog breed of the same name. At the end of October 2021, its capitalisation had reached $37 billion, far exceeding the USD coin, a crypto-currency backed by the US dollar. It should also be noted that this crypto-currency was initially created on the basis of a parody. However, it is currently hot on the heels of Dogecoin in the global crypto-currency rankings. But what exactly is Shiba Inu? Why is the cryptocurrency so popular? How will it evolve over the next few years? Here are the answers!

Shiba Inu or SHIB is a cryptocurrency designed to compete with Dogecoin. In fact, this digital currency is nicknamed the "Dogecoin killer". It was created in August 2020 by a certain Ryoshi (who prefers to remain anonymous) as a joke. In its white paper, the project is presented as an experiment in community and decentralised construction. Its main objective is to go beyond the valuation of Dogecoin. This crypto-currency is also based on blockchain.

Although 1 SHB was worth just 0.00007007 dollars when it was first launched, in just 1 year of existence its stock market value has quickly exploded to reach 35 billion dollars. Ryoshi even claims that the digital currency has the capacity to outstrip Dogecoin exponentially.

This boom can be explained by the financial sector's interest in Shiba Inu. Indeed, major crypto-currency exchange platforms such as Binance, OKEx and Huobi have decided to add it to their catalogue. The digital currency is also particularly popular with Chinese traders, who are flocking to it. It is also promoted by many Chinese influencers on WeChat and Weibo.

How many SHIB tokens are there?

Given its very low unit price, you would expect there to be a significant number of SHIB tokens in circulation. In fact, its creators planned to put 1 billion tokens into circulation. However, 40% of these tokens have been withdrawn from the market and from circulation by the creator of the Ethereum protocol, Vitalik Buterin. As a result, there will be no more than 589 trillion SHIB tokens in circulation.

How does Shiba Inu work?

To understand how Shiba Inu works, you need to refer to its 'Woof Paper' (probably a pun on the word 'white paper'). This is available on the Shiba Token website. According to its Woof Paper, SHIB was created with the aim of setting up a crypto-currency project managed entirely by its community. According to its founder Ryoshi, collective decentralisation would be more efficient and allow a more solid project to be built compared to a centralised team. What's more, the project can draw on a ShibArmy base of over 500,000 members.

Shiba Inu is first and foremost an ERC-20 token based on Ethereum. It is created and hosted on the Ethereum blockchain. This choice is explained by the security offered by the Ethereum blockchain, while ensuring the decentralisation of the project.

Shiba Inu tokens

Three tokens make up theShiba Inu ecosystem: SHIB (Shipa Inu), LEASH (leash) and BONE (bone). You'll certainly notice the nod to the dog world.

Its ecosystem

The people behind this digital currency are playing up the dog theme. So, to stay in this universe, canine terms are used for its entire ecosystem. Apart from 'Woof Paper', other canine terms are also used to characterise the generation of returns from SHIB tokens.

On ShibaSwap, the tokens in question can be used in several ways:

• Dig – this term refers to the provision of cash ;
• Bury – here, bury refers to betting SHIB chips;
• Fetch – this involves exchanging one chip for another.

When tokens are used in these various strategies, they generate 'Woof' returns in the form of Bone tokens. These are then distributed to pools of tokens known as 'Puppy Pools'.

Where can I buy SHIB tokens?

SHIB is a very recent digital currency. As a result, it is not necessarily available on all the classic crypto-currency exchanges. However, in May 2021, Binance decided to add it. It is also available via eToro.

In China, it is also possible to buy SHIB tokens on exchanges such as OKEx and Huobi. However, the company responsible for Shiba Inu is currently developing the Shibaswap platform, which will make it easy tobuy or exchange SHIB tokens.

Buying SHIB tokens on Binance

To buy Shiba Inu tokens on Binance, all you need to do is open a Binance account and fill in all the information requested. Then check your identity. Don't worry, this only takes a few minutes. You will need to provide proof of address and an identity document. After a few hours, your account will be active.

You will then be able to buy SHIB tokens by credit card. To do this, go to the "Buy cryptos" section of your Binance account. Then click on 'Credit/debit card'. You will then be redirected to the Binance interface, where you can buy SHIB tokens in the currency of your choice.

The next step is to select the amount you wish to invest and select "SHIB". The platform will then ask for your card details and you can confirm the payment. Once the purchase has been confirmed, your tokens will appear in your wallet.

Buying SHIB tokens on Coinbase

You should be aware that this platform does not allow you to buy Shiba Inu directly. To do this, you need to start by buying Ethers (ETH) or Bitcoins (BTC). Rest assured, this platform accepts credit cards. Next, you need to exchange the ETH or BTC you've bought for SHIB on exchange platforms that offer ETH/SHIB or BTC/SHIB pairs. You can do this on Coinbase Exchange.

SHIB 2022 forecast

For 2022, most websites specialising in analysing the price of digital currencies expect the price of the Shiba Inu to rise. The specialists at Priceprediction.net are forecasting a minimum price of $0.00007454 and a maximum price of $0.00009277, with an average price of $0.00007727 for next year.

Experts at changelly.com predict that the SHIB price will continue to rise in the first quarter of 2022. The token would start the year at $0.0000545552. It would rise slightly over the following months, reaching $0.00006069 in June 2022. After that, analysts expect the price of Shiba Inu to fall until the end of the year. It would then end 2022 at $0.00005374 per token.

However, analysts at investirmag.fr expect the price of the SHIB token to fall. The price will fall to $0.00000636 at the start of the year. It will then rise slightly throughout the year, reaching $0.0001706 in December.

Shiba Inu 2023 forecast

Forecasts for the 2023 Shiba Inu price are mostly optimistic. Indeed, analysts are predicting a continued rise in the cryptocurrency's price. According to changelly.com, the token will reach $0.000089 – $0.000100 by mid-year. After that, it will rise slightly and end 2023 at $0.000130.

According to priceprediction.net, the SHIB will fluctuate between $0.000109 and $0.000128 in 2023. The average token would trade at $0.000112.

According to investmag.fr, 2023 will see a fall in the price of the Shiba Inu. The digital currency is expected to start the year at $0.000170, rise to $0.000180 in April and then fall to $0.0000202 in August 2023.

SHIB 2025 forecast

According to forecasts by investirmag.fr, the year 2025 will be marked by fluctuations in the SHIB price. In January of that year, the token will be trading at $0.000405, falling to $0.000352 in July before rising steadily. The SHIB will then end the year at $0.000441.

Analysts at priceprediction.net forecast that the SHIB will be worth between $0.000239 and $0.000282 in 2025. Its average price will be $0.000246.

SHIB 2030 forecast

According to forecasts, the Shiba Inu will continue to rise in value between now and 2030. According to investirmag.fr, the token will trade at $0.000775 in January 2030. With a slight upward trend, the token would reach $0.000963 in December.

According to priceprediction.net, the increase in the price of SHIB will be more significant in 2030. The site's analysts predict a token price of between $0.001 and $0.002, with an average price of $0.002.

Is this cryptocurrency a good investment?

Investing in cryptocurrencies always involves risks. These mainly relate to their volatility, but also to the lack of regulation. Shiba Inu is no exception to this rule. As well as being extremely volatile, the SHIB is also exposed to significant downside given its recent gains.

Apart from that, the usefulness of this digital currency is very limited. So before investing, you need to weigh up the pros and cons carefully. Of course, when deciding whether or not to invest in the SHIB, it is important to base your decision on the objectives you wish to achieve. Finally, remember that the value of this cryptocurrency is essentially based on a speculative frenzy. This is fuelled mainly by influencers and social media.