Is SHIBA INU Going To The Moon?

Many cryptocurrency experts have predicted the Shiba Inus value for 2022, but these predictions should be taken with a pinch of salt, as they are far from guaranteed. The Coin Price Forecast Center expects Shiba INU to reach $0.0003182 by the middle of next year. However, it also expects the cryptocurrency to end the year at a higher level of $00.0003763.

The joking cryptocurrency modeled on a Japanese breed of dog Dogecoin reached a record low of $0.76 on 8 May before it improved to $6.8 and traded at $0.23 at press time. 

The surge in Dogecoins’ value came after Coinbase added the Shiba Inu cryptocurrency to its app, allowing more people to trade with it. Another cryptocurrency, Shiba INU, also saw a significant increase in the value of its cryptocurrency, outpacing the leading digital token to a market high of $4.38 on Tuesday, October 5, 2021.

As we have seen in recent weeks cryptocurrencies are extremely volatile and their value can change in a blink of an eye. The Financial Conduct Authority has warned people that cryptocurrency coins are a risky investment in the cryptocurrency market. The constant ups and downs show that the market is very volatile and can change quickly.

The price of Shiba Inu coins rose today (Thursday 28 October) at 4am UK time to a new record high of PS0.0000065, according to a meme. The value of the coins has increased by more than 50% since Sunday 24 October. The coin was influenced by Elon Musk’s tweet and his controversial comments about cryptocurrencies, which contributed to the rise and fall of the coin’s value. The negligible price of coins such as Shiba INU and Dogecoin makes it more likely that they will experience tougher ups and downs than major cryptocurrencies like Bitcoin, Shiba InU and Baby Doge, particularly Doge, as it has been heavily influenced by Musk’s tweets. 

The price of the meme-inspired cryptocurrency Shiba Inu (Shib) moved more than 20% in the past 24 hours and is trading at $0.000004715 at a time when its trading volume can keep pace with that of other top cryptos as the Shib whales continue to accumulate. According to Cryptocompare data, the price moved in the last three months by more than 600%, as a massive circulation supply aided by a trading frenzy faces significant symbolic losses. The cryptocurrency climbed to a record high at PS0.0003076 on Sunday, a jump of 50 percent.

At the beginning of November Floki (Shiba Inu: flokishib) began an aggressive marketing takeover in Europe and Dublin and refined its brand with results that show that Shiba dominates the market for old coins: the coin shot up 360% in the first week of October, with 72% of respondents choosing it as the number 28 cryptocurrency on the coin market, and the price of Shiba Inus (floki) shot up over 1,000 dollars. This coincided with Musk’s tweet that the biggest gain was 0%. 

Shiba Inu is a cryptocurrency token that allows users to hold trillions of them. It is one of the many dog-themed cryptocurrency tokens launched after the popularity of Dogecoin, a cryptocurrency created as a joke in 2013 that has grown in value among fans over the years and has since become one of the world’s leading tokens due to Elon Musk’s commitment to cryptocurrencies. The local cryptocurrency of the underlying protocol, Shiba Inu network, and Floki Inu are both cryptocurrency companies and call themselves the greatest meme coins since DogeCoin and Shiba Inu.

Shib investors are under constant threat of dilution, not only from other Shib tokens but also from a growing number of cryptocurrency projects. Considering that Ethereum co-founder Vitalik Buterin 90% of his Shib holdings burned by sending them to a dead blockchain address (more than 400 trillion tokens), too many tokens could be putting too many investors in the proverbial hands of too few investors to jeopardize the idea of Shiba Inu as a decentralized cryptocurrency. 

On Monday, Elon Musk tweeted that he had no other coins than DoE, Bitcoin, Ethereum, and Dogecoin in a small blow to Shiba investors. On October 27, billionaire Elon Musk, who has sometimes stressed his dependence on meme currencies, reiterated that his holdings are limited to Bitcoin, Ethereum, and Dogecoin, revealing that he has one of the most popular meme tokens, Shiba Inu. 

The Shiba Inu coin was created to become a popular alternative to large coins such as Bitcoin and Ethereum in 2020 and 2021, as well as a new continuation of the established meme coin Dogecoin. The meme, widely shared on the internet, inspired the cryptocurrency DogeCoin. 

The Shiba Inu Coin meme was inspired by Dogecoin and its price rise coincided with the record high of Bitcoin. A post posted on social media by Elon Musk saw Dogecoin’s market value rise, but it remains a way to achieve its goals. The Shib has experienced an astonishing rise and fall in the second half of the year, with fans gathering to inflate the value of the coins after hitting a record high in October. See Forbes Predictions.