The cryptocurrency market is at the stage of active formation and it is extremely difficult to predict changes in the price of digital assets. In particular, it is more sensitive to psychological factors than is typical for established markets. This feature makes forecasting very difficult, especially when it comes to the long-term prospects of a particular coin.
Shiba Inu meme coin
By itself, the fact of the appearance of meme-coins can hardly be considered unique. But their success is the best illustration of the potential of psychological factors. The Shiba Inu coin was created in 2020 as a parody of DOGE, the first meme coin. Both parody projects initially did not have any serious goals, but received tremendous support from market participants.
This support has become an incentive for the creators of the project to develop it, which certainly makes it a part of it. The project was deployed on the basis of the Ethereum blockchain, that is, it initially has the technical capabilities to create its own ecosystem. Since the summer of 2021, the Shiba Swap decentralized crypto exchange has been operating. It is focused on the exchange of ERC-20 tokens, however, it is technically impossible to exchange MATIC to BUSD on the site.
What is the position of Shiba Inu in the market?
The meme-coin has demonstrated relatively high performance during its existence. It is still in the TOP-20 of the most capitalized cryptocurrencies and takes 14th place.
Shiba Inu pricing factors
Any forecast of further changes in the price of Shiba Inu should not be taken as an accurate calculation. This is more of an assumption about the likely course of events. The coin is very volatile and very sensitive to various events, sometimes completely trifling. One of them is celebrity attention. Almost any post by Elon Musk that mentions a Shiba Inu dog causes a surge of interest in mem-coins and the price skyrockets by several thousand percent.
The price of a coin is also affected by:
• Running useful updates.
• General market trends.
• The price of BTC and ETN.
• Ecosystem scaling.
• Increasing the speed of transactions.
The price of an asset usually increases after it is listed on a reputable exchange. Do not lose sight of the fact that right now the digital currency is gradually moving into the legal field. This means that in the relatively near future, the national banks of different countries will be able to influence the exchange rate of SHIB to MATIC and other digital assets.
SHIB price prediction
There is an opinion among analysts that meme-coins may not survive the next crisis of the cryptocurrency market. The development of its own ecosystem gives SHIB a chance to remain among the market players.
SHIB price prediction for 2022
The 2022 opening price was $0.000033 per coin. By the beginning of February, the coin had fallen in price to $0.00002. The short-term growth in early March turned out to be just a respite and the decline resumed. During the summer, the coin traded between $0.000008 and $0.000016. As of now, the prospects for sustainable growth look doubtful. Possible continuation of the sideways trend indefinitely with short-term breakouts to the level of 0.00002.
SHIB price prediction 2023-2025
If the Shiba Inu ecosystem develops actively and the project is able to attract solid investors, the price of the coin will rise. Perhaps it will stabilize at around $0.00003. During this period, a new market cycle will begin, associated with the Bitcoin halving, and analysts expect another rally with a parade of historical highs.
SHIB price prediction 2026-2030
Subject to further fundamental growth of the cryptocurrency market and the mass adoption of cryptocurrencies, SHIB may reach an actual historical maximum. In the future, before the end of the decade, it is likely that the mark of $0.000081 per coin will be reached.
However, it is worth remembering the tougher competition. In the coming years, a serious reformatting of the market is expected. Due to the specific features of mem coins, their viability looks somewhat doubtful. Therefore, they should not be considered as a good tool for long-term investment.