If you have been paying attention to the world of cryptocurrency over the past couple of years, you will have heard of Dogecoin – the crypto that turned a meme into a boom. Success breeds imitators, and chief among the cryptocurrencies inspired by DOGE is Shiba Inu. This coin is on many investors’ lists and has generated much interest over the past year or so.
This article will show you all about Shiba inu coin price prediction: What will Shiba inu be worth in 5 years?
Shiba Inu price history
SHIB, which was launched in 2020, started 2021 at $0.000000000119. On 30 January 2021, it really kicked off, going from $0.000000000168 – that’s nine zeros after the decimal point – to $0.00000001 (seven zeros) overnight, an almost 60-fold increase.
There was more growth in April, with it dropping another zero to hit $0.00000011 on 11 April 2021. It was around this time that DOGE launched a significant rally and, with investors looking to see whether any other cryptos could do what Dogecoin had achieved, SHIB became a desirable commodity.
On 8 May 2021, the day Tesla boss and DOGE advocate Elon Musk appeared on US TV show Saturday Night Live, the price exploded again, going from $0.0000028 to $0.00001897 – a rise of around 570%. While Musk’s appearance on the American TV institution actually hit DOGE’s price, SHIB continued to expand, reaching a high of $0.0000388 on 10 May 2021.
However, the crypto market overall took a big hit with the great crypto day crash of 19 May 2021, which affected SHIB. It dropped to $0.000007046 on 21 May and, while it went back up to $0.00001195 on 24 May, it did not return to anywhere near its high and was trading at around $0.000007 on the morning of 15 June 2021.
However, on the evening of that day, the Coinbase exchange announced, much to many analysts’ surprise, that it would list SHIB, which led to the Shiba Inu coin price rising from $0.00000728 to $0.000009331 in just over an hour – an increase of 28%. This sudden boom was followed by the price going back down and it spent the rest of the summer and early autumn hovering around the $0.000007 mark.
This all changed in October, when Elon Musk– probably unintentionally – came to the coin’s aid. The billionaire posteda picture of his new Shiba Inu dog, Floki, on Twitter, which saw the coin hit a sustained rally, culminating in an all-time high of $0.00008845 on 28 October 2021. This was around the same time that an anonymous crypto whale purchased 276.6 billion SHIB tokens, worth perhaps $24m, according to WhaleStats.
That was as good as it got with Shiba. November 2021 saw the coin close at $0.00004745 and there was a further decline in December, with the coin closing 2021 at $0.00003341. This meant it had lost roughly 30% of its value during the month, but this does need to be taken in the context of the coin’s value rising by more than 28,000,000% over the course of the year.
January 2022 saw a slump, with the coin reaching a nadir of $0.00001744 on 22 January before recovering somewhat to hit $0.00003493. There was a slow decline, exacerbated by Russia’s invasion of Ukraine on 24 February, when SHIB fell to $0.00002087. After that there was something of a recovery, and the newsthat Binance would give SHIB to new customers helped it rise to a monthly high of $0.00002927 on 28 March 2022.
On 11 April, the token fell to lows of $0.00002198. After that, there was something of a modest upward trend, with the price standing at $0.0000235 on 27 April, before the bears came to the crypto market and it dropped to trade at around $0.0000166 on 9 May 2022.
The depegging of the TerraUSD stablecoin and the collapse of the associated LUNA crypto saw the price fall to $0.000009145 on 12 May, and while there was some recovery after that, with the token reaching a high of $0.00001235 on 30 May, there was another drop and, as of 13 June 2022, SHIB was worth about $0.0000075.
It was around this time that withdrawals were cancelled on the Celsius lending platform, confirming a bear market and seeing SHIB drop to a low of $0.000007721 on 18 June 2022. After that there was some recovery and, on 4 July, the price of SHIB stood at around $0.00001. The upward movement continued, albeit with some peaks and troughs, to reach a high of $0.00001307 on 20 July, after which the price cooled down, dropping to $0.00001034 on 26 July 2022.
Following this, there was some recovery and, on 14 August it reached a high of $0.00001774 before dropping down to trade at about $0.0000158 on 16 August 2022.
With a little over 549 trillion SHIB in circulation out of a total supply of a little over 589.7 trillion, this meant the token had a market cap of about $8.66bn, making it the 12th largest crypto by that metric.
Shiba Inu price forecast 2030
As far as a Shiba Inu coin price prediction for 2030 goes, do bear in mind that forecasts are often wrong, and that many longer-term crypto predictions are made via an algorithm, which means they can change at any moment.
With that said, CoinPriceForecast says that SHIB will hit $0.00002217 at the end of 2022 and $0.00005893 by the end of 2030.
Second, Cryptopolitan has a Shiba Inu price prediction for 2030that says the token is expected to trade at somewhere in the region of $0.00030921.
Meanwhile, PricePrediction says that the SHIB price prediction for 2030 is an average of $0.00028904, with a minimum price of $0.00027928 and a maximum of $0.00033042.
Finally, TradingEducation makes a long-term Shiba Unu price prediction, where the price of SHIB will reach an average of $0.000087 by the end of 2022, rising to $0.000156 by the end of 2023 and $0.000872 by the end of 2025. Shiba Inu will then rise slightly to $0.00125 in 2027 but will reach an average price of $0.00269 in 2030.
Closing thoughts
SHIB is a homage to DOGE, making it, in effect, a meme of a meme. There are, at present, few real-world usages for SHIB, which means it could well disintegrate in price over time unless this is remedied.
The second half of 2021 saw a growth in what could be described as the third generation of dog coins, with the likes of FLOKI making their mark on the crypto world. There is always the risk that SHIB could find itself trapped between the big daddy dog that is DOGE and the upcoming young pups, and ultimately see its user base dwindle away.
The last thing to point out is that even the most optimistic long-term forecast for SHIB does not see it breaking through the cent barrier. This is not necessarily a bad thing: The growth predicted in the forecasts is such that investors could turn a profit if they come true. But it does serve as a calming corrective against the excitement you might find on some parts of SHIB social media.
Hope this article can provide you with a better understanding about Shiba inu coin price prediction: What will Shiba inu be worth in 5 years.
