Trade SHIBA INU (SHIB) at the Best Exchange Rates

Shiba Inu: Memecoin with Potential

Recently, there has been a drop in the value of cryptocurrencies, leading to steady trading volumes due to low market activity. However, there has been a small increase recently, which has benefited both well-known players such as Bitcoin and Ethereum as well as meme coins like Shiba Inu and Dogecoin. This has brought back hope for the crypto enthusiasts once again. Let us learn about Shiba Inu coin and its potential.

The Shiba Inu Project – What Is It?

The Shiba Inu (SHIBUSD) is an altcoin that is based on Ethereum and whose logo is of the Shiba Inu dog. Shiba Inu is perceived as a competitor to Dogecoin since it is known as “the Dogecoin killer.”

Dogecoin and  Shiba Inu can be classified as meme cryptocurrencies, which means that there is a particular theme behind them (here, Shiba Inu dog), however, they are issued as a joke rather than a product. Though Dogecoin was launched in December 2013, The Shiba Inu crypto was released in August 2020 by a person who is known as Ryoshi. The features of Shiba Inu include:

• Low token pricing: This cryptocurrency has proved to be quite successful; however, one of the unique features that make it more appealing to many people is its relatively low cost per Shiba Inu token (SHIB).
• No utility and use case: While it can be said that there are already NFTs of Shiba Inu and the fact that its base is Ethereum means that it will be smart-contracts-enabled in the future, the problem is that for now Shiba Inu has no utility and no use case.
• High volatility: The highest market cap that Shiba Inu has reached is $41 billion, which is bigger than several S&P 500 companies that have existed for many years.

What is SHIB Coin?

SHIB Coin or Shiba Inu Token is constructed based on the Ethereum network rather than forming its own blockchain since the SHIB coin is an ERC-20 Token. As mentioned in the white paper, "Ryoshi chose Ethereum as the platform because it was a secure chain, and it would give him decentralized ecosystems." The basic concept behind SHIBArmy has all these values in mind which are that the project started from scratch with no funds; it didn’t start with a team or community and loving Shiba Inu dogs is a feature of it.

On the whole, the reasons for the popularity of Shiba Inu coin can be narrowed down to two main ones:

• Tesla founder Elon Musk has tweeted about his desire to get himself a Shiba puppy, which has caused a surge in crypto market and a price increase by 300 percent
• Prices have gone down by 40 percent due to the donation of 50 trillion Shiba Inu Coins to the India Covid Relief Fund, created by Indian crypto entrepreneur Sandeep Naiwal.

It has been shown that the cryptocurrency Shiba Inu is suitable for Ethereum. This fact has enabled the development of applications such as ShibaSwap, which is a DEX that facilitates token swaps and staking without requiring the intervention of any third party. The SHIB (DAO) becomes crucial for achieving the 'true decentralized ecosystem' described in the document. With the SHIB ecosystem poised to grow further with the launch of Shibarium Layer-2 and Shiberse metaverse projects, Doggy DAO becomes another project in the growing list of Shiba Inu initiatives. Shibarium has just passed 100,000 wallets.

What Is the Cost of a Shiba Inu Coin?

At present, one coin of SHIB is priced at $0.00000568. Long-term prediction regarding Shiba Inu seems to be good. It has been speculated that SHIB has the ability to deliver up to six to seven times returns to its investors over many years due to previous crypto cycles and Bitcoin prices of 100K.

How Many Shiba Inu Coins Are There?

Currently, one coin of SHIB is priced at $0.000007034. The total number of Shiba coins that can ever be there is known as total supply of a cryptocurrency and is set to be 1 quadrillion coins. Total supply of Shiba coins is important as it can influence scarcity of the coins.

Can Shiba Inu Be Worth 1 Cent?

Even though the SHIB token has experienced a few large gains over time, with the expansion of the asset’s market capitalization, it becomes less possible to achieve a high multiple for the token. Indeed, saying that a crypto project worth $10 million may eventually become 100 times more expensive is not entirely impossible.

It is rather unrealistic for Shiba Inu to become 1 cent. At least when SHIB was reaching its all-time high in October 2021 when the token cost $0.0000881, SHIB would have needed to be valued 113 times higher to be worth $0.01, which would be possible only under favorable circumstances. If this happened, then the SHIB token would have had the market capitalization of $5.89 trillion, or 4.6 times higher than the peak level of the Bitcoin market capitalization.

Shiba Inu Token: Will It Hit $1?

Although Shiba Inu could work out as a great investment opportunity, at a price of about $0.000007 per Shiba Inu token, there are 589.3 trillion Shiba Inu tokens, making the overall market valuation of the ecosystem around $4.6 billion. As per the calculation, the market valuation of the ecosystem would amount to $589.3 trillion if the price of a Shiba Inu token hit $1. This seems impossible.

However,  the Shiba Inu community is going to address the problem of the supply by burning the tokens; thus, making them irreversibly inaccessible. These kinds of transactions may be carried out by investors who will move some of their tokens into a dead wallet that is no longer accessible. Fans can also help by using the Shiba Search internet search engine or playing a particular music playlist. Shiba Inu tokens get burned by using some of the money earned from both the actions.

Shiba Inu Coin Will it Reach $10?

The calculation is simple. On average, 116 million coins are burnt daily. So, on an annual basis, around 42 billion coins are burnt. It will thus take about 13,900 years to burn sufficient coins for Shiba Inu to get to $1. Shiba Inu coin will not touch $10 for it is impossible.

Will Shiba Inu Rise?

Shiba Inu is a mature project that has large holdings and is listed on reputable cryptocurrency exchanges. This means that in case of a new cryptocurrency bullish trend and increased demand for Shiba Inu, buyers will have no problems acquiring the token. 

At the more fundamental level, the Shiba Inu development team is actively working on several solutions that would make SHIB a more attractive token to own. One of the most important solutions among those is Shibarium – the Layer02 scaling solution for Ethereum that was introduced in August 2023. 

According to the Shiba Inu developers, Shibarium is designed to provide low-cost and fast transactions for metaverse and gaming applications. In addition, the burning function is incorporated into Shibarium and the SHIB tokens are burned with every transaction through Shibarium. The Shiba Inu team is also working on exchange ShibaSwap, the Shiboshis NFTs collection, and SHIB: The Metaverse. The Metaverse has already released a trailer for their Rocket Pond.

In case of their wide usage, they can serve as a catalyst for the price increase of SHIB, and thus make it one of the best cryptocurrencies to invest in. At the same time, SHIB is still considered a speculative meme cryptocurrency, and thus it needs favorable conditions in the general crypto market to see any substantial growth.

But not only that, whales’ activities add fuel to the fire. Recently, a mysterious whale bought Shiba Inu (SHIB) tokens worth $6 million within just 24 hours. This transaction was disclosed by the reputable blockchain monitoring platform Whale Alert. The investor has purchased 708.41 billion Shiba Inu tokens from the crypto exchange Gemini, which were worth $5.99 million.

Should You Invest In Shiba Inu?

Thanks to its affordable price, Shiba Inu is one of the best investments for those investors investing for the first time. Shiba Inu was one of the top searched cryptos in 2021, and SHIB frequently appears among the best cryptos to buy on Reddit and other reputable sources. Many resources estimate that within the years up until 2030, the price of SHIB could grow between $0.0000836 and $0.0001204. According to some crypto-related webpages like Telegaon, the maximum price for SHIB can be $0.000712.

It should be noted that SHIB is a highly volatile meme crypto despite having so much potential. Investors unsure about how to choose between long and short term investment strategies can invest small funds in various cryptos, including Shiba Inu.

Where to Purchase Shiba Inu Coin?

Secureshift is your partner in purchasing Shiba Inu coin. The process does not require signing up or making payments in public. We offer a range of over 1500 coins that are available for trading via our crypto exchange service.

Shiba Inu Coin Purchase Process

Go to Secureshift and do the following:

1. Select the pair and the amount you want to exchange – for example, BTC for SHIB.
2. Click the "Start exchange" button.
3. Enter the recipient address to which you will send your cryptocurrency.
4. Complete the transaction.
5. Get your crypto coins.