New Delhi: The demise of Shiba Inu, known as the Dogecoin killer, continues as all major altcoins collapse in the crypto market too. Shiba attracted a lot of attention and turned out to be one of the favorite choices of investors, but this may not be enough to save it from the bear’s territory.
According to analysts, at one point Shiba Inu saw over 120 percent growth in 24 hours and a staggering 1,970 percent increase in just 7 days.
On the other hand, Dogecoin success has earned it the crown of most successful meme coin. Shiba Inu, inspired by the same Doge meme SHIB, is worth $ 0.000006269 at the time of this writing. According to CoinMarketCap.com, the Shiba Inu coin token has lost 83% of its value since its all-time high in May.
In an interview with Express.co.uk, CEO and co-founder of Voyager Digital, Steve Ehrlich said SHIB could go far.
“While SHIB was widely known as a light-hearted meme coin, it is related to DeFi cousin Dogecoin and has created an overwhelmingly powerful community,” he added
“Built on the Ethereum network, Shiba Inu was designed to be fully controlled and managed by the community, to break away from traditional financial structures and to remain true to core values or decentralized financing.”
Can it kill Dogecoin?
Accordingly The sun, The currency has not shown as much growth compared to Dogecoin and appears to have been created as a way to “give Dogecoin a run for your money”. On the other hand, Dogecoin is very likely to hit $ 1. But as the currency has been performing lately, it seems that the currency is likely to become a “stablecoin”.
What will Shiba Inu be worth in 2022?
Shiba Inu is currently trading between very critical levels and is trying to break through the resistance level. If this continues, it can get much lower scores. Bulls could get the upper hand sooner as prices rose more than 13%, but bears took back control and pushed price down 15%.
The price is currently on a very critical edge and another dip from here could lead the price towards lower support levels below $ 0.000006 or even $ 0.00000450. Testing this level opens the way to test the support at $ 0.0000055.
However, the short-term price predictions for SHIB are incredibly broad. Different forecasters have different predictions for the Shiba Inu coin
According to Digital Coin Price, the top forecast for the coins for 2021 is $ 0.000001039.
Shiba’s price could climb to $ 0.000048 by the end of the year, according to Wallet Investor.
According to other reports, the self-proclaimed dog killer is expected to be able to reach Shiba Inu at $ 0.000085 towards the end of June 2021. If it continues to rise, we can say the cost will be $ 0.0003 in January 2022.
The analysts expect the price of Shiba Inu to rise in the coming years. It is forecast that the price could rise to $ 0.0000202 by the end of 2021, which is double the current price.Changelly
Our data shows that asset price reflects a massive bull run over the past year and offers tremendous long-term earnings potential. The future price of the asset is projected to be $ 0.000018 by the end of this year.GOV capital
Shiba Inu price is expected to be $ 0.0000121 in early December 2021. The expected maximum price is $ 0.0000155 and the minimum price is $ 0.0000105. Shiba Inu price prediction for the end of the month is $ 0.0000124.Trading beasts
According to the latest news, research, and the price prediction for Shiba tokens, the coin could top $ 0.0001258 by the end of 2021 and record a new ATH of around $ 0.000040 by 2025.Digital coin price
Based on our analysis, the results are not very encouraging as the bears may be back for SHIB and the SHIB price could drop to $ 0.0000009 in 2022 and pose a risk to investors.Reddit community
According to these predictions, the price of Shiba will not exceed its all-time high of $ 0.00003628 over the next seven years.