New Delhi: The Shiba Inu self hailed as Dogecoin killer has been the flavor of the season in the cryptocurrency market as it is garnering huge attention and has emerged as favoured choice of investors, especially in wake of a tailspin in cryptos like Bitcoin and Ethereum.

According to analysts, At one point in time, Shiba Inu registered a growth of over 120 percent in 24 hours and logged a staggering 1,970% gain in just 7 days.

The price of the ethereum-based meme token could double imminently as the cryptocurrency market recovers from the recent crash, as per FXStreet

“Despite almost two weeks of consolidation, SHIB has overcome indecision, working in favour of the bulls after gaining over 55 percent in market value from its bottom,” FXStreet reported.

All the analysts and experts are eyeing the mark of  USD 1 for the Shiba Inu but when it will reach the target is anybody’s guess. But, good news for the investors is that despite the big sell-off around the world Shiba Inu’s price has rebounded from the bottom.

Shiba Inu is building a new decentralized exchange (DEX) to compete with the competitors Uniswap and Sushiswap. If it receives a small fraction of success like the two other Decentralized Finance markets have received, the most gaining currency will be Shiba Inu being the native currency of the new DEX. It can also skyrocket the value of the coin to hit the mark of $1.

What is Shiba Inu coin price prediction?

According to The Sun, the currency has not shown as much growth compared to the Dogecoin and appears to have been made as a way to “give Dogecoin a run for its money”. On the other hand, Dogecoin is highly likely to reach $1. But as how the currency is moving recently, it seems the currency is expected to become a ‘Stablecoin’.

According to Wallet Investor, the price of Shiba will reach around $0.000030 by June 2021 and could rise up to $0.000048, by the end of the year.

As per Gov.Capital, the price of Shiba could reach $0.000025 by June 2021.

According to other reports,  It is expected that Self-claimed Doge killer, Shiba Inu can reach at 0.000085 dollars toward the finish of June 2021. If it continues to rise we can say that the cost will be 0.0003 dollars in January 2022.

By the calculations, there is a very low probability that it will reach $1 by 2025.

How to buy Shiba Inu coin in India?

While there is a looming threat of a ban from the government, Indians are actively trading cryptocurrencies.

In India, Shiba Inu cryto coin is traded at an Indian exchange named WazirX.

Shiba Inu tokens are also listed on other platforms like Uniswap and CoinDCX’s web version.

On Uniswap, users can buy and sell cryto currencies in exchange for ETH & Ethereum-based tokens.

Uniswap is an Ethereum-based decentralized exchange.