New Delhi: The Shiba Inu self hailed as Dogecoin killer’s downfall continues as all the major altcoins are also tumbling in the crypto market. Shiba gathered huge attention and emerged as one of the favored choices of investors but this may not be enough to save it from the bear’s territory.
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.
On the other hand, Dogecoin’s success gained it the crown of the most successful meme coin. Shiba Inu inspired by the same Doge meme SHIB is worth $0.000006269 at the time of writing this. Per 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’s become akin to DeFi cousin Dogecoin and has created a resoundingly strong community”, he added
“Built on the ethereum network, Shiba Inu was designed to be completely community driven and governed, breaking away from traditional financial structures and remaining true to the core values or decentralised finance.”
Can it kill Dogecoin?
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’.
What will Shiba Inu be worth in 2022?
Shiba Inu is currently trading between very crucial levels and trying to break the resistance level. If this continues it may hit much lower levels. Bulls may be gained the upper hand earlier as the prices surged more than 13% but bears took the control back and pulled down the price by 15%.
Its price is currently on a very crucial edge and another plunge from here may lead the price towards the lower support levels below $0.000006 or even $0.00000450. Test of this level will open the way to the test of 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 top forecast for the coins is of $0.00001039 for 2021.
According to Wallet Investor, the price of Shiba could rise up to $0.000048, by the end of the year.
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.
The analysts believe the price of Shiba Inu will increase in the coming years. It is predicted that by the end of 2021, the price may rise and reach $0.0000202, which is twice the current price.Changelly
Our data indicates that the asset price has reflected a massive bull run for the past year, and it has tremendous long-term earning potential. The future price of the asset is predicted at $0.000018 by the end of this year.GOV Capital
The Shiba Inu price is forecasted to reach $0.0000121 by the beginning of December 2021. The expected maximum price is $0.0000155, minimum price $0.0000105. The Shiba Inu price prediction for the end of the month is $0.0000124.Trading Beasts
As per the latest news, research, and Shiba token price prediction, the coin might cross $0.00001258 by the end of 2021, and by 2025, it may record a new ATH around $0.000040.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 may drop to $0.0000009 in 2022 and pose a risk for investors.Reddit Community
As per these predictions, Shiba’s price won’t exceed its all-time high of $0.00003628 during the next seven years.