Shib Coin: A Smart Investment Move?

Shiba Inu (SHIB) is a decentralised, community-building cryptocurrency that was created in August 2020 by an anonymous person named Ryoshi. It is a meme coin launched as a rival of Dogecoin or Doge-killer. The Shiba Inu ecosystem is an open-source ecosystem of decentralised applications, protocols and platforms that enable the creation of smart contracts and decentralised applications on the Ethereum blockchain.

SHIB's price has fluctuated a lot since its launch in 2020. It reached an all-time high of $0.00008845 in October 2021, but has since cooled off, settling around the $0.00001–$0.00002 mark.

As of August 2024, SHIB is trading at around $0.00001368, which is approximately 80% below its all-time high, and has a market cap of over $8 billion, making it the 13th largest cryptocurrency.

So, is SHIB worth investing in? Well, that's a difficult question to answer. Cryptocurrencies are volatile and investing in them can be risky. SHIB is particularly risky because it is a meme coin with no intrinsic value. Its value is based purely on speculation and hype. However, it has a strong community and has proven itself to be a popular choice among investors. It also has a limited supply of one quadrillion tokens, which may spark speculation in the future.

If you are considering investing in SHIB, it is important to do your own research and only invest what you can afford to lose.

Shiba Inu's price history

The Shiba Inu coin was created in August 2020 by an anonymous person named Ryoshi. On its first day, 1 quadrillion tokens were minted. At the time, the cost of a single SHIB was $0.00000000051, meaning 196,078,431,372 SHIB coins could be bought with $100.

SHIB's price exploded in May 2021, when it went from $0.000005246 to $0.00001883—a rise of roughly 260%. This was due to people looking for the next Dogecoin after DOGE rallied, and also due to Elon Musk's appearance on Saturday Night Live. The price continued to increase, reaching an all-time high of $0.00008845 on 28 October 2021. This was partly due to Musk tweeting about his Shiba Inu puppy, and also due to the potential listing of SHIB on Robinhood.

However, 2022 was a bad year for crypto, and SHIB suffered a series of market crashes. It started the year at $0.00003342 and ended at $0.000008087, representing a loss of over 75%.

SHIB has since made a small recovery. As of August 2024, it is trading at around 0.00001368, which is approximately 80% below its all-time high.

The future of Shiba Inu

SHIB's future performance will depend on several factors, including community support, market conditions, and the success of its projects. It has already released a decentralized exchange (DEX) and an NFT project, and it is working on its metaverse platform. These projects have attracted more users and helped SHIB differentiate itself from other meme coins.

SHIB's price has been volatile, and it is currently trading at a fraction of its all-time high of $0.00008845 in October 2021. However, crypto analysts and price prediction platforms have made the following forecasts for SHIB's price in the coming years:

• In 2024, the minimum price is expected to be around $0.0000125, with a maximum of $0.0000209 and an average trading price of $0.0000293.
• In 2025, the minimum price is predicted to be around $0.000021, with a maximum of $0.000026 and an average trading price of $0.000022.
• In 2026, the minimum price is expected to be around $0.000032, with a maximum of $0.000038 and an average trading price of $0.000033.
• In 2027, the minimum price may drop to $0.000045, with a maximum of $0.000055 and an average trading price of $0.000047.
• In 2028, the minimum price is predicted to be around $0.000064, with a maximum of $0.000078 and an average trading price of $0.000066.
• In 2029, the average trading price is expected to be around $0.000100, with a minimum of $0.000096 and a maximum of $0.000113 throughout 2029.

It is important to note that cryptocurrency markets are extremely volatile, and price predictions are often wrong. Investing in cryptocurrencies is risky, and it is important to do your own research and only invest what you can afford to lose.

Shiba Inu's ecosystem

The Shiba Inu ecosystem is a community of people and organisations working together to create value for the Shiba Inu network. The ecosystem includes developers, investors, businesses and users.

The Shiba Inu ecosystem is an open-source ecosystem of decentralised applications (DApps), protocols and platforms that enable the creation of smart contracts and decentralised applications (DApp) on the Ethereum blockchain.

The Shiba Inu ecosystem is made up of the following three tokens, with one to be added "soon" as of December 2023:

• Shiba Inu (SHIB): This is the project's foundational currency. Starting with a supply of about 1 quadrillion, 50% was locked in Uniswap for liquidity purposes, and the other 50% was sent to Ethereum co-founder Vitalik Buterin for safekeeping.
• Leash (LEASH): The second token in the Shiba Inu ecosystem, Leash represents the other end of the ecosystem's spectrum, with a total supply of only 107,646 tokens compared to the trillions of Shiba Inu tokens. Leash is used for rewarding ecosystem supporters with perks.
• Bone (BONE): Bone fits in between the other two tokens in terms of circulation supply, with a total supply of 250,000,000 tokens. Originally designed to be a governance token, it will be used in Shibarium to reward validators and delegators.
• Treat (TREAT): Purpose unknown as of December 2023.

The Shiba Inu ecosystem also includes:

• ShibaSwap: The goal of DeFi platform ShibaSwap is to provide a safe place to trade cryptocurrencies while remaining decentralised.
• Shiba Inu Incubator: The incubator aims to shift the focus beyond popular art forms and discover ways to honour creativity and ingenuity.
• Shiboshis: Shiboshis are 10,000 Shiba Inu-generated non-fungible tokens (NFTs) written on the Ethereum blockchain, with different traits that make each Shiboshi unique and collectible.
• Shibarium: Shibarium is a yet-to-be-officially-released L2 blockchain network built on Ethereum. It is designed to provide scalability, open the door to new ideas and make the decentralised finance industry safer.

Is Shiba Inu a good investment?

Shiba Inu (SHIB) is a decentralised, community-building cryptocurrency and is considered an "experiment" within the Shiba Inu Ecosystem. It was created in August 2020 by an anonymous person named Ryoshi and is built on the Ethereum Blockchain Network.

SHIB gained prominence in 2021 due to the bullish momentum in the cryptocurrency market and the influence of social media hype. Its popularity was also driven by online attention from the likes of Ethereum founder Vitalik Buterin and Tesla CEO Elon Musk.

SHIB's value has fluctuated significantly since its launch. In October 2021, its price rose by over 173% in just a week, but it has since plummeted and is currently trading at a fraction of its all-time high.

So, is Shiba Inu a good investment?

Well, that's hard to say. On the one hand, SHIB has a strong community, and its popularity has helped it take over a lot of the crypto market. It has also been predicted that SHIB's price will increase in the coming years. For example, Changelly predicts that SHIB's price could reach a maximum of $0.000166 by 2030, which would be a return of over 1000%.

On the other hand, SHIB is highly volatile and risky. Its value is based largely on hype, and there are concerns that its recent price increases may be due to speculation and fear of missing out (FOMO). Additionally, SHIB has no intrinsic value, and its success depends on the growth of its community.

Therefore, while SHIB could be a profitable investment, it is important to approach it with caution. It is crucial to understand your risk tolerance and financial goals before investing in SHIB or any other cryptocurrency.

Shiba Inu's tokenomics

Shiba Inu (SHIB) is a decentralised, community-building cryptocurrency and a meme coin launched as a rival to Dogecoin. It was created in August 2020 by an anonymous developer called Ryoshi, in a similar fashion to Bitcoin's founder, Satoshi Nakamoto. It is built on the Ethereum Blockchain Network and is a token, not a coin.

The Shiba Inu ecosystem is an open-source ecosystem of decentralised applications (DApps), protocols, and platforms that enable the creation of smart contracts and decentralised applications (DApp) on the Ethereum blockchain. The Shiba Inu token (SHIB) is used to purchase goods and services within the ecosystem.

The Shiba Inu tokenomics is designed to maximise value for the SHIB community. The total supply is one quadrillion SHIB, and the circulating collection is one hundred quadrillion SHIB. There is a hard cap of one hundred quadrillion SHIB, and the burn rate is four percent per year.

SHIB's initial distribution saw 50% allocated to Uniswap Liquidity and the other 50% to Ethereum's co-founder, Vitalik Buterin, for safekeeping. Buterin donated 50 trillion SHIB coins to India's Covid-19 relief fund and sent 40% of the total supply to a dead wallet.

Shiba Inu's network also has a decentralised exchange (DEX) called ShibaSwap and a non-fungible token (NFT) incubator called the Shiba Incubator.

Frequently asked questions