Can Shiba Inu eat zero from the price before 2022?

Can Shiba Inu eat zero from the price before 2022?

In the early 20th century, no investment model was as reliable as equities. Although stocks had their own drawbacks, people still chose them over other investments like gold, oil, housing and bonds to reap good benefits in the long run. A decade later, things changed when bitcoin made its debut. People who thought stocks could help them grow their money moved to cryptocurrency. Today, the digital token market is much more than that. While mainstream cryptocurrencies like Bitcoin and Ethereum are still in play, other meme coins like Shiba Inu and Dogecoin are gaining value like never before. In particular, SHIB is the most anticipated meme coin to gain value before 2022. But will it really happen? We are exploring.

Memecoins are cryptocurrencies born out of memes and jokes online. Dogecoin was the first meme coin ever to make its debut in 2013. Although seen as a unique and strange investment model, people just talked about it but did not invest. Years later, in 2020, Dogecoin hit the mainstream after a Reddit movement of honest investors using sub-Reddits to trend the meme coin. Eventually, DOGE was also accepted at sporting events as a source of payment, and AMC Entertainment also opened the door to cryptocurrency. The growing popularity of dogecoins interested creators to make knock-offs. One of them is Shiba Inu. Today, Shiba Inu is no longer seen as a copy of Dogecoin, as the memecoin briefly managed to push DOGE back and occupy its eighth place on the top 10 crypto list. Shiba Inu’s price also hit a record high of $ 0.00008841 on October 27, recording a total of 17.335.194% since its inception. But SHIB to drop a zero from its value still seems to be a distant reality. In this article, we explore Shiba Inu’s performance and discuss whether the meme coin can eat a zero more from its value anytime soon.

Shiba Inus journey so far

Shiba Inu was created by one or more anonymous people named ‘Ryoshi’ in August 2020. Based on the Ethereum network, SHIB proclaims itself as the ‘Dogecoin killer’. Shiba Inu is currently switching from Proof-of-Work (PoW) to Proof-of-Stake (PoS) as Ethereum undergoes a makeover. The memecoin was created after the success of DOGE in 2020.

Like Dogecoin, the Shiba Inu price also kept a low profile for a long time before hitting the mainstream. In early October 2021, Elon Musk, Dogecoin’s godfather, posted a picture of his Shiba Inu puppy on Twitter. This move had a direct impact on SHIB as it indicated a price increase on the way. Later, a petition on Change.org, which requires the Robinhood platform to add Shiba Inu to their trading portfolio, also received over 300,000 signatures online. This eventually led to a massive price increase that pushed SHIB to reach a record high level. Preparations to launch a collection of non-fungible tokens (NFTs) containing 10,000 Shiboshi characters also contributed to the price increase. In addition, people bought Shiba Inu out of FOMO (Fear Of Missing Out). But after this rally, Shiba Inu’s price is back to a moderate state. At the time of writing was at US $ 0.00004141.

How does SHIB Buzz?

While there is much debate about whether Shiba Inu is off the radar or not, memecoin actually detects small developments and breaks new milestones. Recently, SHIB’s official Twitter account exceeded 1.8 million followers and overtook social media in the world’s second most adopted cryptocurrency, ethereum. This indicates that the so-called SHIB army is more dead and is at stake to expand the popularity of the digital token.

Taking notes from the story

The cryptocurrency sphere is very unstable and not all predictions come true here. However, we can take some hints from the story to predict what is approaching us. Similarly, Shiba Inu’s sudden price increase can be compared to Ripple and Litecoins in the past. According to the trend they are proposing, Shiba Inu’s price may soon be heading for a 90% loss. Yes, the price of XRP rose to $ 3.3778 in 2018 from its previous $ 0.0054 with a record increase of 62,452%. Litecoin also saw a gain of 24.613% in a very short time. However, both cryptocurrencies experienced a collapse of 90% faster after the price increases.

Can Shiba Inu drop another zero this year?

It is highly unlikely that SHIB will fall a zero more from its price this year. But in the long run, this may be possible, as Wallet Investor suggests that Shiba Inu has the potential to be a ‘fantastic’ long-term investment. Its price forecast for the end of 2021 is $ 0.000048, but the price may rise to $ 0.000098 by the end of 2022. According to this proposal, SHIB will drop to zero by the end of 2022 or the beginning of 2023.

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