Shiba Inu is a decentralized cryptocurrency and the actual person behind the creation of this currency is not yet known other than the pseudonym ‘Ryoshi’.
It was created in August 2020 and is yet another cryptocurrency that is inspired by the Japanese god breed Shiba Inu. The same breed of dog also serves as the mascot for Dogecoin.
The branding of the coin gave it the image of a potential competitor to Dogecoin, which is a popular cryptocurrency.
Here we will be looking into the different details of the currency, including its predictions for the coming years and details that will help you to decide whether it’s a good or bad investment. So, make sure to go through the article till the end.
What is Shiba Inu(SHIB)?
Shina Inu is an altcoin that is based on Ethereum. This cryptocurrency is known for its mascot which uses Shiba Inu, which is a popular Japanese dog breed.
Due to the similarity in its mascot, the coin is often considered one of the major alternatives for Dogecoin.
One of the major features of this cryptocurrency is the fact that it falls under a category called meme coin.
These types of coins are launched as a part of some insider jokes or a parody rather than as a digital asset that has any kind of utility. Dogecoin is also an example of a meme coin.
As per the guiding tenets of the Shiba Inu ecosystem, the currency was developed as an answer to the question ‘What happens if a cryptocurrency project is 100% run by its community?’ According to the creation of the coin Ryoshi, Shina Inu developing the coin traces back to experiments in decentralized spontaneous community building.
The Shiba Inu Ecosystem
There are three different tokens in the Shiba Inu Ecosystem. They are;
| Shaiba Inu(SHIB) | This is the foundational currency and the cryptocurrency started with a supply of 1 quadrillion, which is equal to 1,000 trillion tokens. |
| Leash(LEASH) | It is the second coin in the Shina Inu ecosystem and this coin represents the other end of the ecosystem’s spectrum. While there are trillions of Shina Inu tokens, the supply of Leach is limited to a number of 107,646 tokens. |
| Bone(BONE) | This is the third coin in the Shina Inu ecosystem, and it fifties right in between the other two coins when it comes to circulation supply. There are 250,000,000 tokens and it was originally designed to be a governance token. |
Shiba Inu (SHIB) Price Prediction 2024, 2025, 2030
At the time of writing, the rate of Shiba Inu is $0.00004 per(SHIB/USD) and the current market cap of the coin is $23.76B USD. Considering the time of writing, the 24-hour trading volume of the coin is $13.87B USD.
The price of SHIB in 2024 is said to have a potential low of $0.00000750 and a potential high of $0.00002026. The average price of the coin is estimated to be around $0.00001875 for 2024.
If the developers are successful in taking care of the different improvements for the coin, the price of Shina Inu in 2025 is said to reach a potential high of 0.00003965 or if the case is the opposite, it could result in a potential low of 0.00003078.
The price predictions for Shiba Inu in 2030 seem to have a fluctuation range between 0.00016136 and 0.0001958, with an average value of around 0.00017858.
Shiba Inu – Where to buy?
Some of the most popular cryptocurrency platforms to trade Shiba Inu are;
Shina Inu – Is it a good investment?
As mentioned earlier, Shina Inu was initially deemed as a meme coin with not much utility to it other than trading, the coin is improving and increasing its applications.
The coin has its own Metaverse called Shib Metaverse and the developers of the coin are evolving towards organic growth and increasing its real-world applications.
These new improvements in the landscape of its ecosystem are expected to take the coin beyond the limits of a meme coin and increase its utility.
With all that said, Shiba Inu is considered a high-risk investment and the new developments are expected to change this image.
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