Shiba Inu Price Prediction 2024, 2025, 2026 – 2030

Ben Beddow | Verified by Medb Kiely-Cuddy

Last updated: March 8, 2024 10:31 EST | 27 min read

As the world’s second most popular meme coin, with a market cap of over $5 billion, Shiba Inu ($SHIB) is a well-established cryptocurrency. Since its early days as a viral meme coin (with prices jumping 74,000,000% in its first year), its community has turned to more serious endeavors. The Shiba Inu ecosystem features a DEX, a layer 2 protocol for Ethereum, 2 NFT collections, and many real-world partnerships and projects.

In this post, we dive into Shiba Inu and the ecosystem’s offerings. We combine this information with in-depth technical analysis to build an informed Shiba Inu price prediction for the rest of the decade.

Shiba Inu Price Predictions 2024-2030

Below we’ve neatly organized our Shiba Inu price prediction by year, stating how we came to the high, low, and average Shiba Inu price predictions that we summarized in the table above.

Shiba Inu Price Prediction 2024

At the time of writing, Shiba Inu was trading at $0.00003605 with a 24-hour trading volume of $4.45 billion USD. The current price is down 59.24% from its all-time high of $0.00008845.

2024 started with positive momentum in the crypto markets after the approval and impressive adoption of Bitcoin ETFs at the beginning of the year took Bitcoin to a new all-time high. This spurred a bout of meme-mania in the markets that saw top meme coins, like Shiba Inu, gaining 300%+ in 7 days. However, meme coins are invariably fickle and volotile, and if Bitcoin drops from its current level, particularly if it drops below $60k, then Shiba Inu, along with the rest of the market, is likely to follow—potentially wiping out all of these gains.

Currently, 2024 looks bright for crypto and $SHIB, with the most anticipated Bitcoin Halving event ever coming in April and a layer 2 focused Ethereum upgrade scheduled for launch 5 weeks earlier, on March 13th. All this is followed by the potential approval of Ethereum ETFs by the SEC in May. However, some say ETH price action may be subdued as the event might already be priced in. As a result, any market downturn may be short-lived.

In the world of Shiba Inu, there are many improvements to look forward to in the Shiba ecosystem, including the launch of Shibaswap on the Shibarium layer 2, and the integration of Shibarium into the Shiba Eternity mobile game.

With positive developments coming in the Shiba ecosystem, our Shiba Inu price prediction for 2024 is also a positive one. We do see a low of $0.000010 coming as Shiba corrects with the rest of the market. However, we see highs of $0.000062 for 2024 and an average price of $0.000032.

Shiba Inu Price Prediction 2025

2025 is predicted by many to be dominated by the price effects of the Bitcoin Halving, which, historically, has driven the crypto market to new all-time highs 12–18 months after the event, and this period will land right in the middle of 2025.

The decentralized Shiba community is building offerings on multiple fronts in the form of a blockchain-based game, a metaverse, a layer 2 for Ethereum, and a DEX. While updates are expected to be released in 2024 for almost all of these, the team behind these developments does not have a track record of hitting deadlines. This leads us to assume that some of these may be pushed back to 2025, which could result in positive price action for $SHIB in 2025.

Finally, with a bull market expected to be in full swing, lawmakers around the globe are likely to be pressing ahead with cryptocurrency regulations, which we expect—and hope—to be favorable to the continued growth and innovation of the crypto space. One concern here, however, is Shiba Inu’s status as a meme coin and whether or not lawmakers might treat these assets differently.

All-in-all, 2025 looks to be a good year for the Shiba ecosystem and, therefore, the $SHIB token. Our Shiba Inu price prediction for 2025 contains highs of $0.000135, lows of $0.000025, and a median price of $0.000080.

Shiba Inu Price Prediction 2026

What goes up must come down, and many expect the fallout from the Bitcoin-Halving-induced highs of 2025 to come in 2026—this fallout typically results in tokens losing about 75% of their value from their highs.

In the Shiba Inu world, the growth of the Shibarium layer 2 will be meeting stiff competition in a crowded layer 2 market, especially as Ethereum will likely have finished its scaling upgrades that focus on improving the environment for layer 2 solutions. With no roadmap for Shibarium, it is difficult to know what is upcoming in terms of development or even the release of mainnet versions of products like the SHIB Metaverse.

With all this in mind, the 2026 Shiba Inu price prediction is less positive than prior years, with a high of $0.000100, a low of $0.000025, and an average price of $0.000040.

Shiba Inu Price Prediction 2027

The Shiba Inu ecosystem is partially hinging its success on a shift toward decentralized blockchain protocols rather than more centralized versions that offer the current system but just on blockchain rails.

If much of the world fails to avoid recession, and fiat currencies continue to steadily lose value, Shibarium and its decentralized ethos could turn out to be one of the more in-favor layer 2s on Ethereum for public use. However, with many other more centralized and VC-backed options out there, it is unlikely Shibarium will draw any initial institutional interest.

As a result, 2027 could be a year where Shibarium lags behind its layer 2 competitors as institutional use of blockchains grows, and it receives little of this influx of funds and utility.

However, $SHIB will still be being burned, and individuals, marred by the failings of institutions and their associated governments, could be attracted to the Shibarium, which might by now have launched its SHI stablecoin, pegged to the US cent.

As a result, our $SHIB price forecast for 2027 is not as positive as it might be, with a high of $0.000100, lows of $0.000030, and an average price of $0.000060.

Shiba Inu Price Prediction 2028

The 5th Bitcoin Halving is scheduled to occur in 2028, and with global crypto adoption at an all-time high and regulatory frameworks in place for cryptocurrencies around the globe, it is expected that crypto prices will rise in anticipation of this event.

Will Ethereum and its layer 2s have decoupled from the Bitcoin price by this point? It is hard to tell. But there are many analysts that think not. As a result, our Shib price prediction for 2028 contains lows of $0.000080, an average price of $0.000100, and a high of $0.000120.

All of this rests on the Shib Army continuing to grow and develop dApps on the Shibarium layer 2, building use cases and attracting users.

Shiba Inu Price Prediction 2029

As we look further into the future, things become much harder to predict. However, if crypto and the Shibarium Ethereum layer 2 are still going strong then it is widely expected that 2029 will be the year we see the impact of the 2028 Bitcoin Halving in the market. This could induce new highs for the world’s top cryptocurrency—still a juggernaut in the crypto space—and pull other crypto up with it.

This results in higher prices for Shiba Inu, too, and in 2029 we predict a high of $0.000220, a low of $0.000100, and an average price of $0.000160.

Shiba Inu Price Prediction 2030

If 2029 is when the highs resulting from the 2028 Bitcoin Halving are expected to hit, then 2030 is when tokens are expected to drop off. However, with the continued adoption of cryptocurrencies and more and more individuals around the globe looking to escape the forces of banks and institutions, Shiba and Shibarium may have gained a large number of followers who are happy to pick up more $SHIB as the price drops, preventing it from dropping as low as many expect.

As a result, our Shiba Inu price prediction for 2030 contains a high of $0.000180, a low of $0.000080, and an average price of $0.000120.

Historical Performance of Shiba Inu

Shiba Inu was launched in August of 2020, and data for the Shiba Inu price on CoinMarketCap starts from the 3rd of August, 2020, where $SHIB was priced at $0.000000001009. The SHIB price dropped straight to $0.000000000145.

After dipping to its all-time low of $0.000000012 0008165 in late August, and besides one two-day spike of 360% in September, the price of Shiba Inu stayed quiet, trading in a tight range between $0.000000000119 and $0.000000000168 until the end of January 2021.

Almost 6 months after launch, Shiba Inu climbed aboard the crypto rocket and followed the majority of the crypto markets north as the 2021 bull run commenced, and many cryptos went parabolic, climbing up to new all-time highs.

From a price of $0.000000000168 on January 27th and resting at various psychological support/resistance levels along the way, Shiba climbed to a new high of $0.00003043 on May 11th—an astonishing gain of over 18,000,000%.

Quite predictably, the token price then crashed, bottoming out around support of $0.000006—a loss of 80%, but still 3,500,000% up from its pre-pump price in January.

Between May and October of 2021, $SHIB traded in a range between $0.00001 and $0.000006. At the beginning of October, along with the rest of the crypto market, Shiba took off again, climbing 253% to meet resistance at the $0.00003 mark.

However, this was just a refuel, and in late October, the crypto rocket took off again, with Shib climbing to its all-time high of $0.00008845 on October 27th, 2021—just two weeks before Bitcoin hit its all-time high above $68k.

Its price then steadily declined through the remainder of the year, crossing the $0.00003 mark just after the beginning of 2022.

2023 started well for $SHIB as news of the upcoming Shibarium beta testnet release helped to propel $SHIB prices up to $0.00001471 in early February—a gain of over 80%.

The token subsequently dropped in price once the speculation was over, driving downward to hit a yearly low of $0.000006555 in June—a 55% loss.

From here, the token climbed, and as a mainnet launch date was finally scheduled for mid-August—after multiple pushbacks by the team—for the Shibarium layer 2 for Ethereum, token prices climbed again, peaking above $0.00001 a few days before launch.

The Launch of Shibarium on August 17th, however, didn’t go as planned, and was stopped, purportedly due to “unprecedented demand.” The token price then dropped to just below the crucial support of $0.000008 a week before relaunch, climbing back above it in time for the successful relaunch of Shibarium on August 28th, which also saw the platform surpass 100,000 unique wallets by adding 35,000 in just 24 hours.

All this didn’t stop Shiba Inu from losing 20% of its value, dropping to lows below $0.000007 and hitting support at $0.000006775 in late October.

From here, $SHIB joined a wider market rally based on speculation around Bitcoin ETF approval. This market action lifted the price of $SHIB above the $0.00001 mark for the end of 2023 before dropping below it at the beginning of 2024 and then struggling against it as resistance.

On the 26th of February, however, Shiba Inu, and the rest of the meme coin market, strapped on rocket boosters and began climbing the charts. SHIB gained over 360% in seven days, and topped out just below $0.000045. At the time of writing it had retraced to bounce off $0.00003, and was trading above $0.000035 by the time of writing with a price of $0.000343,  248% up since the start of the year.

Current State of Shiba Inu

The Shiba Inu ecosystem is currently in growth mode with development continuing on numerous fronts, including the SHIB Metaverse, the Shibarium sidechain, the release of a second NFT collection in mid-February, and the Shiba Eternity game.

It is also expected that Shibaswap 1.5 will finally launched (then upgraded to a 2.0) on the Shibarium side-chain. These updates were discussed in the February release of The Shib, the Shiba Inu’s community’s dedicated magazine, by the development lead of the Shiba team, Shyoshi.

Timelines for releases are not set and are likely to be given closer to the launch date.

Market Position and Performance

After its recent ride up the chart, Shiba Inu sits at position number 10 in CoinMarketCap’s ranking of coins by market cap, with a market cap of $20.21 billion. This comes as meme mania is hitting the market and the whole market is rallying on the back of an influx of institutional money into Bitcoin ETFs.

However, as can be seen in the charts below, $SHIB tracks the price of the top meme coin, Dogecoin, much more closely than it traces the price of Ethereum, the chain on which it was launched, and the layer 1 its layer 2 is connected to. This displays how investors intrinsically think of meme coins together, and when one goes up, it is like that the other will follow it—and vice versa, and this recent rally, in which the whole meme market has posted considerable gains, is proof to that fact.

So when asking, “will Shiba Inu go up?” investors should remember to look at Shiba’s close animal-coin cousins in the memecoin market as a part of their analysis.

What is Shiba Inu and What is it Used For?

Shiba Inu ($SHIB), initially a meme coin, is the primary token of the Shiba ecosystem, an ecosystem that has evolved from an experiment in decentralized community building to boast four tokens, an Ethereum layer 2 solution, 2 NFT collections, a DEX, a metaverse, numerous games, and even a real-world restaurant partnership.

Shiba Inu was launched in August 2020 as a meme coin—and still sits at #2 in the meme coin rankings on CoinMarketCap. It was created by an anonymous creator who goes by the moniker “Ryoshi” and launched on the Ethereum blockchain as an ERC-20 token.

However, in less than four years since its launch, the Shiba Inu project has significantly outgrown its meme coin status and evolved into a decentralized ecosystem and blockchain movement brimming with passionate supporters, known as the Shib Army, and grown in utility and playing host to a total of four tokens.

To understand Shiba Inu we must first look at its creator, Ryoshi.

Where it All Started, The Founder: Ryoshi

As an anonymous creator of a top cryptocurrency who has now left the project to the community that arose around it, many have drawn a likeness between Shiba Inu founder Ryoshi and the Bitcoin founder Satoshi Nakamoto. Many have speculated that the creator could be Vitalik Buterin or Elon Musk, but both have denied these claims.

Ryoshi, incredibly in some people’s view, states that he has never owned $SHIB. This enabled them to keep bias out of the project’s development and direction.

“I am a nobody, I am not important. The efforts to unmask my “identity” even if successful would be underwhelming. I am just some guy of no consequence tapping at a keyboard and I am replaceable.” — Ryoshi

Importantly Ryoshi states that they created Shiba Inu as an experiment in decentralized community building, and that no one is accountable or responsible for Shiba Inu. Indeed, they also said that they turned down numerous advances and requests from influencers to market the token.

While Shiba’s initial release as a meme coin attracted speculative investors—and it certainly lived up to the hype—Ryoshi’s comments and attitude toward growth have helped to attract and build a community of like-minded individuals. They have since taken the reigns and driven the vision of Shiba forward to create a flourishing and decentralized ecosystem.

When he left Shiba, Ryoshi deleted all of his tweets and blog posts, except one posted titI am Ryoshi, which lays out the vision for Shiba that had emerged over the years where it has evolved from a meme coin into an ecosystem with four tokens and a plethora of utility.

The Tokens of The Shiba Inu Ecosystem

To look at the Shiba Inu ecosystem requires an understanding of its tokens, of which there are four.

• Shiba Inu, $SHIB
• Bone, $BONE
• Leash, $LEASH
• Treat, $TREAT

In the table below we’ve summarized the supply and purpose of each of these tokens here, before diving deeper further down the page.

The Shiba Inu Ecosystem and its Components

All of the above tokens have utility within the Shiba Inu ecosystem, which has grown to include a whole host of protocols and facets as the community has expanded its reach into the world. Here, we’ll look at each of these elements of the world of Shiba.

Shibarium: An Ethereum Layer 2

Shibarium is a sidechain of the Ethereum network that runs its own proof-of-stake consensus, offers faster and cheaper transactions than the Ethereum layer 1, and aims to be a truly decentralized network.

$BONE is the primary gas token of this network, and validators stake Bone to be able to run their nodes. Bone token holders can also stake their tokens to a validator to earn a share of rewards.

This layer 2 is based on the Ethereum Virtual Machine (EVM), meaning that it is compatible with all Ethereum standards and tools, making it easy for developers to start building on the network or, if they wish, to port their dApps over from Ethereum to Shibarium.

70% of each transaction’s base fee of $BONE is swapped for $SHIB, which is then burned.

The Shibarium network is to play host to many of the Shiba ecosystem’s dApps and utility applications described below. It launched an address naming service in late 2023 and has even partnered with Shiba Inu-themed restaurant burger franchise Welly to use Shibarium for farm-to-table tracing; it also accepts SHIB as payment through the Shibarium network.

Shibaswap: A DEX

The Shibaswap DEX is an AMM-style DEX that operates on the Ethereum network and was the first project developed in the Shiba ecosystem, providing Shiba holders with a place to swap their tokens. It started as a fork of the Sushiswap DEX, one of the best DEXes of 2024, and features its own “little twists and elements.”

It is a fully decentralized exchange and was the place where the $BONE token was issued, with a starting supply of 0, and users providing liquidity and staking tokens to earn BONE. Shibaswap was also the birthplace of the Shiba Doggy DAO, which now helps to guide many elements of the Shiba ecosystem.

It is said that Shibaswap will eventually be migrated to the Shibarium layer 2, and it currently ranks #63 of all DEXES, with a TVL of $24.7m.

SHIB The Metaverse

The SHIB Metaverse is currently under development and follows the model of many of the top metaverse projects by selling LAND NFTs that represent plots of LAND in the metaverse that can then be customized by their owner.

The SHIB token will be launched on Shibarium, and the $SHIB token will be the main form of payment for metaverse items. Holders are currently able to use $SHIB to add pictures or logos to their land plots, pay in $SHIB to rename their land plots, and use $SHIB to lease the many and widely themed public gathering spaces in this metaverse.

Shiba Inu Games

Shiba Inu Games was started by Shytoshi, the anonymous developer of Shibaswap, and has collaborated with Australian game developers Playside Studios to develop their products. The first game, Shiba Eternity, is already available for Android and Apple mobile devices and is a competitive, Shiba-Inu-ecosystem-themed card game.

While available, this game has not yet been integrated into the blockchain. However, when it does, it will also integrate the Shiboshi NFTs and play-to-earn elements.

Shiboshis NFT Collection

The Shiboshis NFT collection of 10,000-pixel art Shiba Inus was created in October 2021 and provides users with numerous benefits in the Shiba ecosystem—not just enhancing their character’s attributes “above the base level” in the Shiba Eternity game.

Shiboshi holders get membership to the Shiboshi Social Club, which comes with exclusive benefits, such as direct communication with the development team, privileged information and news about Shiboshi developments and releases, and input on the design.

Users can name their Shiboshi, and names can be changed for 100 USD worth of SHIB. Recently, the team also released another collection the complimentary SHEboshi NFT collection—with the SHEboshi release blog post hinting at a future coming together of these NFTs to unlock “endless possibilities.”

Other Elements of the Shiba Inu Ecosystem

The above are the main elements of the Shiba Inu ecosystem and those that are most likely to affect the $SHIB token price and, therefore, the most likely to have an impact on our Shiba Inu price prediction.

However, this expansive community doesn’t just limit itself to blockchain-based products. Here are some of the other offerings from the Shiba community, blockchain-based and not:

• Shibacals: White label service for products with built-in NFC chips which can be put to use to combine the physical and digital worlds.
• SHI Stablecoin: A proposed algorithmic stablecoin that would be pegged to 1c. Aiming to be properly decentralized by not relying on third-party oracles. Last slated for release in mid-2022, SHI is still in the works.
• Shiba Inu Rescue Association: With their love for the Shiba Inu breed of dog, some community members in the USA started the Shiba Inu Rescue Association to rescue and rehome real Shiba Inu dogs.

Tokenomics and Utility of the $SHIB token in the Shiba Ecosystem

The tokenomics of the Shiba Inu token are relatively simple:

• 50% of the supply was locked as Uniswap liquidity, with the wallet keys destroyed so that they could not be removed.
• 50% of the supply was gifted to Vitalik Buterin, who then donated 50 trillion to the India Covid Relief fund, burned 90% (40% of total supply) of the remainder, and promised to send the rest to charity.
• According to CoinMarketCap, 58.9% (589 Trillion $SHIB) are still in circulation, meaning that 41.1% of the supply has been burned—this can be confirmed on the SHIBBURN website that monitors the burning of $SHIB.Token burns are a part of the Shiba Inu ecosystem and a regular occurrence. Due to its outlandishly—or meme-ably—large token supply, token burns have very little price impact due to the low level of demand when compared to supply.

In terms of utility, the Shiba Inu token has multiple use cases in the Shiba ecosystem. These include:

• As payment for changing the name of a Shibtoshi
• Staked on Shibswap to earn $BONE
• Accepted as payment at the Welly restaurant in Naples and at other online vendors
• As payment for adding pictures or logos to land plots in the SHIB Metaverse
• As payment for naming or renaming a land plot in the SHIB Metaverse
• Used to lease HUBs (public spaces) in the SHIB Metaverse
• As the primary token and currency of the Shiba ecosystem, it is expected that the $SHIB token will gain multiple use cases as the ecosystem continues to evolve and expand.

Factors Influencing Shiba Inu’s Price

As a former meme coin, a layer 2 on the world’s most popular smart contracting platform, and a network with a laser focus on maintaining decentralization, Shiba Inu and the Shiba ecosystem are affected by many factors.

Here we summarize the major ones of those.

• Crypto Regulations: As a former meme coin and an ecosystem with a focus on decentralization, Shiba may find itself on the fringes of global crypto regulations that fight to keep control of the financial system and bring decentralized blockchain under its control. The effect of these regulations will also depend on the people’s sentiment toward those in power and the way that power is wielded in the years to come.
• Product Launches: The Shiba ecosystem is developing on many fronts including scaling solutions, gaming, DeFi, real-world products, and the metaverse, to name a few. As product launch dates approach tokens typically see positive price action in anticipation of these events. Likewise, token prices also drop off afterward.
• Ethereum Upgrades: Upgrades to Ethereum that focus on improving the resilience, throughput, and operation of layer 2s are all likely to boost the price of tokens built on it and layer two networks connected to it.
• Adoption of Shibarium: If the Shibarium layer 2 gains traction amongst users for the many use cases built on it then token demand is likely to increase, which will have a positive impact on the price of $SHIB tokens.
• Token Burns: With over 41% of the token supply already burned, token burning baked into Shibarium gas fees, and the continued enthusiasm for token burning by the $SHIB community, there may be some large ones in the future. While these events might not lead to an increase in price themselves, they might induce speculative buying of the token, which will in turn increase the price.
• Dogecoin: As noted previously, the price of Shiba Inu seems to track the price of Dogecoin quite closely. Therefore, big events in the Dogecoin world—such as the adoption of the token for payments by a dominant social media platform—are likely to have a positive effect on the Shiba Inu price.
• The Wider Crypto Market: While $SHIB is more directly tied to $DOGE in price movements than it is $BTC, this does not mean it is immune to movements in the wider crypto market, which may result from events like regulations, ETF approvals, and Bitcoin Halvings. Expect $SHIB to follow the market trend on the back of these events.

Shiba Inu Price Predictions by Other Experts and Analysts

Below, we’ve collated the Shiba Inu price predictions of various other analysts and experts from around the internet to provide you with a varied overview of the consensus surrounding Shiba Inu.

How to Buy Shiba Inu?

As one of the top meme coins, and ranked #19 overall by CoinMarketCap, Shiba Inu is available on a huge variety of exchanges. However, there’s one place we recommend above all others for buying $SHIB, and that is the MEXC exchange.

Why Use MEXC to Buy Shiba Inu?

The MEXC crypto exchange was founded in 2018, is available in over 170 countries, and boasts an audience of more than 10 million users. It was developed by experts from the banking industry to offer a high-speed (1.4 million transactions per second), high-quality platform equipped with all the tools needed by modern crypto traders.

In addition to spot market trading, with 0% trading fees, MEXC also offers margin and futures trading, with up to 100x leverage. Support for 1000+ coins and 1:1 proof-of-reserve for top assets makes MEXC one of the first choice exchanges for traders who are looking for security and a broad selection of assets.

Regularly posting over $1 billion in trading volume means that traders on MEXC can always enter and exit positions at the price they want, and can do so from their mobile device with the MEXC app for Android and iOS.

How to Buy $SHIB on MEXC

• Create a free MEXC account
• Fund your account using your preferred method, debit/credit card, bank transfer, and P2P purchases are all available (users can also use Apple and Google Pay through third-party payment providers)
• Head over to the Spot Market page on MEXC
• Search for SHIB in the search bar in the top right-hand corner and select your preferred trading pair
• Enter your order in the module at the bottom of the page and hit “Buy SHIB”

Bottom Line for Shiba Inu Price Prediction

Based on the detailed analysis and predictions for Shiba Inu’s price over the coming years, several key conclusions can be drawn. In 2024, positive momentum is expected, driven by events like the Bitcoin Halving and Ethereum upgrade. This, coupled with improvements in the Shiba ecosystem, such as with Shibaswap and Shibarium, contributes to a positive price prediction for 2024, with a potential high of $0.000062.

This upward trend looks set to continue into 2025, after which a price correction is expected, with lows of $0.000025 expected by 2027.

Beyond 2027, projections indicate highs of $0.000220 in 2029 and $0.000180 in 2030. While short-term fluctuations and market dynamics may influence Shiba Inu’s price trajectory, the long-term outlook remains cautiously optimistic, with the potential for significant growth in the coming years.

What Shiba Inu has going for it is its diversity of offerings—from a metaverse to a DEX to white-label NFC merchandise—a passionate community, a well-known brand, and a history of delivering on its development plans (albeit later than expected). Plus, its laser focus on decentralization has the potential to serve it well over the long -term.

Overall, the world’s second-biggest meme coin—with a market cap 7x larger than the next largest, Pepe—should not be discounted by anyone.

FAQs

Will Shiba Inu Recover?

As the second largest meme coin and a widely recognized coin offering a wide variety of use cases, Shiba Inu has a high likelihood of recovering in the next bull run. However, we don’t expect it to be hitting new ATHs any time soon.

Is Shiba Inu a Good Long-Term Investment?

As a former (and current) meme coin, Shiba Inu is widely viewed as a speculative asset. However, those who believe in its long-term potential tout the growing utility and future potential of the Shiba ecosystem as to why they believe so.

Risks and Considerations in Shiba Inu Investment

As a meme coin Shiba is considered to be a high-risk investment. Despite all its achievements, it is still being developed by an anonymous team. However, the more utility it gains the more investors are starting to take it seriously.

Will Shiba Inu be the Next Bitcoin?

With over 500 trillion tokens in existence, it is quite impossible for Shiba Inu to be the next Bitcoin. If Shib were to go up 10,000x today it would worth more than the whole of the S&P stock index—currently valued at $41 trillion.

References

• Ethereum ETF Approval Expected in May, Standard Chartered Predicts – Bloomberg.com
• Ether is Poised For an ETF Approval in May, But the Crypto’s Price Action May be Subdued – CNBC.com
• Cryptocurrency Regulation: Rules are in Development – Britannica.com
• Shiba Inu – CoinMarketCap.com
• Shiba Inu Plans Shibarium’s Public Restart Days After Botched Launch – CoinDesk.com
• Shibarium Relaunch Saw Saddling up Significant Number of Wallets – CoinMarketCap.com
• The SHEboshis Have Arrived: Unleashing a New Era of NFTs – Shib.io
• FROM SHIB WITH LOVE – Shib.io
• Top Memes Tokens by Market Capitalization – CoinMarketCap.com
• I am Ryoshi – Medium.com
• Defining the Future of Shibdentity: Introducing Shib Name Service – Shib.io
• Shibarium and Welly Kick off Burger Franchise to Improve the Fast Food Experience with Blockchain – GlobalNewswire.com
• Dexes TVL Rankings – DeFiLlama.com
• THE SHIBOSHIS – OpenSea.io
• Shiba Inu Plans to Launch Stablecoin, Reward Token, Collectible Card Game – CoinDesk.com
• Shiba Inu Rescue Association – SavingShibas.com
• Vitalik Buterin’s Ethereum wallet holds $8 billion in Shiba Inu coin (SHIB) – CryptoSlate.com
• Vitalik Buterin Burns $6B in SHIB Tokens, Says He Doesn’t Want the ‘Power’ – CoinDesk.com

About the Author

Ben Beddow

Ben is a freelance writer with almost a decade's experience writing across multiple industries. He has a passion for, and great understanding of, cryptocurrencies and the underlying blockchain technology, and strongly believes in their ability to change the world. He has been writing on the topic of cryptocurrencies and blockchain technology for over three years.

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