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Will the Shiba Inu Coin make it into the top 10 cryptocurrencies in the future?

 


What is the Shiba Inu Coin?

The Shiba Inu Coin is a cryptocurrency that was launched in 2022 and is a parody of the already established currency Dogecoin. Shiba Inu ironically called himself the "Dogecoin Killer". This alluded to the “bitcoin killer” term for the Dogecoin . The symbol of the cryptocurrency was the Shiba Inu dog breed, but it took on an aggressive form in the Shiba Inu.

Like the Dogecoin, the Shiba Inu coin is a " meme coin ", a fun currency that has no clear utility or function, but still gets a lot of attention from investors. In 2021, the Shiba Inu Coin saw a massive gain in value and was able to climb into the top 15 cryptocurrencies.


What is special about the Shiba Inu Coin?

The Shiba Inu Coin was launched in summer 2020. But after just a few months, the coin experienced massive hype, which put it among the top 15 cryptocurrencies on the market. The 2021 bull market caused the Shiba Inu to experience a price explosion that turned many early investors into millionaires. 


Shiba Inu

The Dogecoin has shown over the past few years how a parody of cryptocurrencies can itself become a respectable cryptocurrency that many investors invest in. Above all, the mention of social media and celebrities can increase the price of these fun currencies massively. This was the case for Dogecoin in the 2017 bull market. In 2021, the same mechanisms would apply to the Shiba Inu.


How much is a Shiba Inu worth?

The Shiba Inu coin recently experienced a massive jump in price. The price gains in the past few weeks at Shiba Inu have been rather small compared to other cryptocurrencies on the market such as ether. However, on August 14, 2022, the coin saw a massive jump in price from $0.000013 to $0.000018. The meme coin rose by over 30% within one day.


The large price jumps are generally not surprising. What was surprising, however, was the timing of the rise. Because in the last few weeks it has been rather quiet around the Shiba Inu. Above all, a bear market usually means that meme coins tend to have a rough time. The renewed strong rise shows that the Shiba Inu coin should remain on investors' radars going forward.


Does the Shiba Inu Coin have a future?

The Shiba Inu coin came almost out of nowhere in 2021 and became the phenomenon in the crypto market. Because many analysts couldn't believe that after the dogecoin's success, there could be a place for another meme coin that could rise to the ranks of the most valuable cryptocurrencies. 


However, the Shiba Inu showed that even parodying parody could trigger massive hype in the market. With the notoriety it has already gained, it is now very unlikely that the Shiba Inu Coin could be forgotten in the future. 


Shiba Inu Coin

Attention is the main currency for meme coins. Since these primarily have no function and do not solve any problems, they must remain in the discussion with investors. Bear markets are therefore particularly dangerous for this type of cryptocurrency. But despite massive losses in recent months, the Shiba Inu has been able to remain stable in the top 20 cryptocurrencies by market capitalization. This ensures he continues to attract the attention of investors.


How high can the SHIB rise?

As a meme coin, the Shiba Inu is a very volatile coin. Meme coins fluctuate much more than other cryptocurrencies. Basically, they are even more risky than other coins on the market. Cryptocurrencies are already risky investments compared to other investments. The order of risk applies:

This makes the Shiba Inu a risky investment. However, the potential for massive price increases is extremely high. So how high can the Shiba Inu coin go in price?


There are many forecasts for the long-term development of the price. It is often said that the price can increase between factors 10x and 100x within a bullish cycle. So, if the price gain is optimal in 2 cycles, we could see a Shiba Inu price of $1 in 5-10 years. 


When will the price of the SHIB go up?

The Shiba Inu (SHIB) price rose again more recently, which shows the unpredictability of the meme coin's price development. It is therefore extremely difficult to predict the timing of a price increase. But we can make some simple predictions based on what we know about the overall market.


We are currently in a bear market in cryptocurrencies. Over the last 9 months, market values ​​have fallen extremely sharply. This happened in the history of the crypto market in 2014 and 2018. As a result, cryptocurrencies were able to stabilize again.

However, a new bull market is always an event that will last for some time. The Bitcoin cycle has been a 4-year cycle for the past few years. A new bull market always began after the respective Bitcoin Halving . This will probably take place in spring 2024. Only then should there be a new long-term bull market.


Therefore, the highest and, above all, sustainable price increases for the Shiba Inu Coin are only to be expected in the years 2024 and 2025. However, we should note that the market remains unpredictable and the cycle can change at any time.


Should you buy the Shiba Inu Coin?

At the moment an investment in the Shiba Inu makes sense from almost every point of view. However, you should only note that the SHIB is a risky investment and should only be part of your crypto portfolio. We recommend investing 10-15% of your portfolio in one or more meme coins.


At the moment the price for the Shiba Inu Coin is still so low that an investment is extremely worthwhile. So you can now buy the cheap SHIB and hope for a price explosion in the medium and long term.

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