What is the Shiba Inu Coin?
The Shiba Inu coin is a relatively young cryptocurrency that falls under the group of meme coins. These are purely fun currencies that make fun of other coins. The Shiba Inu is a parody of the Dogecoin , the first meme coin ever. However, meme coins have become serious objects of speculation in recent years and have seen extremely high increases in some cases.
The Shiba Inu Coin has an aggressive looking Shiba Inu dog as its symbol. The Shiba Inu is also the well-known symbol of the Dogecoin, which is a well-known meme of a confused-looking dog. From being a pure parody of the Dogecoin, the Shiba Inu Coin has evolved into a serious coin for investing through massive social media distribution and strong price increases.
How has the Shiba Inu course moved in the last few months?
In 2021, we have seen massive gains in the Shiba Inu course. The Shiba Inu price exploded to an all-time high of 0.000088 US dollars at the end of October. Then, however, the bear market set in and the Shiba Inu coin was suddenly only worth 0.000034 dollars at the turn of the year.
In 2022, the coin continued to fall. In January in particular, we saw more heavy losses before the Shiba Inu coin stabilized in value again. Then in May there was another heavy loss. In June, the Shiba Inu then fell to a 2022 low of $0.0000077. In the last few weeks, the price has tended to move sideways.
At the moment (end of September 2022) the Shiba Inu price is at $0.000011. With that, the Shiba Inu coin has lost about 88% in the last few months. If we take the June low to calculate the losses, the Shiba Inu coin lost about 92%. This meant that the losses were much heavier than with most other well-known cryptocurrencies.
Why is the Shiba Inu coin so popular and appreciated so much?
The Shiba Inu coin was relatively unknown for a long time in 2020, although the bull market has already started and cryptocurrencies like Bitcoin have already started to rise in the second half of the year. But at the end of spring 2021 we saw the first massive price explosions. With the spread of memes via social media, more and more people invested in the meme coin, causing the price to explode.
Meme coins like the Shiba Inu can see extremely strong price increases. The Dogecoin provided a role model for the future generation of meme coins. Extremely large purchase impulses are triggered by the spread of memes via social media and the mentions of people with a large reach. Due to the massive profits, more and more small investors are getting into the coin.
Meme-Coins
Meme coins like the Shiba Inu coin are extremely volatile and can rise and fall in value in a very short time. So these coins are risky investments that have made speculators rich in the past. However, many investors who got in too late also lost money.
Can the Shiba Inu Coin be worth more in the future?
The Shiba Inu coin saw a massive price explosion in the last bull market. But this was the first bull market that the Shiba Inu Coin has experienced. The Shiba Inu took off in 2020, which was perfectly timed for the start of the bull market. Now the Shiba Inu coin is experiencing its first bear market, so the value of the coin has fallen massively in recent months.
The question now remains how the Shiba Inu coin will get through the bear market and whether the coin can actually disappear into oblivion. Because attention is extremely important for a meme coin like Shiba Inu. If nobody notices the coin at the top, the price could hardly rise any more, even in the bull market.
However, the Shiba Inu has now established itself in the top 15 cryptocurrencies by market capitalization. The bear market phase, in which cryptocurrencies make massive losses, is already over. The Shiba Inu has seen similar losses as the Dogecoin, which has already proven itself in recent years.
How much is the Shiba Inu coin worth in the next bull market?
Now let's look at the forecast for the Shiba Inu Coin. Because in the next bull market, the Shiba Inu Coin could increase in value again, bringing investors high profits again. Of course, these climbs are not guaranteed. Meme coins like the Dogecoin and Shiba Inu Coin are extremely volatile and therefore extremely difficult to forecast. High losses are always possible with these coins.
If we look at the rise of the Shiba Inu coin, we see how the Shiba Inu went from a value of $0.00000005 at the beginning of the price explosion to an all-time high of $0.00008. This was an increase by a factor of 1600.
In the bear market, the Shiba Inu price has now dropped to $0.0000077. An increase by a factor of 1600 is not very realistic in the next bull market. In its second bull market, the Dogecoin saw an increase by a factor of 100. This factor seems quite realistic in the second bull market for the Shiba Inu coin.
If we add these numbers together, ideally the Shiba Inu coin could be worth around $0.0008 in the next bull market . That could theoretically be the all-time high in the next bull market (probably 2025).
Should you invest in the Shiba Inu Coin?
An investment in the Shiba Inu coin is definitely an option in the current bear market. Because it is possible that the Shiba Inu coin will be worth a lot more in the next bull market. Nevertheless, the Shiba Inu as a meme coin is of course a risky investment. The Shiba Inu has not yet proven itself through a long bear market and is therefore arguably even riskier than the Dogecoin.
In the past, we have always recommended creating a broad portfolio. 10-15% of this portfolio should also include meme coins. In addition to the Dogecoin, the Shiba Inu Coin is a good choice. A regular investment could actually result in extremely high returns in the years to come.
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