The recent price predictions of Shiba Inu seem to be very encouraging, and so many new investors are beginning to use their money to buy Shiba Inu. You will find in this article Shiba Inu’s price history, predictions, and answers to frequently asked questions like; should I buy Shiba Inu based on its price predictions? And how do I buy Shiba Inu?
Why do people buy Shiba Inu?
An ancient saying states, ‘every dog has its day,’ but the Shiba Inu (SHIB), a dog-based meme symbol, has been having the time of its life for the past year. Since this altcoin was introduced to the crypto world, this penny coin named after a Japanese dog breed has incredibly advanced, attracting investors and enthusiasts alike. It even outperformed behemoths like Bitcoin and Ethereum in terms of returns.
SHIB is an altcoin that is very much similar to Dogecoin.
A token is distinguished from a coin because coins have blockchains, whereas tokens are built on top of existing blockchains. SHIB, on the other hand, does not have its blockchain.
It is, instead, a token based on Ethereum’s blockchain. Because popular cryptocurrencies such as DOGE and BTC have their blockchains, they are referred to as coins. BAT, Tether, USD Coin, Binance USD, and other prominent coins that follow the principle include BAT, Tether, and USD Coin.
Shiba Inu’s price history
Nevertheless, no one can deny the SHIB cryptocurrency’s massive rise in 2021, a 26,000,000 percent gain when SHIB was authorized to be sold on major cryptocurrency exchanges, and the meme coin’s popularity exploded, with many asking if it would be able to achieve the value of $1.
In October 2021, the SHIB became a household name, with its price more than twofold. More crypto exchanges began to accept SHIB for listing as its popularity, and market capitalization expanded. Hence, you can buy SHIB from anywhere in the world.
Shiba Inu’s price predictions
The math may surprise you when it comes to SHIB’s potential from here. You would have been a millionaire by the end of the year if you had invested $2.29 in Shiba Inu (SHIB -4.72 percent) on January 1, 2021, and held on. Most investors will never experience a return like this in their whole lives.
The controversial meme coin was the hottest of all the popular cryptocurrencies in 2021, with a gain of 43,800,000 percent. It outperformed its larger brother Dogecoin (CRYPTO: DOGE), which has gained 3,520 percent this year, and Bitcoin, which has only returned 62 percent.
According to the Point and Figure chart, Shiba Inu will reach a bullish zone in the next few months. SHIB’s price is expected to reach US$0.000054 in 2022, according to a forecast. Even when major cryptos forecast larger losses, SHIB shows incredible durability.
Furthermore, the Shiba Inu community participated in a burning exercise last month, transferring a set number of cryptocurrencies to an off-the-market wallet address. Existing Shiba Inu tokens will be in more demand due to this exercise. Even if the coins are still present, they can no longer be utilized.
Should I buy Shiba Inu based on its price predictions?
According to analysts, Shiba is expected to return to historical highs in Q1 2022, with a price estimate of $0.000084, and continue to increase to $0.000088 by Q3 2022. The price predictions of SHIB indicate that its potentials are limitless in terms of profits. Hence, this can encourage an investor to buy SHIB.
They predict that the currency will lose another zero and reach $0.0001 by 2023, representing a 163 percent increase in the following 12 months for SHIB. Therefore, if you have some extra cash lying somewhere, it is the best time to buy SHIB.
How do I buy Shiba Inu?
Before buying SHIB coins, investors should learn how digital currency works, research the various crypto investment options, and weigh the risks. It will be simpler to make informed investment decisions and preserve your portfolio if you know these hazards.
Investors interested in SHIB coins should start by choosing a cryptocurrency exchange, such as ours. Some prominent cryptocurrencies, such as Bitcoin, may be purchased using US dollars, while others require investors to pay with another cryptocurrency. Shiba Inu coins may be acquired and traded inside the Shiba Inu ecosystem using ShibaSwap.
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