Shiba Inu Price
Shiba Inu Price
Shiba Inu (SHIB) is a cryptocurrency that was created as a joke and a tribute to the popular Dogecoin. However, unlike Dogecoin, Shiba Inu has a limited supply of 1 quadrillion tokens, of which 50% are locked in Uniswap and the other 50% are burned to Vitalik Buterin, the co-founder of Ethereum.
Shiba Inu aims to be a decentralized and community-driven project that can empower anyone to participate in the crypto space. Shiba Inu also has its own ecosystem of products, such as ShibaSwap, a decentralized exchange; Bone, a governance token; and Leash, a rebase token that is pegged to the price of Dogecoin. Shiba Inu claims to be the “Dogecoin Killer” and has attracted many fans and investors who call themselves the “Shib Army”.
The Shiba Inu token issuance rate decreases over time through a process called Shib halving. Unlike Bitcoin's fixed four-year halving schedule, Shib halving is dynamic and depends on factors like the number of validators, transaction volume, and network demand.
Shib halving has three major components. First, staking locks up large amounts of SHIB held by validators, securing the network while decreasing circulating supply. This creates scarcity. Secondly, a portion of transaction fees are burned or sent to unusable addresses, permanently removing tokens from existence and inducing deflation. Finally, block rewards for validators under the new Proof-of-Stake model are much lower than miner rewards previously. This lowers overall inflation.
By combining staking, burning, and reduced issuance, Shib halving aims to continuously balance SHIB's supply and demand. Over time, this process is designed to increase the token's value by creating scarcity and stability compared to the previous system's higher inflation rate.
Shiba Inu Price Live
The Shiba Inu (SHIB) price is determined by the supply and demand of the market, as well as the sentiment and hype around the project. You can see the live Shiba Inu (SHIB) price in USD on the chart above, which is updated in real-time. You can also use the chart to zoom in and out, change the time frame, and view different indicators.
The Shiba Inu price today is $0.0000078, with a 24-hour trading volume of $1,058,621,732. Shiba Inu is up 3.5% in the last 24 hours, and has a market cap of $3,091,798,926. The Shiba Inu price has been volatile since its launch in August 2020, reaching an all-time high of $0.0000388 on May 10, 2021, after being listed on major exchanges such as Binance and Coinbase. The Shiba Inu price is influenced by various factors, such as news, social media trends, celebrity endorsements, and market movements.
Shiba Inu chart
The Shiba Inu chart above provides a visual representation of the historical and current price movements of SHIB. You can use the chart to analyze the price trends, patterns, and signals of SHIB, as well as to compare it with other cryptocurrencies or fiat currencies.
The Shiba Inu chart also allows you to use various tools and indicators to enhance your analysis and trading strategies. Some of the tools and indicators available are:
- Trend lines: These are lines drawn on the chart to connect successive highs or lows of the price, indicating the direction and strength of the trend.
- Support and resistance levels: These are horizontal lines drawn on the chart to mark where the price tends to bounce or reverse, indicating areas of buying or selling pressure.
- Moving averages: These are lines that plot the average price of a certain period of time, smoothing out the price fluctuations and showing the overall direction of the price.
- Fibonacci retracement: This is a tool that uses the Fibonacci sequence to divide a price range into ratios that indicate potential reversal points or targets.
- RSI: This is an indicator that measures the speed and change of price movements, showing whether the price is overbought or oversold.
You can also use the Shiba Inu calculator to convert SHIB to other currencies or cryptocurrencies, such as USD, EUR, BTC, ETH, etc. You can enter any amount of SHIB or other currency and see how much it is worth in another currency at the current exchange rate.
The Shiba Inu chart can help you understand how Shiba Inu reacts to different events and factors, such as news, social media buzz, partnerships, developments, and more. You can also compare Shiba Inu with other cryptocurrencies or assets, and see how they perform relative to each other.
Shiba Inu price history
Shiba Inu (SHIB) was launched in August 2020 by an anonymous developer known as "Ryoshi". The project was inspired by Dogecoin, which itself was a parody of Bitcoin. Ryoshi wanted to create a token that could surpass Dogecoin in popularity and value, and named it after the Japanese breed of dog that features as Dogecoin's mascot.
Shiba Inu started with a very low price of $0.00000001 per token, and remained relatively stable for several months. However, in April 2021, Shiba Inu experienced a massive surge in price and volume, reaching an all-time high of $0.0000388 on May 10th. This was partly due to the increased attention and demand for meme coins, as well as the endorsement of celebrities and influencers, such as Elon Musk.
However, on May 12th, Vitalik Buterin donated 50 trillion SHIB tokens (worth about $1 billion at the time) to a COVID-19 relief fund in India, causing a sharp drop in Shiba Inu's price and market cap. Since then, Shiba Inu has been fluctuating between $0.000006 and $0.00001 per token, with occasional spikes and dips.
Shiba Inu price prediction
Shiba Inu (SHIB) price prediction is not an easy task, as there are many factors and uncertainties that can affect the future performance of Shiba Inu. However, some analysts and experts have attempted to provide their forecasts based on various assumptions and scenarios.
Some of the factors that could influence Shiba Inu's price prediction are:
- The adoption and popularity of Shiba Inu among users, investors, traders, and merchants.
- The development and innovation of Shiba Inu's ecosystem, such as its decentralized exchange (ShibaSwap), its NFT platform (Shibarium), and its governance token (BONE).
- The competition and comparison with other cryptocurrencies, especially Dogecoin and other meme coins.
- The regulation and legislation of cryptocurrencies by governments and authorities around the world.
- The market sentiment and psychology of crypto enthusiasts and speculators.
Based on these factors, some possible scenarios for Shiba Inu's price prediction are:
- Bullish scenario: If Shiba Inu can maintain its momentum and community support, attract more users and investors, launch its products successfully, and benefit from positive news and events, it could potentially reach new highs in 2023. Some optimistic predictions suggest that Shiba Inu could reach $0.0001 or even $0.001 per token by 2023.
- Bearish scenario: If Shiba Inu faces technical issues or security breaches, loses its appeal or credibility among users and investors, faces legal challenges or bans, and suffers from negative news and events, it could potentially drop to new lows in 2023. Some pessimistic predictions suggest that Shiba Inu could fall to $0.000001 or even $0.0000001 per token by 2023.
- Neutral scenario: If Shiba Inu remains stable and consistent, with moderate growth and volatility, and balances its risks and opportunities, it could potentially maintain its current levels or slightly increase or decrease in 2023. Some realistic predictions suggest that Shiba Inu could trade between $0.000005 and $0.00001 per token by 2023.