Shiba Inu Price Prediction 2023, 2024, 2025, 2030

Shiba Inu is a meme coin that launched in 2020 and exploded into the public eye during the last bull market. The token reached a staggering $44 billion market cap in 2021 but has lost much value since.

However, the Shiba Inu team has proved resilient, implementing countless improvements to the project, taking Shiba Inu from an average meme coin to a thriving DeFi ecosystem. This Shiba Inu price prediction forecasts the SHIB price between 2023-2030, looking at its utility, tokenomics, community and much more.

Shiba Inu Price History

Shiba Inu launched in August 2020 with an initial price of $0.000000001009, according to CoinCodex. The price first pumped in May 2021, reaching $0.00003791. SHIB’s initial pump was caused by a 457% rise on May 10.

Following the first ATH, the price quickly corrected and consolidated around $0.0000065 to $0.000008 until September. However, Shiba Inu began to explode in September, climbing over 1200% in one month to its ATH of $0.00008845.

Since reaching its ATH, the SHIB price collapsed quickly, eventually finding support at $0.00000802. However, the recent saga regarding the SEC suing Binance and Coinbase has caused the price to break below the support.

The price then briefly touched its low of June 2021, followed by a recent bounce, as seen on the Shiba Inu price chart below.

The total Shiba Inu supply is 589,590,871,312,039 SHIB, and it currently has a $4,225,473,532 market cap.

Shiba Inu price history key points:

• Shiba Inu launched in April 2020 for a price of $0.000000001009.
• On May 10 2021, SHIB soared 457% in one day, reaching $0.00003791.
• The price reached its ATH of $0.00008845 in October 2021.
• Currently, Shiba Inu is priced at $0.000007169, -91% from its ATH.

Shiba Inu Price Prediction 2023

As mentioned, Shiba Inu is currently trading at a key long-term level. Therefore, we expect the broader market conditions to play a significant role in the performance of SHIB this year. If the market performs well, we will see it bounce, but another leg down will cause Shiba Inu to break below the support, creating new lows.

However, despite the SEC’s crypto crackdown, the crypto market sentiment currently is bullish.

Firstly, Hong Kong recently opened the nation to crypto adoption, enabling retail investors to buy crypto on exchanges. In fact, in recent days, the Hong Kong government has been pushing banks to allow crypto transactions.

Also, the world’s largest asset manager, Blackrock, has filed for a Bitcoin exchange-traded fund (ETF) and has been acquiring the MicroStrategy MSTR stock.

Finally, the latest macroeconomic data from the US shows that the economy is slowly recovering from inflation. The newest emergence was the Fed pausing rate hike increases, an apparent sign inflation is curbing.

Overall, these signs show that institutions and some governments are bullish on crypto and that the economy is improving, decreasing the chance of a further crash for crypto markets.

With this in mind, we expect Shiba Inu to bounce from its current level. However, with the Bitcoin halving still 300 days away, a break above the recent trading zone seems unlikely. Instead, Shiba Inu will likely range for the rest of the year.

Therefore, our Shiba Inu price prediction estimates a possible low of $0.000005086, a high of $0.000015686 and an average price of $0.00001038 by the end of 2023.

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.

Shiba Inu Price Prediction 2024

As mentioned, the Shiba Inu developers have taken the project from a meme coin to a thriving ecosystem.

In addition to SHIB, multiple other tokens, such as BONE and LEASH, are a part of the Shiba Inu ecosystem. These tokens bring extra value through governance, NFTs and metaverse land, essentially helping support the longevity of SHIB.

Moreover, they are also central to Shiba Inu’s dApps and products, which include a decentralised exchange (DEX) called ShibaSwap, the Shiboshis NFT collection, Shib The Metaverse, the Shiba Eternity P2E game, and most notably, the upcoming layer two project Shibarium.

If you read our Dogecoin price prediction, you will know that Dogecoin pales compared to Shiba Inu regarding ecosystem developments. To a large degree, this is why Shiba Inu is often dubbed the “Dogecoin killer”.

Considering this, we could witness an explosive breakout for Shiba Inu in 2024, particularly with the Shibarium layer two blockchain in the pipeline.

Our key concern regarding the price of Shiba Inu in 2024 is the broader market performance. While the Bitcoin halving is set to occur in April 2024 and macroeconomic factors improving, it is also essential to consider the possibility of poor market conditions, which could significantly suppress the SHIB price.

With this in mind, our Shiba Inu price prediction estimates a possible high of $0.000022826, a possible low of $0.000015686 and an average price of $0.00001925.

Shiba Inu Price Prediction 2025

Currently, the leading cause of excitement in the Shiba Inu community is its Ethereum layer two scaling solution, Shibarium. The layer two solution means users can transact on an Ethereum-compatible chain but with much cheaper fees.

Interestingly, the Shibarium test network, Puppynet, has recently surpassed 20 million transactions from 16 million wallets. With adoption already growing, plus the fact developers will be able to port dApps from other Ethereum-compatible chains to Shiba Inu easily, we could see the ecosystem thrive in 2025.

The main benefit of meme coins is their strong community; if Shiba Inu can leverage its community on the Shibarium chain, we could quickly see it become one of the most prominent layer two projects.

With a current market cap of $8 billion, this could be significantly enhanced by adding a popular layer two project and other elements to the Shiba Inu project.

With this in mind, our Shiba Inu price prediction estimates a bull market peak price of around $0.000068832, with potential lows of $0.000040301 and an average price of $0.00005456 by the end of 2025.

Shiba Inu Price Prediction 2030

Looking ahead to 2030, we will likely see the integration on Ethereum of “dank sharding”. In simple terms, this will aim fully integrate layer two networks into Ethereum to improve scalability and transaction fees.

If Shibarium can grow into one of the prominent layer two projects, and considering the vast range of other developments created by the Shiba Inu team, we could undoubtedly see SHIB gain new ATHs by 2030.

However, one of Shiba Inu’s issues is that much of its price is currently based on hype, community and speculation rather than actual utility. By 2030, the Shiba Inu ecosystem must provide real-world value to holders; otherwise, its price might diminish.

Although the Shibarium test net has seen significant transaction volume so far, it remains to be seen whether this will carry over to the main network launch. Moreover, one of the main USPs of Shiba Inu before Shibarium was its ShibaSwap DEX.

However, ShibaSwap has a TVL of $22.5 million, according to DeFiLlama. In comparison, Uniswap has a TVL of $3.85 billion despite having a market cap of less than 50% of Shiba Inu’s.

While it is marketed as providing utility, the demand for Shiba Inu’s products does not align with its $8 billion valuation. For SHIB to become one of the best long-term cryptos, the adoption of its products must increase.

Provided it succeeds in increasing ecosystem adoption, our Shiba Inu price prediction forecasts a maximum price of $0.0001, a minimum price of $0.000033 and an average price of $0.0000665 by the end of 2030.

Potential Lows and Highs of Shiba Inu Price

While Shiba Inu has already prevailed as one of the top meme coins, it is now making a run to become one of the best altcoins. Below, we have listed the potential lows and highs from our Shiba Inu forecast.

What Do Other Analysts Predict For Shiba Inu

Whether Shiba Inu is one of the best coins for the next bull run is yet to be seen. However, we have summarised Shiba Inu price forecasts from other analysts below to better understand the broader market sentiment.

What is Shiba Inu and What is it Used For?

Following its creation, Shiba Inu flourished into an ecosystem targeted towards DeFi, gaming and metaverse. However, the latest rendition of the ecosystem, Shibarium, is an Ethereum layer two scaling solution focused on blockchain infrastructure.

The project’s token, SHIB, is the utility token to the ecosystem, granting access to exclusive perks. It is used for liquidity on the Shibaswap DEX and will likely be used to pay gas fees on Shibarium.

Shiba Inu Overview

What Influences the Price of Shiba Inu

Although SHIB is a utility token, it derives most of its value from being a meme coin. The project has a colossal community of over 1.2 million holders, yet the ShibaSwap DEX has just $22.5 million TVL.

Similarly to Shibarium, Shib The Metaverse is still unreleased. This shows that there is currently little utility-driven demand for the SHIB token.

The apparent price influencer on Shiba Inu is speculation. Investors will buy SHIB when they speculate the price will increase and sell when they believe it has topped out. Hype and community also play a significant role in speculation since when the hype starts to build; investors feel fear of missing out (FOMO) and rush to buy the coin.

Another influence on the price of SHIB is staking. When users stake Shiba Inu tokens, this is known as “burying”, and they are actually providing liquidity to Shiba Inu liquidity pools. The entire amount of Shiba Inu was minted at its launch, so instead of being rewarded with SHIB, users are rewarded with the BONE governance token.

Essentially, this dries up the available amount of SHIB on the market, and because users are rewarded with BONE, it protects SHIB from excess sell pressure. In other words, staking reduces the available supply of SHIB, reducing sell pressure and helping boost the token’s price.

Is Shiba Inu a Buy

Shiba Inu is taking significant steps toward becoming the first all-encompassing meme coin ecosystem. This puts it top of the list of best meme coins, but the ecosystem is yet to generate much demand. Instead, people mostly buy SHIB due to its roots as a meme coin.

While this could change in the future, particularly with the emergence of Shibarium, it is essential to remember that Shiba Inu remains highly speculative and comes with risk.

Could Wall Street Memes Pump Higher than Shiba Inu?

Tokens that capitalize on other tokens or trends have a pattern of being able to explode upon launch, provided that all of the market conditions are in place. Meme coins like Shiba Inu have proven that it is possible to create a long-term token based purely on the strength of the underlying movement. 

So there is little reason that Wall Street Memes can’t follow in the footsteps of Shiba Inu, despite not having fundamental utility value. After all, Shiba Inu was founded to “experiment in decentralized spontaneous community building,” which is precisely what Wall Street Memes aims to do.

In 2021, the surge in GameStop and AMC stocks’ bull run created a ripple effect in the financial world. This triggered the creation of a new trend in the crypto space: meme tokens. Wall St Bulls, known for their Ethereum NFTs, launched the Wall Street Memes token ($WSM) on 26 May.

Their previous NFT success paved the way for Bitcoin NFTs and meme coins, aligning with top-performing crypto trends. Built on a one-million-strong follower base through their Ethereum NFT collection on OpenSea, the project has solid community backing.

$WSM raised $300k on day one and has now raised over $23 million in just a few weeks. Early buyers can grab the tokens for merely $0.0334 USDT. The project’s hard cap limit is $30,577,000.

Big names like Elon Musk have interacted with the Wall Street Memes Twitter posts. The $WSM token, supported by a robust community, could attract attention from exchanges like Binance. 

Half the two-billion token supply is now in presale, with the entire amount eventually going to trades or community rewards. The token distribution is community-focused: 50% for presale, 30% for community, and 20% for exchange liquidity. This design reduces the risk of market flooding with team tokens, a problem seen with previous meme coins.

Meme coins present risks but can also offer huge upside potential. Platforms with solid community backing usually perform well over the long term. This strong community support may soon translate to listings on leading exchanges.

Moreover, a $50k social media follower airdrop is planned for the presale launch. Interested buyers can join the Wall Street Memes Telegram channel for the latest updates.

Conclusion

Overall, Shiba Inu has a strong community, excellent tokenomics, and a team that is doing a fantastic job of building the project.

However, with a market cap of $8 billion, Shiba Inu has grown significantly, and many other projects could present better upside potential and more utility. With that in mind, check out our top picks for the best cryptos to buy now by following the link.

Cryptoassets are highly volatile and unregulated in most EU countries, Australia and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.

References

• https://www.theguardian.com/technology/2023/jun/06/sec-crypto-crackdown-us-regulator-sues-binance-and-coinbase
• https://www.reuters.com/technology/hsbc-standard-chartered-face-pressure-hong-kong-take-crypto-clients-ft-2023-06-15/
• https://www.cnbc.com/2023/06/16/cryptocurrencies-climb-to-end-the-week-as-investors-digest-blackrocks-bitcoin-etf-plans.html
• https://www.theguardian.com/business/2023/jun/14/fed-interest-rate-pause-inflation
• https://www.coinbase.com/price/shiba-inu

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Elliott Lee

Elliott Lee

Elliott is a British cryptocurrency journalist and copywriter. Having spent the past couple of years immersed in everything crypto, he now spends his time researching the most impactful cryptocurrency trends. He looks for projects with long-term visions and is a huge believer that blockchain technology can solve the world's most pressing issues.

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