Shiba Inu (SHIB) Price Prediction • 2024 to 2030 • Benzinga (2024)

Shiba Inu (SHIB) is the second-largest meme coin in the world and a widely recognized altcoin in the cryptocurrency industry. Behind only its inspiration, Dogecoin, Shiba Inu has towered over hundreds of "real" cryptos for more than a year. The ecosystem’s native token, called SHIB, has a reputation for returning astronomical gains during bull markets, leaving many wondering whether right now is an ideal time to accumulate SHIB at dirt-cheap prices.

From the murky valleys of the mid-2021 bear market to the zenith of SHIB's all-time high in November 2021, Shiba Inu shot up by an astronomical 600%! This was only part of it's absurdly quick rise to the top. The Shiba Inu explosion even made an astoundingly lucky investor into a billionaire from a mere few thousand dollars within a few months.

However, is this time different? Will Shiba Inu reclaim the spotlight in 2023 once market sentiment reverses and mainstream investors flood the market? Delve into these queries and more as we delve into a comprehensive outlook on the future price predictions of Shiba Inu, both in the short and extended run.

What is Shiba Inu?

Before you jump into a Shiba Inu price prediction, you should learn the basics of the token, what drives its success and its fundamental structure. Shiba Inu is a decentralized cryptocurrency created in 2020 by an anonymous entity under the pseudonym Ryoshi. The project explicitly refers to itself as a meme coin and was created as a direct competitor to Dogecoin – aka doge-killer. SHIB is an Ethereum-based ERC-20 token named after the Shiba Inu dog, which serves as the project’s symbol currency.

Unlike many other dog-themed cryptocurrencies such as DOGE, SHIB is constructing an entire ecosystem around itself which includes a decentralized exchange and staking platform named ShibSwap, a free-to-play collectible card game, an NFT collection and more. It's even in the process of creating it's ShibaSwap is likely it's best asset for the time being as it lets users stake $SHIB and the other tokens in the Shiba Inu ecosystem ($BONE and $LEASH) to earn significant interest (though there are risks when staking). This mission differentiates SHIB from other meme coins that are widely considered parodies or inside jokes rather than digital products with real utility.

Despite being born from the idea of just being another meme coin, over time Shiba Inu has developed a thriving community. Shiba Inu supports the brilliant members of the #ShibArmy by creating an environment that encourages activity and progress. Namely, the Shiba Inu Incubator was developed to aid users in locating the resources necessary to realize its artistic visions.

Shiba Inu Market Position

As of early 2023, Shiba Inu’s market capitalization is approximately $6 billion. Shiba Inu still trails Dogecoin, with a market capitalization of approximately $12 billion. Shiba Inu is beloved by many enthusiasts in the cryptocurrency space and tends to dominate social media feeds during euphoric times in the market.

Shiba Inu’s growth is largely predicated on market sentiment and hype. During extremely fearful times, Shiba Inu underperforms; however, during euphoric times, Shiba Inu has the potential to explode in popularity.However, this also requires a spark

Moreover, when analyzing Shiba Inu’s market position it's important to distinguish between market capitalization and price. SHIB’s low price can be deceiving to new investors, causing them to inaccurately gauge SHIB’s price potential. Market capitalization is calculated by multiplying the total circulating supply of coins by the current market price of a single coin. It measures the total value of a cryptocurrency on the open market and can be useful for determining growth potential.

At the time of writing, SHIB’s price is roughly $0.000013. Therefore, if SHIB were to reach $0.01, investors would experience a return of over 700x. However, more importantly, to reach $0.01, Shiba Inu would need to reach a whopping market value north of $5 trillion. This value is greater than the market value of Apple, Google and Bitcoin combined. As a result, when making realistic price predictions, it’s paramount to take into account market capitalization.

Changelly’s Bullish Long-Term Shiba Inu Price Prediction

Changelly has a useful price prediction tool that can be used to predict the future prices of Shiba Inu and many other digital and physical assets. ​​It offers a wide range of forecast data that it derives through artificial intelligence and market research. Overall, Changelly suggests that Shiba Inu’s price should increase over the next few years, although not without risk.

Moreover, it is important to note that historical performance does not predict future performance. Prediction tools can be useful; however, they are by no means accurate, especially for longer-term predictions. For a more thorough prediction, it is important to consider both historical price performance and the macroeconomic backdrop, among other factors.

2023 Shiba Inu Price Prediction

Based on Shiba Inu's past price history, analysts predict that the minimum price of SHIB in 2023 may be about $0.0000176, with a maximum expected price of around $0.0000212 and an average trading price of $0.0000182. This indicates a potential return on investment of over 50% based on the current prices.

2025 Shiba Inu Price Prediction

Changelly has an optimistic outlook on Shiba Inu in 2025. The minimum SHIB price is predicted to fall to $0.0000356 in 2025, while its maximum price could be $0.0000447. Changelly expects it to trade at about $0.0000367. From current prices, this would be over a 200% ROI.

2030 Shiba Inu Price Prediction

While 2030 may seem far away, Changelly still has managed to provide price predictions for Shiba Inu. Note, it is important to take this prediction with a grain of salt given how far it is in the future. This prediction also assumes that the cryptocurrency market and Shiba Inu will still be relevant.

Changelly predicts Shiba Inu will be traded for at least $0.000218, with a possible maximum of $0.000274. As a result, on average, you could expect the SHIB price to be around $0.000224 in 2030, which would yield a colossal return of over 2000%.

Matthew Harry’s Bearish Long-Term Shiba Inu Price Prediction

Matthew Harry is the head of funds at DigitalX Asset Management and has over 15 years in traditional financial markets and five years in the nascent digital asset and blockchain technology-related markets.

Harry is extremely pessimistic about SHIB’s future and believes that SHIB will lose all value within the next three years. “This market is maturing and things like SHIB will die as capital begins to flow to quality and value rather than being scattered across the field in the hope that every player wins a prize. That's not how things work. Hype dies, value rises,” Harry stated in a report.He isn't the only one expecting a crash fro Shiba Inu, but so far, SHIB has held steady as well as most altcoins through the last bear market.

Where to Buy Shiba Inu

Shiba Inu is a popular crypto so it can be traded on major exchanges such as Coinbase, eToro,WeBull,UpholdandGemini. Many of these platforms allow you to purchase Shiba Inu using your credit card, through swapping features or through different trading pairs such as SHIB/USDT.

How Long Will It Take for Shiba Inu to Reach ATHs?

Like the overwhelming majority of altcoins. Shiba Inu’s ability to reach its ATHs is largely dependent on the performance of Bitcoin. Bitcoin is the flagship of the cryptocurrency space, possesses significant first-mover advantages and maintains a dominant market position.

Most experts, such as Benjamin Cowen, believe the bull market could be revived by the end of 2023, which would set the stage for Shiba Inu to increase in price. However, these forecasts are purely speculative and are based on the views of market analysts. It is impossible to precisely foresee how prices will fluctuate in the future.

Another key determinant of the crypto market’s trajectory is Bitcoin halvings. Most investors believe the value of Bitcoin, and therefore many popular altcoins, will increase and may achieve greater growth between now and its fourth halving in 2024. This is another time period in which Shiba Inu could reach its ATH of $0.00005.

Even if all of these determinants play out in the favor of Shiba Inu, it still may not be able to reach its all-time high. It would likely still need to build an exorbitant amount of hype similar or greater than it had when it hit its current ATH. Shiba Inu investors will have to leave it to influencers and celebrities like Elon Musk to build this hype.

Where to Store Shiba Inu Safely

Convinced by a bullish Shiba Inu price prediction and decided to invest? Now you need to learn how to store it safely. Both a hardware wallet and a software wallet can be used to store Shiba Inu. Generally speaking, hardware wallets are regarded as the most secure way to store Shiba Inu. With a hardware wallet, the only person who can access your crypto is you because it keeps your private keys offline.

Software wallets enable crypto holders to securely store their digital currencies and tokens in one place. These types of wallets allow users to buy, swap, lend and earn cryptocurrency in an efficient manner. The Coinbase Wallet is an example of a software wallet.

Best Hardware Wallet: Ledger

Ledger claims to offer the highest level of protection for crypto assets, making it an excellent option for a hardware wallet. It offers 3 different wallets: the Nano X, Nano S Plus and the Stax. Any of these wallets use the same certified secure chip, making sure your wallet is essentially invulnerable to cyberattacks. In addition to Shiba Inu, Ledger hardware wallets are compatible with more than 1,800 altcoins including Ethereum (ETH), Dogecoin (DOGE), Chainlink (LINK) and all ERC-20 tokens.

Best Software Wallet: ZenGo

ZenGo is one of the most secure mobile crypto wallets in Web3. Leveraging MPC technology, ZenGo removes the vulnerability of the need for a private key, making it much more secure than traditional crypto wallets. ZenGo allows users to buy, sell, send and receive Shiba Inu and securely connect to Web3 dApps.

Current Crypto Prices

The cryptocurrency market is inherently volatile, often fluctuating by large amounts within a short period of time. Prices are extremely volatile as a result of their reliance on investor sentiment and market emotion. As a result, prudent investors will actively follow the prices in the cryptocurrency market. Take a look at the live prices of cryptocurrencies below.

So, Is Shiba Inu a Good Investment?

In conclusion, if you are a daring investor with a bullish outlook on Shiba Inu's future, now may be the time to lay the foundation for a long-term position in the coming months. Shiba Inu presents a thrilling yet perilous investment opportunity, with the potential for a life-altering reward.

As the second largest meme coin, a notable player in the top 15 cryptocurrencies by market capitalization, and a force to be reckoned with in the Web3 arena, Shiba Inu boasts a powerful social presence. However, given both the inherently volatile nature of cryptocurrency and the speculative nature of Shiba Inu, prudent investors will only invest money they are willing to lose.

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