Shiba Inu Coin Price Prediction 2022
Shiba Inu coin is the meme coin which made a household name as the “Dogecoin Killer”. Yes, it is called the Dogecoin Killer because it stole the limelight the Dogecoin gained from Elon Musk’s tweet in 2021. People simply dumped DOGE when they discovered a similar meme coin in town – Shiba Inu.
Despite being similar to a dog-themed coin, the Shiba Inu coin comes with many advanced features like stable coin exchange and completely decentralised trading facilities. Shiba Inu can be used to trade or exchange between stable coins like Bitcoin and Ethereum against fiat money, making it one of the biggest benefits of the meme token. Shiba Inu also gives its users the benefit of managing their crypto wallets independently and refilling funds as and when required in a permissionless manner.
After the 2021 price surge, the Shiba Inu coin became a popular subject among young crypto enthusiasts. So, why is it crashing for the last few months? Read on to know more.
Reason Behind Shiba Inu Price Plummeting
The first reason would be its core, it is a token made on the costly Ethereum blockchain. This means that SHIB gained most of its popularity because of the Ethereum network. Furthermore, the gas cost associated with Ethereum transactions makes SHIB transactions much more costly than it is worth.
Consequently, SHIB does not have many payment use cases, which means, the Shiba Inu coin is not as popular as Bitcoin or Ethereum to be used as a payment method against fiat money.
SHIB has gained 100 times its initial amount in less than 10 months into the market and has lost nearly 90% of its value, since then. Coin burning would not be able to help its price rise much as the supply of this coin is huge. There are hundreds of trillions of coins in circulation and burning coins in such a huge amount would not be an event, any time recently.
Shiba Inu Price Prediction 2022
Even after such negative points to consider, I would say SHIB will never become worthless. It has about 1.7 million holders all across the world, ready to buy any future dip or promote events to spike the coin’s value and excited to see the coin’s development in the long run. So, as per experts, Shiba Inu coin price prediction 2022 shows that SHIB is likely to survive the extensive bearish market and show some growth till the end of the year.
In order to support growth, Shiba Inu has launched their new burn and dig mechanisms in the ShibaSwap network. Here, you can simply burn coins and dig rewards for providing a liquidity pool in the network. It is going to be of great use for the traders now. So, even if SHIB is showing a downwards curve in the first quarter, Shiba Inu price prediction 2022 is destined to rise around $0.00003174 by the year-end, which is 348% of the current price.
Read more shiba inu coin price prediction 2050
Places to buy SHIB:
- Shiba Inu can be bought with real money on platforms like Coinbase, Binance, Crypto.com, Atomic Wallet and KuCoin.
- Shiba Inu can be exchanged for Ethereum through Trust Wallet on the Uniswap network.
Conclusion
There is no rule to be sure about the price swings going to happen in the future. One needs to take risks and invest in the crypto market. So, according to Shiba Inu coin price prediction 2022, SHIB can be a promising coin to invest in, even though it is being hit hard by the bearish trends. Read more cryptocurrency News, digibyte price prediction.
