Shiba Inu coin is a meme-based cryptocurrency tagged as a “Dogecoin killer” and has not yet vanished. Will the Shib Coin, on the other hand, ever hit $1?
According to FX Street, the Shiba Inu coin has had a lucky streak recently, surviving a massive drop that other cryptocurrencies have experienced.
According to David Hsiao, CEO of crypto magazine Block Journal, the SHIB coin is rising because of the community. As a result, before investing, investors should keep this in mind.
The Shiba Inu coin, however, still faces specific challenges. According to FX Street, the SHIB coin has received little attention on social media or from speculators. Because cryptocurrencies like Shib and Dogecoin rely on social media excitement for investment, they may lose even more support if the Shiba token starts to fall.
Shib Coin’s second main issue right now is that it is not as easy to buy as Dogecoin, which is available on Robinhood, Coinbase Pro, and other exchanges. As I reported for the Deseret News, there is a drive to get Shiba Inu coins on Robinhood, but it appears to be more of a grassroots effort than anything else.
With a market value of $3.4 billion and a price of $0.0000085 per coin, Shib coin has plenty of room to grow.
According to Market Realist, the SHIB coin is expected to be worth $0.000019 in 2022 and $0.000061 in 2025. That would be a nearly 620 percent increase over the Shib coin’s current value, which may sound like a good time to invest.
Market Realist suggested a strategy for Shib coins to attain $1, a long-held Dogecoin aspiration.
The SHIB coin would have to increase by 12,000,000% to reach $1. Since January, the coin has risen by about 2,000,000% each month. Market Realist predicts it might reach $1 by the end of 2021 if it keeps growing at this rate. Assuming it keeps growing at this rate, it will by 2021.
According to Market Realist, if Shiba keeps growing at this rate, it might hit $1 in 2021. However, if it grows at a rate of 20% per month. It will take five years to reach $1, which would put it in 2025 at the earliest.
Because of Dogecoin, Shiba Inu may also experience some success. According to Yahoo! Finance, SHIB coin has gained traction as Dogecoin has gained traction. According to Yahoo! Finance, the SHIB coin will see more of these possibilities as investors may want more money invested into the cryptocurrency due to a “sympathy trade”. Moreover, Shiba Inu’s current market capitalization is roughly $3.9 billion. Dogecoin’s current market, o the other hand is $55.5. Some traders may be ready to wager that Shiba Inu will bridge the gap if it gets more popular.