Shiba Inu (SHIB) has been one of the most talked-about Cryptocurrencies since its meteoric rise in 2021. This dog-themed meme coin gained a massive following and saw massive price spikes thanks to community hype. However, the question on every Shiba Inu investor’s mind is – what does the future hold for SHIB in 2024 and beyond? In this Shiba Inu price prediction article, we’ll provide expert forecasts speculating on Shiba Inu’s price action, technical analysis based targets and much more.
Shiba Inu coin was created in August 2020 by an anonymous founder named Ryoshi. It started off as a meme token themed after the Shiba Inu dog breed and the popular “Doge” meme. The project gained significant popularity in 2021 partly due to its association with Dogecoin. Shiba Inu calls itself the “Dogecoin Killer” and aims to surpass DOGE in market capitalization.
SHIB runs on the Ethereum blockchain and has a circulating supply of 589,290,637,791,640 Shiba tokens and a total supply of 589,534,720,109,986 SHIB tokens. The project has grown to become an ecosystem of tokens including LEASH and BONE. A key driver of the Shiba Inu ecosystem is the Shibarium layer-2 solution currently under development.
SHIB Overview
Today (13 September 2024) SHIB (SHIB/USD) is trading at $0.00001 per SHIB, with a market cap of $7963957701 USD. 24-hour trading volume is $135805228 USD. SHIB price has changed by 0.1% in the last 24h. Circulating supply is 589269559995441 SHIB.
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Shiba Inu price movements over the years
Launched in August 2020, SHIB was practically worthless for its first year. It traded for a tiny fraction of a cent through mid 2021. However, the meme coin saw a massive rally in May 2021 along with the rest of the Cryptocurrency market, jumping from $0.00001 to an all-time high maximum price of $0.000088 in October. This price surge gave SHIB a market cap of over $40 billion at peak.
Shiba Inu Cryptocurrency entered 2022 trading for about $0.00003 after cooling off from its October 2021 highs. However, it declined further amid the 2022 Crypto winter and Shiba Inu prices traded between $0.000007 to $0.00001.
Shiba Inu token reached an 2022 low at around $0.000007 after falling 91% from its former maximum price. In 2023, its trading price only got lower and lower. Shiba Inu’s value hit a bear market low in 2023 at around $0.00000535, shocking the Shiba Inu community. Shiba Inu stands as one of the largest drawdowns in meme coins. After such a frightening fall, investors have since changed their risk tolerance, causing the price of Shib to stagnate around lows.
The current Shiba Inu price in March 2024 is $0.00003 with impressive gains of around 250% so far. But will SHIB go higher? Shiba Inu remains in the top 20 cryptocurrencies by market cap.
Factors affecting Shiba Inu’s price
Shiba Inu, like most cryptocurrencies, is highly volatile and can see huge price fluctuations from hype or external factors. Some key factors that could impact Shiba Inu’s future include:
Speculation and hype: As a meme coin, Shiba Inu’s price is driven largely by social media and community hype which can trigger FOMO spikes and sudden surges. Major exchange listings also boost hype and can have a huge impact on Shiba Inu price.
Shibarium launch: The Shiba Inu ecosystem layer 2 solution aims to offer faster and cheaper transactions which could burn tokens and boost utility.
Macro environment: The crypto market outlook, equities performance, inflation, and other macro factors impact investor appetite for riskier assets and change market sentiment.
Competitors: As a Dogecoin spinoff, SHIB coin competes for investor dollars with other meme coins and exchange tokens like Shiba Predator.
Token burning: Projects that permanently destroy or “burn” tokens could decrease the total supply and have a positive price impact over time.
Shiba Inu rice predictions by experts
There are plenty of experts out there that are willing to provide a Shiba Inu price prediction. The Shiba Inu market is tough to grasp because most of the drivers in this market are based on the latest meme or viral Tweets. In other words, you never know when it can jump in value or when it will fall back down. With that being the background, the experts below have forecasts, but you should be cautious about blindly following investment advice without doing your due diligence.
Cryptonewz
Cryptonewz believes that the price of Shiba Inu should rise over time but in a volatile manner. The experts on the site believe that SHIB will reach as high as $0.000165 by 2030. This isn’t necessarily going to be an easy move, but they think the hype will return to the crypto world sooner or later; Shiba Inu should get some attention before it is all said and done. It is also worth noting that they do not think that SHIB will rise yearly. However, by 2027, they expect the price to appreciate in a much more explicit manner.
Coincodex
Coincodex also believes in its Shiba Inu price prediction that it should continue attracting attention and increasing value yearly. The experts at Coincodex measure potential prices via Internet Growth, Google Growth, Facebook Growth, and Mobile Growth as it pertains to SHIB. The most bullish indicator is growth in the realm of Facebook, with a potential high of $0.000131 in 2025.
Wallet Investor
Wallet Investor expects that Shiba Inu coin price will reach a maximum price of $0.00001058 in 2024. (We have exceeded this Shiba Inu prediction already this year with a current price of $0.00003356 at the time of writing). These are maximum prices, but the high volatility of the digital coin has an unpredictable nature, which means the price could exceed any predicted and even currently realized levels.
Coin Price Forecast
January: Coin Price Forecast had a choppy Shiba Inu price prediction at the start of 2024 for the next several years but believed it would ultimately rise as well. The markets will have up and down years along the way, but the highest projected price was $0.00002813 in 2034 based on their prediction earlier this year.
March: Now after the recent increases in 2024 this prediction for 2034 has been updated to $0.00011899. Additionally, they expect to see an additional ~100% increase until the end of this year, potentially lifting the price to $0.00006961.
It is difficult to predict the price of anything that far out, let alone meme coins. However, we do know that SHIB is currently trading at a higher price than that initial 10 year prediction in 2024.
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Shiba Inu Price Technical Analysis and Price Predictions
Technical analysis
Shib’s price action can be predicted with some degree of accuracy using technical analysis. In the chart below, Shiba Inu Shib price is potentially forming a W-bottom chart pattern. At the same time, the Relative Strength Index In January held at the 50 level. If Shiba Inu price can breach above the neckline of the W-pattern, it could immediately move to $0.00002 once again. We know it did exceed these expectations, as it is currently trading at $0.00003 in March 2024.
SHIB/USD on the PrimeXBT platform.
Shib Price Prediction 2024
At the beginning of 2024, the Shiba Inu prediction started to see a little bit of upward trajectory and has seen an increase in price by around 250% since the beginning of the year. Still, it should be noted that any Shiba Inu price forecast Also has to make a lot of assumptions. While it is easier to make a short-term Shiba Inu price prediction, the reality is that a lot can change quickly. Adoption and general risk appetite will have a major part to play.
Shiba Inu Forecast 2025-2030
The following table is a breakdown of potential returns between 2025 and 2030. However, projecting prices this far into the future presents many problems, and this is, at best, an estimate by various experts. Keep in mind that a short-term Shiba Inu price prediction will be much more accurate, and as time goes on, we could see massive swings in adoption. Shiba Inu growth will be necessary, both in use and in the network, which will be crucial for sustained gains.
| YEAR | MINIMUM PRICE | AVERAGE PRICE | MAXIMUM PRICE |
| 2025 | $0.000036 | $0.000039 | $0.000041 |
| 2026 | $0.000045 | $0.000047 | $0.00005 |
| 2027 | $0.000053 | $0.000056 | $0.000058 |
| 2028 | $0.000062 | $0.000064 | $0.000067 |
| 2029 | $0.00007 | $0.000073 | $0.000075 |
| 2030 | $0.000079 | $0.000081 | $0.000084 |
What news may impact the future Shiba Inu coin (SHIB) price?
Fundamentals do not necessarily drive the price of Shiba Inu tokens. Because of this, the price movement in the future is going to be more likely than not to be dependent on social media hype. Elon Musk could send out a Tweet to drive the price, and TikTok could suddenly see a push higher or something like that. The noise around this market is substantial, so there is no real reason to think anything will change anytime soon.
However, the Shiba Inu coin sits on top of the Ethereum network, so there is the possibility of adoption as it can support smart contracts. This is a possibility; however, it does not guarantee anything good will happen.
Conclusion: Is Shiba Inu a Good Investment, and How Much Will SHIB Be Worth?
In the future, it won’t be easy to grasp what Shiba Inu can do fully. Shiba Inu is basically for speculation at this point, as it doesn’t necessarily have a real-world use yet. It can carry smart contracts on the Ethereum network, sitting on top of it. That gives it some hope, but unfortunately, it is yet another coin in the ocean of crypto that is out there.
While Shiba Inu could end up panning out, the reality is that it should be thought of as a very speculative part of any crypto portfolio. It is not a significant investment for serious traders, but it could sometimes provide massive returns. It also has to be something you should be comfortable losing your entire investment with because quite far unproven.
In the future, Shiba Inu will desperately need some type of “hype” surrounding it. This is true with most “meme tokens,” not just Shiba Inu. Until the entire crypto market turns around, it’s doubtful that Shiba Inu will hold on to gains.
Disclaimer: “*This price prediction is based on the data collected from various sources. This should not be considered an investing parameter; users should do their own research before investing. PrimeXBT is not endorsing these predictions but presenting them for educational purposes only.”
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