Shiba Inu Price Index - Real Time Price Graph
One of the hottest areas in the crypto space is meme coins. Meme cryptocurrencies have gained widespread adoption from investors and traders, and Shiba Inu (SHIB) is one of the leading meme coins and has been described as the Dogecoin killer. This page will analyse the price action of SHIB.
Where to Buy Shiba Inu?
Shiba Inu is one of the leading meme coins and is available on a wide range of broker platforms. There are many options available to traders but when choosing a platform to buy Shiba Inu, ensure you go for reputable brokers as they provide the required security for your investment. You will also enjoy optimum customer service when you sign up with regulated brokers.
A Brief History on the Price of Shiba Inu
The Shiba Inu token has been around for just a brief period but has attracted a lot of interest within the cryptocurrency space.
Key News for Shiba Inu
The Shiba Inu token was developed roughly a year ago and has garnered a lot of interest from the cryptocurrency market during that period. Shiba Inu’s performance can be tied to the broader interest in meme coins.
Dogecoin, the leading meme coin in the world, performed excellently over the past few months. By hitting an all-time high close to $0.7 earlier this year, Dogecoin posted a profit of over 8,000% since the start of the year. The rapid rise in Dogecoin’s price also led to the massive interest in other meme tokens such as Shiba Inu. Meme tokens have become speculative assets that have drawn the attention of investors from all parts of the world.
2021 has been a good year for the cryptocurrency market despite the bearish cycles experienced between May and July. Several cryptocurrencies have hit all-time highs, and the general cryptocurrency market cap has surpassed the $2 trillion mark. As more investors and traders enter the market, the attention is usually on the leading cryptocurrencies such as Bitcoin, Ethereum, Cardano and others. However, investors are also looking at the other altcoins, including the likes of SHIB and Dogecoin.
Shiba Inu Timeline
Shiba Inu is a relatively new coin in the cryptocurrency space as it was launched only a year ago. However, here is the timeline for the cryptocurrency and how it has performed over the past year.
Shiba Inu was launched in August 2020. The cryptocurrency was created by an anonymous developer called Ryoshi, and the coin was modelled after Dogecoin, the leading meme coin. At the time, Shiba Inu was described as the Dogecoin killer. SHIB’s price was negligible at the time of its launch. (SHIB’s price rose from $0.000000000145 to $0.000000000270).
16 April 2021
Shiba Inu remained under the radar but sprung into life by April after the coin got listed on numerous cryptocurrency exchanges. By 16 April, SHIB was listed on MXC and the BKEX cryptocurrency exchanges, pushing its price to $0.00000249 per coin. It was also listed on the Bilaxy exchange on 19 April. (SHIB’s price rose from $0.0000016 to $0.00000249).
22 April 2021
Shiba Inu was listed on three other cryptocurrency exchanges. BitForex, BitMart and Virgox all listed the SHIB token on the same day. However, these listings didn’t affect SHIB’s price positively, as it dropped to $0.00000129 per coin. (SHIB’s price dropped from $0.00000249 to $0.00000129).
8 May 2021
On 8 May 2021, Shiba Inu was listed on one of the leading cryptocurrency exchanges in the world, OKEx. The listing was a major milestone for Shiba Inu and saw the coin trade at $0.000009 on cryptocurrency exchanges. (SHIB’s price rose from $0.00000129 to $0.000009).
10 May 2021
Two days later, the SHIB token was listed on two other leading cryptocurrency exchanges, KuCoin and Crypto.com. By listing the Shiba Inu token, these cryptocurrency exchanges made the coin available to millions of traders globally. Shiba Inu’s price soared to its all-time high of $0.0000388 on 10 May. At the time, SHIB had a market cap of over $13 billion and became the 14th-largest cryptocurrency in terms of market capitalisation. (SHIB’s price rose from $0.000009 to $0.0000388).
13 May 2021
Shiba Inu lost more than 40% of its price, dropping to $0.000018. The decline was majorly caused by Ethereum co-founder Vitalik Buterin donating over 50 trillion Shiba Tokens to India’s COVID-Crypto Relief Fund. The $1 billion donated in SHIBA tokens was taken as an achievement by the Shiba Inu developers, but that didn’t help the cryptocurrency’s price to recover from the dip. (SHIB’s price dropped from $0.0000388 to $0.000018.).
6 July 2021
The Shiba Inu developers launched the ShibaSwap decentralised cryptocurrency exchange. The DEX was designed to compete with other leading decentralised exchanges such as Uniswap and Sushiswap. However, at the time, the crypto market was in a bearish cycle, and SHIBA was trading at $0.00000802 per coin. (SHIB’s price dropped from $0.00000845 to $0.00000802).
May, June and July 2021
The general cryptocurrency market was in a bearish cycle. The prices of most cryptocurrencies had plunged by over 40%. Similar to the leading cryptocurrencies, SHIB’s price had dropped by more than 50% from its all-time high, and it is currently ranked the 49th-largest cryptocurrency by market cap. (SHIB’s price dropped from $0.00000802 to $0.00000628).
Although the cryptocurrency market had begun to recover some of the losses incurred during the summer, Shiba Inu hadn’t performed as well as expected. Its market cap is now above $2.6 billion, and it is trading around $0.000007042 per coin despite the leading cryptocurrencies such as Bitcoin, Ether and Cardano all recovering from their recent losses. The decline in SHIB’s price could be attributed to a general decrease in meme coins within the cryptocurrency space. Traders and investors don’t have as much interest in meme coins as before. However, considering the nature of the cryptocurrency market, the interest might return, and SHIB could resume its rally in the future. (SHIB’s price rose from $0.00000628 to $0.000007042).
Compare Shiba Inu with Fiat Currencies, Commodities and Crypto
Shiba Inu is a leading meme coin, and it powers the ShibaSwap decentralised exchange. Its original design did not intend for the cryptocurrency to be used as a currency or medium of exchange. However, SHIBA has gained adoption from users in the DeFi space and those interested in meme cryptocurrencies. Let us see how well Shiba Inu compares to some fiat currencies, commodities and other cryptocurrencies.
Compare Shiba Inu with US Dollar
The past 18 months have seen the global economy come under pressure due to the Coronavirus pandemic. The values of stocks, commodities, and fiat currencies declined during the height of the pandemic. Fiat currencies also recorded new levels of inflation.
However, cryptocurrencies have performed excellently against fiat currencies such as the US Dollar over the past few months. Shiba Inu is one of the best performing cryptocurrencies in the past year, and it performed excellently against the US Dollar. From its all-time low in November 2020, SHIB is up by 1,2322,220.5% against the US Dollar.
Compare Shiba Inu with Gold
Gold is one of the leading investment vehicles in the world and has served as the preferred store of value for the past few centuries. The emergence of Bitcoin threatens this role as some investors now prefer to hold their money in Bitcoin and other cryptocurrencies ahead of Gold. The profit level generated by Bitcoin and other cryptocurrencies is unmatched across the various financial markets.
Shiba Inu has outperformed Gold significantly over the past year. While SHIBA is up by more than a million per cent in the past year, Gold’s price had actually dropped during that same period. Gold has reportedly lost some of its value to cryptocurrencies as investors decide to leave the precious metal and invest in digital currencies.
Compare Shiba Inu with Ethereum
Ethereum remains the leading altcoin in the world and one of the most important cryptocurrencies. Its performance in the past few months has been excellent, rising by over 300% since the start of the year. However, Shiba Inu had outperformed Ethereum during that period.
Shiba Inu Future Price Predictions
Meme coins have become some of the most highly speculative assets in the cryptocurrency space. They have grabbed the attention of traders and investors in recent months. The launch of the ShibaSwap exchange could also make it a big player in the decentralised exchange space.
Shiba Inu Price Predictions for 2021
The cryptocurrency market has dipped a little over the summer, with prices going down by over 40%. However, while the broader cryptocurrency market has started to recover, Shiba Inu’s price is still down. Shiba Inu could use the remainder of the year to recover its losses and rise towards its all-time high again. While most cryptocurrencies are regaining their momentum after a dip over the summer, SHIB is still trading in the red zone. SHIB could possibly end 2021 trading at around $0.00000050. The coin seems to have lost momentum and there are no scheduled development updates that could help push its price higher.
Shiba Inu Price Predictions for 2022
The cryptocurrency market is highly volatile, and the prices of the assets change swiftly. As such, it is tough to predict how the market or a particular cryptocurrency would perform in the coming months. Regardless, Shiba Inu’s prospects would look better if the meme coins start gaining more attention from investors and traders globally. Dogecoin has a popular figure behind it in the form of Elon Musk. Shiba Inu will benefit greatly if it also has a popular name backing it. Furthermore, increased adoption of its ShibaSwap decentralised exchange could help boost the price of SHIB in the coming year. Shiba Inu’s performance next year could also be tied to the performance of the broader cryptocurrency market.
SHIB might drop below the $0.0000000050 region next year if the meme coins don't recapture the interest of investors. However, it could regain its price above $0.000030 next year if the developers upgrade the project to introduce other features. The ShibaSwap DEX is yet to gain the adoption level required to spur further growth.
Beyond 2022 for Shiba Inu
The past decade has been an interesting one for the cryptocurrency market. Several changes have been seen in the cryptocurrency market, including the introduction of non-fungible tokens, decentralised finance, meme coins and more. These changes have affected how the market has performed in the past decade.
The next few years would be interesting for cryptocurrencies and Shiba Inu. The crypto market is now worth over $2 trillion, and regulatory agencies are looking to regulate how the market operates. The regulatory changes could affect the performance of Shiba Inu and the broader cryptocurrency market over the next few years.
Meme coins like Dogecoin and Shiba Inu received a lot of attention from investors earlier this year. While that interest seems to have cooled down, it could resume again once the market enters another bullish cycle. Meme coins receive a lot of attention from investors due to their highly speculative nature.
It is tough to determine how the cryptocurrency market and Shiba Inu would perform over the next few years. The cryptocurrency space has a history of entering a bearish cycle and staying dormant for a year or two. However, historically, the market has always come out of a bearish cycle performing even better than before. The trend could continue, and Shiba Inu could perform excellently over the coming years.
Beyond 2022, SHIB could trade between $0.0000050 and $0.00050. The cryptocurrency’s price could stay around the lower range if it fails to innovate while it could reach ATHs if it grows and gains further adoption in the coming years.
Shiba Inu Price Conclusion
Shiba Inu has shown over the past year that it is one of the leading meme coins. Investors and traders made a lot of profit from gaining access to the cryptocurrency prior to the bearish cycle that started in May. Shiba Inu’s price could soar higher in the coming months and years if interest in the meme coin sector rises again. Furthermore, the adoption of the ShibaSwap decentralised exchange could make Shiba Inu one of the leading cryptocurrencies in the DeFi sector. Overall, SHIB could develop alongside the meme coin and DeFi sectors.
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Frequently Asked Questions
SHIB is part of a swarm of dog-themed digital currencies and was created by the anonymous developer, Ryoshi. Ryoshi’s identity remains a secret.
According to the Shiba Inu official website, the SHIB is the foundational currency of the platform that allows users to hold millions, billions, or even trillions, of the token in their wallet. The token is a dog-themed meme cryptocurrency and has gained adoption mostly from investors and asset speculators.
At the time of inception, 1,000,000,000,000,000 SHIB were created. However, the developers have burned 40% of all the SHIB tokens, leaving only 60% in circulation. The idea behind this is to increase its value by creating scarcity.
No, there is no mining when it comes to the Shiba Inu token. SHIB is a token hosted on the Ethereum blockchain.
Shiba Inu is a unique cryptocurrency project because it is a meme coin that has grown to also become a decentralised exchange. The decentralised finance sector has grown massively over the past few years, and Shiba Inu wants to become a key player by enabling people to buy and sell coins and tokens with ease. Shiba has also burned 40% of its total token supply.
ShibaSwap is a unique decentralised exchange. It works with three tokens, SHIB, LEASH and BONE. According to their official website, these three tokens come together to create the next evolution in DEX platforms. With ShibaSwap, users can perform several functions such as DIG (provide liquidity), BURY (staking) and SWAP cryptos. Doing so would allow them to gain rewards called WOOF Returns via the ShibaSwap DEX. Furthermore, the ShibaSwap allows its ShibArmy to instantly gain access to NFT and other trading tools like portfolio trackers. Thus, making it easy for investors to navigate the cryptocurrency space.
According to Shiba Inu, the best place to buy the SHIB, BONE and LEASH tokens is through ShibaSwap. However, the tokens can also be purchased on other decentralised exchanges like Uniswap. Furthermore, Shiba Inu is supported by a wide range of centralised exchanges. As one of the top 50 cryptocurrencies by market cap, Shiba Inu is available on a wide range of centralised exchanges, P2P and brokerage platforms. With so many options available, we always recommend traders and investors to buy the SHIB token and other cryptocurrencies from regulated brokerage platforms and cryptocurrency exchanges. Doing so would ensure that your SHIB investment is secure at all times and you don’t lose your funds to scam platforms and hackers.
Properly storing your SHIB tokens could be key to your investment success with the cryptocurrency. After buying SHIB from a regulated exchange or broker, ensure that you store the tokens on hardware or hot wallets that offer high-end security for your investment. Also, we recommend implementing additional security features such as two-factor authentication (2FA) and more, providing extra safety for your investment.