It's quite common for successful projects to see imitators pop up, so it's understandable that the well-known cryptocurrency, Dogecoin, wasn't able to avoid this fate. The creators of the Shiba Inu cryptocurrency tried to repeat Doge's success, which was based on the Shiba Inu dog meme. This article will walk you through important facts about Shiba Inu and Shiba Inu coin price prediction for 2024 and beyond.

What is Shiba Inu (SHIB)?

Before discussing future Shiba prices, let's start with an understanding of what it is. 

Shiba Inu (SHIB) is a fairly young cryptocurrency that was created in August 2020 by an anonymous developer under the pseudonym Ryoshi. The coin's creator positioned it as the "Dogecoin killer" and chose the Shiba Inu dog as its logo, which is also the Dogecoin logo.

While SHIB strives to emulate and possibly surpass Dogecoin's success as a meme cryptocurrency, they have several differences. SHIB is based on the Ethereum blockchain and is an ERC-20 token. Moreover, in the future, the SHIB coin itself should become an internal token of the developed decentralised Shiba Inu ecosystem, which, among other things, will include the ShibaSwap decentralised exchange.

When Shiba Inu was created in August 2020, the developers sent half of the 1 quadrillion SHIB tokens to the decentralised Uniswap exchange, and the keys to the wallet were thrown away. This means that 50% of tokens are in circulation, but the developers cannot use them. According to the developers, this was done to provide users with an open market for exchanging and fairly distributing tokens.

The second half of the token issuance was sent to the public wallet of Ethereum founder Vitalik Buterin. In May 2021, Vitalik donated a portion of his Shiba Inu tokens, worth $1.2 billion, to fight COVID-19 in India. After that, on 16 May 2021, he sent 90% of his remaining SHIB tokens to an inaccessible address that burned them.

I don't want to be a locus of power of that kind. Better to just print the coins into the hands of a worthy charity directly. — Vitalik Buterin

As such, the developers didn't keep any tokens for themselves. To get any, they'd have to buy them in the market just like ordinary users.

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Shiba Inu (SHIB) price analysis

When writing this SHIB price prediction on 15 December 2023, SHIB ranked 16th among cryptocurrencies by market capitalisation at $5.83 billion.

SHIB price statistics (as of 15/12/23)

SHIB's price history

Before discussing the Shiba Inu price prediction for 2024 and beyond, let's consider the coin's past performance. 

Although the coin appeared in August 2020, its price remained negligible until April 2021, when it jumped to $0.0000042. A subsequent correction pushed the price down to the range of $0.00000085-$0.0000022. It remained at that level until the beginning of May.

In the first ten days of May, the price rose sharply in response to the coin's listing on several large exchanges and reached an all-time high on 10 May 2021 after being listed on the largest crypto exchange, Binance.

On 12 May, Vitalik Buterin spent part of his SHIB tokens on charity, after which the price fell by over half. The subsequent burning of 90% of his remaining tokens didn't have a noticeable effect on the price, and it kept falling. 

In October 2021, Elon Musk shared a tweet about his Shiba Inu dog that gave SHIB a 600% boost. SHIB went on to reach a new all-time high of $0.00008845 on 28 October 2021, around the same time that an anonymous crypto whale bought 276.6 billion SHIB tokens, the equivalent of $12.2 million.

SHIB continued to dominate headlines and became the third-most Googled crypto of 2021. However, following three consecutive weeks of volatility and another tweet from Musk, who revealed that he did not actually own any SHIB, the token slipped from the 11th-largest cryptocurrency, with a market capitalisation of more than $41 billion, to the 12th-largest, with a $21.1 billion market cap, according to CoinMarketCap.

On 24 January 2022, SHIB tweeted it was entering the metaverse with "an immersive experience for our ecosystem" called the Shiberse.

As of 1 February 2022, SHIB was trading at approximately $0.00002171. February saw some promising developments for Shiba Inu, including the announcement of a partnership with fast-food chain Welly's, which caused a surge in its value to $0.00003493 on 7 February. The price remained high until global tensions caused a downturn in the market. Even the news of Shiba Inu getting its metaverse on 11 February and the launch of its digital autonomous organisation (DAO) on 18 February failed to stop the decline.

On 24 February 2022, the value of Shiba Inu plummeted to $0.00002098, but it later experienced a slight recovery, trading at around $0.000025 by 4 March. On 28 March 2022, the SHIB token experienced a rally, reaching a high of $0.00002927. However, the token's value became incredibly volatile on 12 April, dropping to $0.00002198, followed by a rapid increase to $0.00002977. Since then, the overall trend of the price has been on a downward trajectory, and by 19 April, it was trading at approximately $0.000025. This was despite the news of American cinema chain AMC Theatres accepting payment in crypto.

On 20 July, the SHIB token rallied again to hit a high of $0.00001307. However, by the end of the month, it closed at $0.00001171. On 8 August 2022, SHIB was trading at approximately $0.00001235.

Between mid-November and mid-December 2023, the price of the coin has primarily been on a downward trend. Although there were a few minor increases, the overall trend has been a decline for the past month.

SHIB/USDT price chart

SHIB technical analysis

Based on the data from 15 December 2023, the overall sentiment for the future Shiba price is positive. The technical indicators show that Shiba Inu's 200-day Simple Moving Average (SMA) is projected to increase in the next month and reach $0.058347 by 14 January 2024. 

Additionally, the short-term 50-day SMA for Shiba Inu is expected to reach $0.059483 by the same date. The Relative Strength Index (RSI) is 63.96, indicating a neutral position in the market.

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Shiba Inu price prediction 2018-2019

The SHIB was created in August 2020 and did not trade before that date.

Shiba Inu price prediction 2023

Based on technical analysis, it is predicted that Shiba Inu prices in 2023 will have a minimum cost of $0.0000173583 and a maximum level of $0.0000208179. The average trading price is expected to be around $0.0000179982.

SHIB price prediction 2024

Based on Shiba 2024 price prediction, it is anticipated that the minimum price of Shiba Inu in 2024 will be approximately $0.00000520. There is a possibility that the maximum expected price for SHIB could reach around $0.00000825. On average, the trading price is estimated to be around $0.0000074 in 2024.

Shiba Inu (SHIB) price prediction for 2024, 2025 and 2030

Now is the time to find out what famous cryptocurrency experts think about the future Shiba price. As usual, we've compiled for you SHIB mid-term and long-term price predictions made by the most renowned of these experts.

WalletInvestor's SHIB price prediction for 2024, 2025 and 2030

WalletInvestor considers Shiba Inu to be bad for investment. According to their calculations, the coin has the potential to drop to $0.00000785 by the start of 2024. According to their estimates, the 2025 Shiba Inu price may fall to $0.00000117. $0.00000124 is the future Shiba price prediction for 2027. In five years, WalletInvestor estimates the token's value to average $0.000000932.

DigitalCoinPrice's SHIB price prediction for 2024, 2025 and 2030

Digitalcoin also predicts gradual growth for the SHIB token. Their forecast sees the future Shiba price as much as $0.0000251 in 2024 and $0.0000432 in two years. Not much growth is expected in three years, but the future Shiba price could rise to $0.0000522 in 2028 and $0.000100 in 2030.

PickACrypto's SHIB price prediction for 2024, 2025 and 2030

PickACrypto is even more optimistic about Shiba Inu's prospects. Here's a statement from their website.

From 2023 to 2025, we think the price of SHIB will visit the $0.0002000 to $0.0005000 USD area as the Team continues to develop their products and those products receive adoption from the target audience. This SHIB price prediction is based on several data sets and predictive modelling, which assumes the current long-term trend driving the price of SHIB continues in an upwards direction with no major setbacks.

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Shiba Inu (SHIB) overall future value predictions

Shiba Inu is a controversial project. It was created as a competitor to Dogecoin, a coin that achieved popularity through hype. Although the developers intend to expand the project by building an ecosystem around it, to date, their specific plans are mostly unknown to the crypto community. The project doesn't even have a detailed roadmap. Although investing in such projects can bring substantial profits, doing so is highly risky, even compared to investments in other cryptocurrencies.

Will Shiba Inu go up?

As for the predictions of when Shiba Inu will go up, many cryptocurrency experts think so, but it's worth bearing in mind that if the developers abandon the project or the hype doesn't support its popularity anymore, the token's price may decrease significantly.

How high can SHIB go?

It will be difficult for Shiba Inu's price to reach high absolute values due to the huge number of tokens issued. However, its relative growth can be quite significant. As mentioned above, some experts predict a possible price increase to $0.0005, which is many times higher than its current price.

Shiba Inu price prediction today

The future Shiba price is still quite uncertain, but it appears that the token continues to receive significant support from its enthusiastic fans. The Shiba Inu community is eagerly anticipating the project's progress, with some individuals even predicting that the price of SHIB could potentially reach $0.50 in the coming days. However, it's important to keep in mind that these are just estimates and are subject to change.

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What is Shiba Inu halving?

If you've been following the news in the cryptocurrency world, you may have come across the term "halving". While it is a concept commonly associated with Bitcoin, did you know that other cryptocurrencies like Shiba Inu and PI Network also have their halving events?

Halving is a predetermined event in most cryptocurrencies, where the number of new coins issued to miners or validators is reduced by half. It is a built-in mechanism that helps control the cryptocurrency's inflation and ensure its scarcity over time.

How does Shiba Inu halving work?

Shiba halving works similarly to the halving processes mentioned above. Tokens are burned through various mechanisms, such as transferring tokens to a burn address or locking them in liquidity pools. The exact details of the halving process may vary depending on the specific event, but the goal remains the same: to reduce the supply of tokens and increase their value.

The Shiba Inu ecosystem undergoes a series of halving events that occur when a specific number of tokens have been burned or destroyed. When this happens, the number of tokens in circulation decreases, making each token more scarce and potentially increasing its value.

Why does Shiba Inu halving occur?

Shiba Inu halving is designed to reduce the supply of SHIB tokens gradually. The burning of tokens not only helps to control inflation but also aims to create a deflationary ecosystem where the token's value can increase over time. This mechanism is intended to reward long-term holders and discourage short-term speculation.

It is important to note that Shiba Inu halving is a complex process and requires careful consideration by the development team. Shiba Inu halving dates can significantly impact the cryptocurrency's overall value and stability. Therefore, investors and enthusiasts must stay informed about upcoming halving events and their potential implications.