Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.
Shiba Inu project’s lead developer Shytoshi Kusama recently updated his Twitter location to “in the Lab,” prompting the crypto-community to speculate about Shibarium’s progress.
The recent release of Shibarium beta’s public documentation and ongoing project developments demonstrate Shiba Inu’s strong commitment to expanding their ecosystem and improving the platform’s capabilities. The price of SHIB, on the other hand, remains sideways as market sentiment remains uncertain.
There is mild but consistent growth in the total number of Shiba Inu (SHIB) tokens being burnt as the price of the meme coin takes a breather. Over 5.2 million SHIB tokens have been burnt over the last 24 hours. In fact, Shiba Inu has been on a rampage for the better part of the week.
Consider this – Shiba Inu (SHIB) reportedly noted its highest daily surge in active addresses in 2023 at the end of March, when nearly 36,000 SHIB addresses transacted on the network. Citing Santiment data, crypto-analyst Ali Martinez made the claim on Twitter that the network activity has set a record high since the beginning of the year.
Despite the launch of the much-awaited Shibarium L2, however, whale trading activity has continued to decline.
Shytoshi Kusama had previously promised that Shibarium would not only serve as a Layer 2 platform for Shiba Inu ecosystem members, but would also attract members of the broader crypto-community. Built on the Ethereum blockchain, Shibarium is expected to bring a lot of attention to meme coins.
SHIB took a massive hit in the wake of the Silicon Valley Bank collapse. The token tumbled down the price chart but has been trying to recover.
Read Price Prediction for Shiba Inu [SHIB] for 2023-24
That being said, the arrival of Shibarium might potentially mark a new era for Shiba Inu. One in which it moves from being just a meme cryptocurrency to being a platform that offered genuine utility. Just last week, the project announced the public beta launch of Shibarium, a launch that is expected to push SHIB’s price in the future.
Shiba Inu was founded in 2020 by an anonymous techpreneur. Elon Musk and Vitalik Buterin, both tech billionaires, have praised the project. Shiba Inu has been successful in attracting people who missed the Dogecoin craze previously.
Investors seeking to join the joke have increased the popularity of memecoins, which are not supposed to be taken seriously.
Shiba Inu has been known to be a disrupter when it comes to management and operations. The enterprise began with a supply of one quadrillion; its founder Ryoshi first locked 50% in Uniswap and then burned another 50% to Vitalik Buterin, the founder of Ethereum. We are yet to know why this step was taken.
Later in 2021, Buterin burned 90% of his Shiba Inu holdings and donate the rest to charities. He had earlier donated SHIB tokens worth $1 billion to a COVID-19 relief fund for India, CryptoRelief. He said that this was the only way he could avoid his transactions in Shiba Inu being read as actions.
Buterin’s decision to burn his holdings, nearly 50% of the Shiba Inu coins in circulation, effectively put them outside the purview of the market since these coins are now stored on an inaccessible public address. Ryoshi thanked Buterin for his contribution to creating a decentralized financial system.
Buterin has also praised the Shiba Inu community for supporting different initiatives such as the Fellows in AI Existential Safety.
The platform also supports the Shiba Inu Incubator, facilitating a large group of creative digital artists who bring forth an experience of what feels like a decentralized movement. The NFT project gives support to artists in the creation, exhibition, promotion and auction of their artworks, besides providing them with other streams of income.
In August 2022, the Shiba Inu Ecosystem announced on Twitter the name of the Shib CCG game, Shiba Eternity. It also revealed that the game would be available on both Google PlayStore and Apple AppStore. On 17 September, the game was launched in Australia and plans to venture into other countries.
The community is also involved in rescuing real Shiba Inu dogs through its association with the NGO named Shiba Inu Rescue Association.
Skeptics are unsure of the future of cryptocurrency and memecoins in particular. While the mainstream cryptocurrencies projected themselves to be the alternatives to fiat currencies, memestream cryptocurrencies such as Shiba Inu were only poking fun at the former’s claims.
But as these memecoins got popular, they didn’t go in the direction of developing use cases of the currency. That wasn’t the intention either, neither did the community expect such a popularity in the growth of memecoins. There are, however, a number of merchants today in the US accepting Shiba Inu as a payment method.
Another factor affecting the growth of the Shiba Inu currency is the huge number of crypto whales selling the memecoins. As per a report, whales at one point of time held $1 billion worth of SHIB coins. However, they keep selling and burning the currency from time to time, and now they hold barely a fraction of that amount.
The second quarter of 2022 proved to be a bloodbath for the entire cryptocurrency industry as Terra Luna, FTX and several crypto projects failed in the year. The banking crisis following the collapse of the crypto-friendly Silicon Valley Bank (SVB) also impacted SHIB’s performance.
Why these projections matter
As is evident, a sense of community is crucial to the growth of SHIB. Whether it is their demand to get it listed on Robinhood or asking McDonald’s to accept it as a mode of payment, the community has always rallied around the growth of SHIB.
I’m getting a Shiba Inu #resistanceisfutile
— Elon Musk (@elonmusk) March 14, 2021
It has also become home to a huge community of NFT artists who focus on the Shiba Inu breed of dogs in their artworks.
“Rather than simply dismissing the hype outright, it’s important to realize that what we’re seeing is the mass movement of traders new to crypto moving into the space,” said Ben Caselin, Head of Research and Strategy at AAX. He added, “SHIB coin is a meme coin and embraces that.”
In this article, we will give an overview of the key performance indicators of SHIB such as price and market cap. We will then share with you what most popular crypto-analysts have to say about the future of this meme coin. This information will be complemented by data charts for a better understanding of the trajectory of SHIB so far and later.
Shiba Inu’s Price, Market Cap, and everything in between
During the crypto-bloom of 2021, SHIB’s price continued to soar and hit 0.00003503 in mid-May. Its price further rose by over 34% when it got listed on the crypto-exchange Coinbase in September 2021.
When the Shiba Inu community clamoured to get the cryptocurrency listed on Robinhood Markets Inc., its price soared to an ATH of $0.00008845 in late October 2021. The altcoin, however, was not listed on the exchange before April 2022. At that point in time, it even dislodged Dogecoin to become the most-valued meme coin by market capitalization. The surge also led to its mass adoption by many cryptocurrency enthusiasts.
As the cryptocurrency market crashed during Q2 of 2022, SHIB’s market price also continued to fall. From its April 2022 price of 0.000026, it fell to a little below $0.000008 by mid-June 2022. Since then, it hasn’t performed much better.
SHIB, at press time, was trading at $0.00001139 with a market cap of $6.7 billion and a 24-hour trading volume of $401 million.
However, one cannot disregard the fact that along with DOGE, SHIB has been responsible for a flood of meme-coins in the cryptocurrency market such as Bit Shiba, King Shiba and Baby Doge.
Shiba Inu Coin’s 2025 Predictions
Before reading further, we must understand that market predictions of different analysts widely vary. A good number of times, these predictions will prove to be wrong as analysts cannot always foresee events such as political or environmental crises. It is wise that an investor conducts their own research before investing in a cryptocurrency, especially in something as volatile as SHIB.
A Changelly blogpost says that after studying the SHIB prices and market fluctuations, experts predict that SHIB could hit as high as $0.0000440756 and as low as $0.0000366063 in 2025. Its average price is expected to remain at $0.0000376362.
Telegaon writes that according to some crypto experts, the Shiba Inu Coin price can hit a new ATH in 2025. They predict the minimum and maximum prices of SHIB this year to be $0.00009839 and $0.0001928, respectively. Its average price is predicted to be around $0.0001152.
As per DigitalCoinPrice, the minimum and maximum prices of SHIB in 2025 will be $0.0000312 and $0.0000381, with its average price remaining at $0.0000356.
Shiba Inu’s 2030 Predictions
The aforementioned Chanelly blogpost writes that SHIB could hit as high as $0.0002908409 and as low as $0.0002463454 in 2030. Its average price is expected to remain at $0.0002532547
Telegaon writes that SHIB’s price can hit as high as $0.00112 and as low as $0.0009354 in 2030. Its average price in the said year however will be $0.0009915.
The post adds that if users burn enough tokens, a cryptocurrency’s acceptance is bound to increase. But we should understand that for this purpose, it has to have different use cases.
The aforementioned DigitalCoinPrice article predicts that SHIB’s average price in 2030 will be $0.000108. Its minimum and maximum prices for the year will be $0.000103 and $0.000111.
Are your SHIB holdings flashing green? Check the profit calculator
Fear & Greed Index
At the time of writing, SHIB’s Fear and Greed Index was in the ‘neutral’ position.
Shiba Inu Coin has continued to grow, hand in hand with the token burns. However, as its supply decreases and demand increases, its price should rise. Ideally. In fact, many investors have become millionaires by investing in this meme coin.
Shiba Inu has a lot of promising possibilities that will keep pushing the market. What also works in its favor is its extremely low price, which is why a lot of people keep buying it.
Shibarium, the platform’s Layer 2 protocol, has been launched. It will allow users to move assets with minor gas fees, facilitating micro transactions over Shiba Inu-based dApps. The team has deployed a host of new and innovative developers to build the UX/UI of its platform and web portals as a part of the same process.
The launch of Shibarium was accompanied by the launch of the TREAT token. It will be used as a reward token on Shiba Inu-based metaverse and games such as the Shiba Collectible Card Game. A limited supply of these coins is reserved for its most loyal Breed members who have been working for years to build public confidence in the entity. The team has also been contemplating launching SHI, a stablecoin; but no concrete information about this coin is there so far.
In January 2022, Shiba Inu Ecosystem announced the arrival of Shiberse, the native metaverse of the Shiba Inu community. As digital coins, games, virtual land and memes populate the Shiberse, it is bound to get popular among an audience that is keen to explore a brave new world beyond the confines of time and space.
The same month, the group tweeted the news about Shiba Eternity, a collectible card game. The game has been developed in close collaboration with the legendary AAA game development studio PlaySide Studios.
We are proud to reveal the name of the Shib CCG game, Shiba Eternity™!
We are working alongside @PlaysideStudios on a testing schedule and exciting release!
The game will be available in both the Apple App Store and Google Play Store.
Game on #ShibArmy with #ShibaEternity! pic.twitter.com/iJnyMUVZWb
— Shib (@Shibtoken) August 2, 2022
What the enterprise is certain to face is a challenge in this space from Big Tech metaverse ventures such as Yuga Labs’ Otherside and Zuckerberg’s Meta. It is difficult for an independent community such as the Shiba Inu Ecosystem to sustain the might of Big Money and Big Tech. The only way it can gain an edge in this segment is by introducing revolutionary ideas in the metaverse, gaming and NFT segments. So far, we haven’t seen anything new.
In October 2022, Elon Musk announced the launch of a fragrance that can be bought with SHIB, besides PayPal, Google Pay, DOGE and regular bank cards. As cryptocurrency is accepted in collaboration with BitPay payment processor, payments in SHIB are also possible.
And you can pay with Doge!
— Elon Musk (@elonmusk) October 11, 2022
The same month, Google Cloud and Coinbase made an announcement about their relationship for Web 3.0 development initiatives. A select group of clients will also be able to pay for these services using SHIB and other cryptocurrencies. We’ll have to wait and see if the decision is implemented and if other businesses decide to follow suit.
Shibarium’s launch suggests that the Shiba Inu team looks serious about being more than another memecoin, something also indicated by its long-awaited metaverse. As such, SHIB really could be one of the major coins to watch this year, with significant rallies potentially in sight.
Furthermore, its upcoming Metaverse project improves this project’s allure from a tokenomics perspective. As a memecoin, the value of SHIB is driven by how bullish (and large) the Shiba Inu community is at a given point in time.
Analysts speculate that SHIB cryptocurrency might retrace its recovery path as soon as it gets support from the level. However, volume change can be seen declining and under the influence of sellers. Buyers need to come forward to rescue the SHIB token from the seller’s grip.
Early last month, Shiba Inu announced that it will debut its Wagmi Temple at the upcoming SXSW festival. Here, WAGMI stands for “We’re all gonna make it,” a popular phrase among fans of Shiba Inu. Meanwhile, the broader crypto community is representing their belief in the potential of Shiba Inu for growth and success.
⚠️ #ShibArmy @sxsw is around the corner @ March 12-14 in Austin, Texas.
We’re thrilled to have the opportunity to be featured as one of the XR Experience Spotlights, where we will be presenting the world premiere of the magnificent WAGMI Temple Hub!
🧷: https://t.co/8nFV1VmAzH pic.twitter.com/QZmV9vmjHX
— Shib (@Shibtoken) March 2, 2023