Is Shiba Inu a good investment? Will Shiba Inu reach $5, and if yes, when? These are some of the burning questions on every SHIB token investor or enthusiast’s mind right now.
Well, Shiba Inu is currently a hot topic and has ignited a media buzz that saw its prices record an incredible 1,291,831%+ value growth in the last 18 months. The crypto community is also optimistic that the ERC-20 token prices will continue soaring in the foreseeable future, driven by the popularity that the coin is currently enjoying and the resultant FOMO.
But seeing the relatively low-price ranges within which SHB token has been trading at the moment and the insurmountable climb it has to make to reach $5, experts are not convinced that it can reach anywhere near this target soon.
After a wild rally between April and May 2021, Shiba Inu prices stuck in a dip. But in October the self-proclaimed Dogecoin Killer escaped the dip and reached its all-time high of $0.000088.
But do the experts believe Shiba Inu will reach $5, and if they do, when can we expect it to hit this target price?
When Will Shiba Inu Reach $5?
We have researched thoroughly and consulted widely when coming up with this Shiba Inu price prediction, and we are yet to come across a crypto analyst or forecasting website that believes SHIB tokens will reach $5 anytime soon.
Most of the analysts and price prediction websites we have consulted are quick to point out a number of factors that make it almost impossible for Shiba Inu to reach $5 in the next 5 or even 10 years. The three that stand out for us are the token’s maximum supply, the factors influencing its uptrend, and the level of growth that Shiba Inu will need to reach $5.
When Shiba Inu launched, it minted 1 Quadrillion SHIB tokens. 50% of these were given to Vitalik Buterin, who has promised to burn as much as 90% of the donation (450 Trillion) before giving the rest to charity. This still leaves us with around 550 Trillion SHIB tokens. Getting their individual value to $5 would translate to an unutterable market capitalization of $2.75 Quadrillion. This would make it 32X more valuable than the GDP of the entire world in 2020.
Secondly, investors and analysts opposed to the possibility of Shiba Inu reaching $5 have faulted the coin’s fuel towards $5. They reckon that Shiba Inu has no real value and no clear objectives driving its prices - save for the social media hype it is being accorded today and the waning celebrity endorsements. They argue that were it not for its Dogecoin Killer tag and two tweets by Elon Musk, Shiba Inu may very well be still an unknown token.
Further, they point out the near marginal effect that Elon Musk, Mark Cuban, Snoop Dogg, and a dozen other celebrities’ endorsement of Dogecoin has had on the coin’s rally towards $1. They then fail to understand the number of endorsements and the level of social media hype Shiba Inu would need to push its value towards $5.
Lastly, the sheer value appreciation that Shiba Inu needs to clock in order to reach $5 is unprecedented. Currently, SHIB token prices have averaged $0.00002. In getting to $5, the token needs to grow this value by 9 Million percent. We cannot overemphasize the impracticality of the value appreciation of this magnitude.
But, the crypto industry has taught us better to never say never, and that anything is possible in the crypto-verse. So let us assume that Shiba Inu possibly burns more tokens and amasses the much-needed hype/endorsements to get it to $5 in the future, what then?
Read Also: Could Shiba Be A Millionaire-Maker Coin?
What Happens if Shiba Inu Reaches $5?
If Shiba Inu eventually reaches $5 in the future, these are some of the things that we can expect from such a move include:
- It will draw in more investors. It would have proved its resilience in hitting seemingly unrealistic targets and inspired confidence among crypto traders/investors who are always looking to associate themselves with winning assets.
- It would challenge legacy cryptocurrencies like Bitcoin and Ethereum for the top spot. By getting to $5 with its current total token supply, Shiba Inu would amass a market cap of $2.75 Quadrillion, making it the largest cryptocurrency.
- The Shibaswap DEX popularity would surge. Given that Shiba Inu is the native token for the Shibaswap DEX, the exchange’s popularity and value would also skyrocket alongside the SHIB token’s growing value.
- Investors would start treating it differently. The current public perception of Shiba Inu is that it is a joke token - a meme currency. And its developers haven’t done anything to prove the crypto community wrong. But as its value surges, you would likely see them rush to legitimize it - possibly coming up with a well-thought-out whitepaper, a Shiba network roadmap, and probably own blockchain that takes Shiba Inu from the Ethereum network.
But we also need to appreciate in getting to $5, Shiba Inu will first need to conquer the $1. So, when can we expect it to reach parity with the USD?
Will Shiba Inu Reach $1 in 2022?
Well, Shiba Inu is currently trending at very low prices, and nothing indicates that this is about to change. Save for the mission of beating Dogecoin, the token doesn’t have a clear roadmap, and the meager social media hype it commands today doesn’t carry enough momentum to thrust Shiba Inu’s value past $1 before the end of 2022.
Perhaps the most glaring impediment on Shiba Inu’s journey towards $1 by December 2022 is the level of value appreciation it needs amass to get here. From the current average valuation of $0.000055, Shiba will need to grow by 1.8 million percent over the next months (about 140,000% per month) if it is to end the year trading at $1.
Even the most optimistic Shiba Inu prediction we have come across - from CryptocurrencyPricePrediction website - SHIB Token prices don’t come anywhere close to $1. Their analysis suggests that the furthest that SHIB token prices may reach by December 2022 is $0.0004559.
Check Out: Is Shiba Inu (SHIB) A Good Buy?
Is Shiba Inu a Good Investment?
Interestingly, even though analysts don’t think Shiba Inu can reach $5 or even $1 anytime soon, they still think it is a good short-to-medium-term investment. They expect its prices to continue rising in the foreseeable future.
They believe that its close association with the number one meme currency - Dogecoin - and the hype around both Doge and Shiba, will incite FOMO that will drive the token’s prices out of the current dip making its current investors good money.
Conclusion: Will Shiba Inu Reach $5?
It is highly probable that Shiba Inu will not reach $5 or even $1 in the foreseeable future. Its current low trading prices and poor growth momentum do not match the amount of growth required to get the token anywhere close to $1. Analysts and investors understand this. And though they are optimistic about its future uptrend and argue that it still is a viable investment, they have consistently kept their hopes about Shiba Inu’s ultimate peak price at a minimum.
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