Shiba Inu’s Potential To Reach $0.01: Will It Hit The Target This Year?

Last Updated April 11th 2022

3 Min Read

Shiba Inu is one of the meme cryptocurrencies that could beat investor expectations in 2022.

The Shiba Inu cryptocurrency is a shining example of how unlikely cryptos can still strike it big in the crypto market. Shiba Inu was created in August 2020, and by November 2021, it was up by 48,000,000%. Even after such a historic rise in price, some investors are still bullish that Shiba Inu is a growth cryptocurrency and could test higher prices. Many within the SHIB community expect it to hit $0.01.

While there is optimism that Shiba Inu can test $0.01, Shiba Inu is currently trading at $0.00002421, which is still way off from $0.01. But if Shiba Inu’s price action in the past is anything to go by, it would not be surprising if it tests this price.

Shiba Inu hit the market in 2020 as an ERC-20 token. At the time of launch, there were one quadrillion tokens in circulation. Since then, the supply has dropped significantly to around $549.06 trillion. The team has also been hard at work to improve SHIB fundamentals.

Over the past year, the number of cryptocurrency exchanges listing the Shiba Inu token has also increased. At the moment, Shiba Inu is available on most top cryptocurrency exchanges such as eToro, Coinbase, FTX, and Binance.

Besides, the Shiba Inu ecosystem has grown pretty fast, too. Today, Shiba Inu has a decentralized exchange called Shiba Swap, and the Shiba Inu team is now close to launching the Shiba Metaverse.

All these developments continue to make cryptocurrency investors bullish on SHIB. However, many others are sceptical about Shiba Inu because it is still a meme coin with little utility in the real world.

2022 Shiba Inu Price Prediction

Shiba Inu came into the market in 2020 when meme coins were a hot investment. The meme coin hype coupled with SHIB’s listing on major exchanges such as eToro added to the price rally in early 2021. However, Shiba Inu has struggled to sustain the price rally in 2022.

Studies show that some investors have been avoiding SHIB in favour of other top trending cryptocurrencies after the recent price drop. Interestingly, Shiba Inu continues to attract the attention of investors looking for cheap cryptocurrencies to buy now. Big money is still interested in Shiba Inu, too, if the recent whale purchases of SHIB are anything to go by. It all points to Shiba Inu’s potential to rally in price.

Read Also: Shiba Inu (SHIB) Price Prediction

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Can Shiba Inu Test $0.01 In 2022?

Shiba Inu does not have the fundamentals of Ethereum or Solana. These platform blockchains derive their value from all the projects built on top of them. On its part, Shiba Inu has relied heavily on hype up to this point.

However, Shiba Inu's fundamentals are getting better. Shiba Inu is currently launching its Metaverse and a coin burn platform that will help cut down on the number of SHIB tokens over time. Shiba Inu also has its DEX and continues getting listed on more cryptocurrency exchanges. All these factors have led to an increase in investor interest in Shiba Inu.

Expecting Shiba Inu to reach $0.01 in 2022 could be a bit of a stretch despite all these developments. No one can predict the market, and Shiba Inu can always pull off a rally like that of 2021. With its Metaverse about to launch, there is no telling where SHIB's price could go.