Why Is Shiba Inu Rising? Can It Reach $0.01?

Last Updated November 2nd 2021
6 Min Read

A lot is going on for Shiba Inu at the moment. Not only is its price rising, but its community is also getting bigger. Recently, the following of this cryptocurrency on Twitter crossed the 1 million mark.

However, after a more than 200% rally in just a matter of days, Shiba Inu is easing up. Quite expected of any asset really. Even Bitcoin has eased up a little bit after hitting a high of $67k a few days ago.

That said, let’s now take a closer look at the latest news for Shiba Inu, its community growth, and its latest price predictions.

In the last year, Shiba Inu’s value has rallied by over 42,000,000%. If you feel bad that you probably missed out on this run, there is good news for you. 

Shiba Inu’s prospects still look good. This is evident in the crypto’s fast-growing community on Twitter, Reddit, and other social media platforms.

Its growing community is mainly driven by the belief that it is the real DOGE killer. Doge is the largest of the meme coins, and if Shiba Inu ends up being the Doge killer, it would be much bigger both in market cap and price.

However, as a prudent investor, it would be best to bet on both. That said, now that Shiba Inu is still trading at less than a penny, it is a massive opportunity for investors.

Imagine buying Bitcoin or Ethereum when they were still trading at less than a penny to understand how big of a deal this is.

Shiba Inu Is Deflationary

Deflationary cryptocurrencies make for the best long-term investments. That’s because as the supply goes down and demand goes up over time, it puts pressure on the price.

Shiba Inu is deflationary and that gives it the same prospects as the likes of Bitcoin and Ethereum.

At the moment, Shiba Inu has a circulating supply of 394.8 trillion tokens. This is quite a huge drop considering that it had a circulating supply of 1 quadrillion tokens when it launched.

This means that more than half of the tokens have already been burned. The Shiba Inu coin burn hit top gear after Vitalik Buterin decided he wanted nothing to do with the project.

The project had given him 50% of the total supply. He decided to donate $1 billion worth of them to India’s efforts to fight COVID-19. He then burned the rest of them to a dead wallet.

Besides Vitalik Buterin taking almost 50% of the total supply out of the market in one swoop, the project burns tokens generated as fees in transactions. This means as more people use Shiba Inu for various purposes, the total supply will shrink further.

In essence, Shiba Inu is the exact opposite of Dogecoin. Dogecoin is inflationary, and every year 5 billion more Doge enter circulation.

If the price action of coins like Ethereum and Bitcoin is anything to go by, then it is clear that deflationary cryptocurrencies tend to hold value better over time.

Shiba Inu’s Price Action Is Making A Statement

In the last 4-days, Shiba Inu has gained over 200%. Trading volumes are on the rise too and are now up by more than 900%. 

This is an indication of the fast-growing nature of the Shiba Inu community. On social media platforms like Twitter, it is easy to feel that the hype and positive vibes around Shiba Inu are on the rise.

This means choosing to get involved in Shiba Inu at the moment is a pretty good idea.  The growing size of such online communities is a strong indicator of the potential value explosion of this crypto.

Shiba Inu Twitter Community Is Now 1 Million Strong

A few days ago, Shiba Inu thanked community members for helping the project hit 1 million followers on Twitter.

However, it is not just on Twitter that community membership is growing, the numbers are growing on Reddit too. The ShibArmy grew by 10X, and as of early October, stood at 307,000 members. 

To understand how big of a deal this is, R/ShibArmy only had slightly over 30,000 members last summer.

These numbers are of huge significance to Shiba Inu. The hype these communities generate will play a critical role in the growth of this crypto in the long run.

This makes Shiba Inu high-potential crypto to buy now, in anticipation of growth as the community expands.

To understand how big of a deal this is, one needs to reflect on the prices of Bitcoin and Ethereum when they first launched. Both of these cryptocurrencies were trading at pennies at the time.

Thanks to their deflationary nature, and their growing communities, they are now where they are today.

Shiba Inu is deflationary just like these two crypto giants, so it could be a life-changing opportunity.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

How High Can Shiba Inu Go Between 2022 And 2030?

There are lots of predictions out there on the direction that Shiba Inu could go. What’s funny is that there are predictions that expect Shiba Inu to drop in value.

Such predictions are mostly by people who have not spent enough time to understand Shiba Inu and how it works.

To anyone who understands how innovative this project is, and how strong its community is, it’s clear that a lot of potential is going into the future.

Based on the improving positive sentiment around this cryptocurrency, Shiba could hit $0.0001 by 2022. That’s a huge boost from its current price.

The project has already eliminated several zeros since it launched, and if it continues in its current trajectory, then over the years, even $0.05 and $0.10 would be within reach.

Over the next couple of years, as more people become aware of its power, Shiba Inu could trade at $0.01 by 2025 and $1 by 2030.

Shiba Inu Demand Is Skyrocketing

As the price for Shiba Inu rises, so will the number of platforms offering it. Already, there are rumors that Robinhood could list it at some point in the future. 

The Shiba Inu community is already using change.org to push Robinhood to list it.

So Where Can You Buy SHIB Today?

Shiba Inu is available on the following major exchanges:

Considering how aggressive the Shiba Inu community is, Shiba Inu will be listed a lot more exchanges going into the future.

More listings mean a high potential for it to make parabolic gains in the short run. However, for the real gains, it is best to look at it from a long-term perspective.

It’s the same way that those who took a long-term view of Bitcoin and Ethereum are the ones that have profited the most from these two cryptos.

Is Shiba Inu A Good Buy?

If its fundamentals are anything to go by, Shiba Inu is a buy and a very strong one at that.

Besides that, SHIB is very affordable, and with just $100, one can buy about 1.5 million SHIB.

This means anyone who puts $1000 in SHIB today would make $150,000 if Shiba Inu hits $0.01.

Other deflationary cryptos like Bitcoin and Ethereum have done it in the past. There is no reason why SHIB shouldn’t give the same returns.

Do You Have SHIB In Your Portfolio Today?

If you have SHIB in your portfolio, at what price do you intend to get out?  Or better still, at what price do you expect SHIB to make you a millionaire?

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.