9/11/2023 0 Comments Will shiba keep going up![]() One thing to note when considering any Shiba Inu price prediction is that the coin has a devoted online fanbase, with more than a million token holders. Users can also get hold of Shiba’s other cryptos, LEASH (aka Doge Killer) and the recently launched BONE. This allows people to exchange their SHIB for other cryptocurrencies in a decentralised exchange. SHIB’s next step, on 6 July 2021, was to set up its own exchange – ShibaSwap – which also runs on the Ethereum blockchain. The billionaire described it as an “opportunity to turn the meme bubble into something that could actually do good for people”. Speaking at the time, he said: “I don’t want to be a locus of power of that kind.”Īlso last May, Buterin donated 50 trillion coins – worth roughly $1.2bn – to the India Covid Crypto Relief Fund, to help those suffering from Covid-19. The other thing to note about the number of SHIB coins is that half the total supply was given to Ethereum founder Vitalik Buterin, who burnt 90% of them in May 2021 – the equivalent of 410.24 trillion tokens, worth more than $6.7bn (£4.9bn). But the coin’s low price also means there is potential for growth, although it is important for investors to be realistic in their expectations.Īs Ryoshi wrote in the Shiba Inu whitepaper (or ‘woof paper’): “We earned the nickname DOGECOIN KILLER because we have the ability to outpace the value of Dogecoin, exponentially, without ever crossing the $0.01 mark.” It will certainly not reach the hallowed $1 mark without causing some serious financial disruption. That is not to say it will not rise at some point, but the size of the potential supply does depress its price somewhat. This means the price of one SHIB coin is always likely to remain relatively low. The maximum supply – the most coins that will ever be created – is one quadrillion, or a million billion. Differences between SHIB and DOGE – Photo: Īccording to CoinMarketCap, as of 20 May 2022, there were more than 549 trillion SHIB coins in circulation. Unlike DOGE, which is based on Bitcoin, SHIB is based on the Ethereum blockchain. The idea behind SHIB was to create a cryptocurrency that was, in theory, 100% decentralised and run by its community. Shiba Inu (SHIB) was set up in 2020 by a mysterious founder known only as Ryoshi. ![]() A brief introduction to the Shiba Inu projectĪt first glance, a cryptocurrency with a Shiba Inu dog as its mascot might seem like a simple rip-off of DOGE – but is there more to it? Let’s have a look at what is being said about the future of SHIB and the Shiba Inu coin price. Things were thrown into disarray at the end of May when the crypto’s pseudonymous founder, Ryoshi, deleted all his tweets and disappeared from the internet, so we shall have to see what happens next to the meme coin. One of the market’s most popular alternative meme coins, and one that has been getting a lot of attention recently, is Shiba Inu ( SHIB). But what has caused all the interest and, more importantly, what is its future likely to be? Can we make a Shiba Inu coin price prediction? A brief introduction to the Shiba Inu project. ![]()
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