Shiba Inu Coin, often referred to as SHIB, entered the cryptocurrency scene in August 2020, courtesy of an anonymous entity using the pseudonym “Ryoshi.” This cryptocurrency was inspired by the Shiba Inu dog breed, known for its role as the mascot of Dogecoin, another cryptocurrency originating from the world of memes.
SHIB’s journey through the crypto landscape has been a rollercoaster ride, characterized by extreme highs and lows. While the cryptocurrency market is notorious for its volatility, meme coins like SHIB take this volatility to a whole new level.
Let’s explore Shib’s functionality and assess its investment potential in this article.
About SHIBA INU (SHIB)
| Token | SHIB |
| Price (as of 5th October 2023) | $0.000007234 |
| Circulating Supply | 589.35T SHIB |
| Total Value Locked (TVL) | $7,231,413,397 |
| Total Supply | 589.59T SHIB |
| Max. Supply | — |
| Fully diluted market cap |
$4.27B |
| Website | Click here |
| Whitepaper | Click here |
| ATH | $0.00008845 |
| ATL | $0.0…08165 |
Key Moments in SHIB’s History
- Genesis – August 2020: Ryoshi launched SHIB as a decentralized and community-driven experiment during the DeFi boom. With a mere $3,000 USD in liquidity, SHIB debuted on the Ethereum (ETH) blockchain. It aimed to challenge the complexity of crypto with a simple yet ambitious vision. SHIB quickly gained attention as the “Dogecoin Killer” due to its vast total supply of one quadrillion tokens, a significant portion of which was sent to Ethereum’s founder, Vitalik Buterin.
- Vitalik Buterin’s Move – May 2021: The “Shib Army” community gained momentum, leading to a significant moment when Vitalik Buterin burned 90% of his SHIB holdings, valued at over $6 billion, and donated the remaining 10% to charity.
- ShibaSwap Emerges – July 2021: In July 2021, ShibaSwap, a decentralized exchange (DEX)operating on Ethereum, expanded SHIB’s ecosystem. It enabled users to trade cryptocurrencies directly, without intermediaries, gaining rapid popularity in the DeFi landscape.
- Shibarium Launch – August 2023: SHIB’s evolution continued with Shibarium’s launch in August 2023. This blockchain platform provides a user-friendly environment for building decentralized applications (dApps) on SHIB’s blockchain, marking a significant stride toward an extensive ecosystem.
SHIB Tokenomics
- Token Supply: SHIB boasts a total token supply of a staggering 999,982,984,109,021 tokens.
- Initial Distribution: During its launch, SHIB allocated 50% of its tokens to Uniswap liquidity, while the remaining 50% found its way to Vitalik Buterin, the renowned founder of Ethereum.
- Market Capitalization: As of October 5th, 2023, SHIB’s market capitalization stands impressively at around $4.28 billion USD.
- Price: On the same date, October 5th, 2023, the trading price for SHIB hovers around a modest $0.00000727 USD.
- Trading Volume: Over the last 24 hours leading up to October 5th, 2023, SHIB recorded a substantial trading volume of approximately $78.2 million USD.
SHIB INU Ecosystem
The Shiba Inu Ecosystem represents a collection of tokens and platforms built around the core cryptocurrency, Shiba Inu Coin (SHIB). Within this ecosystem, there are three distinct tokens: SHIB, LEASH, and BONE.
- SHIB serves as the primary token within the ecosystem, functioning as a decentralized currency driven by the community’s involvement.
- LEASH, on the other hand, holds a special role, designed to reward loyal ecosystem supporters with exclusive privileges and access.
- BONE serves as the governance token, with a limited supply of 250,000,000 tokens. Its primary role is to empower the Shib Army to engage in decision-making by voting on proposals through the Doggy DAO. Furthermore, BONE plays a pivotal role as the cornerstone for the ecosystem’s exclusive Layer 2 network, known as Shibarium.
The Shiba Inu Ecosystem encompasses various platforms, including:
- ShibaSwap: This decentralized exchange (DEX) operates on the Ethereum blockchain, enabling users to engage in cryptocurrency trading without the need for intermediaries.
- Shibarium: Shibarium represents a Layer-2 (L2) blockchain solution that empowers users to create digital products, conduct peer-to-peer transactions, and perform fundamental functions. It goes beyond being just a blockchain, enhancing the efficiency and scalability of the entire Shiba Inu ecosystem. Shibarium officially launched on August 16th, 2023.
Recent Developments in the World of Shiba Inu Coin (SHIB)
Here are some of the most recent updates and developments concerning Shiba Inu Coin (SHIB):
- On October 5th, 2023, SHIB’s price exhibited a noteworthy 4% increase, reaching $0.00001003. This surge occurred against the backdrop of a relatively stable cryptocurrency market where most assets moved by a marginal 1%.
- In another development on the same date, Shytohi Kusama, a prominent Bitcoin whale, made a substantial addition to their cryptocurrency holdings by acquiring 845 billion SHIB tokens. Interestingly, Kusama, who had been absent from social media for a period, reappeared and surprised the community with hints at “secret initiatives.” Among these initiatives are plans for AI projects related to SHIB.
- A significant highlight of October 5th, 2023, was the remarkable increase in the burn rate of Shiba Inu SHIB/USD. Over the course of the previous 24 hours, the burn rate surged by an impressive 75%. During this period, a staggering 49 million SHIB tokens were permanently removed from circulation.
The Shib Army: A Passionate Community
The term “Shib Army” affectionately describes the dedicated community of supporters backing Shiba Inu Coin (SHIB). This decentralized and passionate group, numbering millions worldwide, unites to highlight the potential and utility of cryptocurrencies, particularly within the Shiba Ecosystem in the DeFi sector.
- Promoting SHIB’s Advancements
The Shib Army actively engages on platforms like Twitter, Reddit, and Telegram, sharing the latest SHIB news and insights. Their efforts extend to fostering understanding and boosting awareness of SHIB’s capabilities.
- Community-Driven Impact
Beyond online involvement, the Shib Army initiates charitable donations, community events, and collaborative projects, underscoring their commitment to strengthening the SHIB community and promoting the ecosystem’s growth. This enthusiastic group remains instrumental in SHIB’s continued success.
SHIB Price Prediction 2023
| When | Maximum Price | Minimum Price |
| October 2023 | $0.0000080 | $0.0000067 |
| November 2023 | $0.0000066 | $0.0000055 |
| December 2023 | $0.0000052 | $0.0000044 |
In the final months of 2023, Shiba Inu (SHIB) exhibited a gradual decline in price, with its maximum value reaching $0.0000080 in October and decreasing to $0.0000044 in December, reflecting a notable price decrease over the observed period.
SHIB Price Prediction 2024
| When | Maximum Price | Minimum Price |
| January 2024 | $0.00000499 | $0.00000415 |
| February 2024 | $0.00000560 | $0.00000467 |
| March 2024 | $0.00000476 | $0.00000397 |
| April 2024 | $0.00000397 | $0.00000331 |
| May 2024 | $0.00000361 | $0.00000301 |
| June 2024 | $0.00000433 | $0.00000361 |
| July 2024 | $0.00000519 | $0.00000433 |
| August 2024 | $0.00000582 | $0.00000485 |
| September 2024 | $0.00000652 | $0.00000543 |
| October 2024 | $0.00000749 | $0.00000624 |
| November 2024 | $0.00000937 | $0.00000781 |
| December 2024 | $0.00001124 | $0.00000937 |
Throughout 2024, Shiba Inu (SHIB) experienced a steady upward price trend, with its value increasing from $0.00000415 in January to $0.00001124 in December, reflecting significant price growth over the year.
SHIB Price Prediction 2025
| When | Maximum Price | Minimum Price |
| January 2025 | $0.00001236 | $0.00000997 |
| February 2025 | $0.00001301 | $0.00000930 |
| March 2025 | $0.00001627 | $0.00001312 |
| April 2025 | $0.00001937 | $0.00001383 |
| May 2025 | $0.00002105 | $0.00001698 |
| June 2025 | $0.00002526 | $0.00001804 |
| July 2025 | $0.00002477 | $0.00001997 |
| August 2025 | $0.00002972 | $0.00002123 |
| September 2025 | $0.00003715 | $0.00002996 |
| October 2025 | $0.00004644 | $0.00003317 |
| November 2025 | $0.00005804 | $0.00004681 |
| December 2025 | $0.00006675 | $0.00004768 |
In 2025, Shiba Inu (SHIB) witnessed substantial price growth, with its value climbing from $0.00000997 in January to $0.00006675 in December, demonstrating a remarkable and consistent upward trend throughout the year.
SHIB Price Prediction 2026
| When | Maximum Price | Minimum Price |
| January 2026 | $0.00008010 | $0.00006460 |
| February 2026 | $0.00006408 | $0.00004577 |
| March 2026 | $0.00004929 | $0.00003975 |
| April 2026 | $0.00003697 | $0.00002641 |
| May 2026 | $0.00002736 | $0.00002206 |
| June 2026 | $0.00002104 | $0.00001503 |
| July 2026 | $0.00001684 | $0.00001358 |
| August 2026 | $0.00001305 | $0.00000932 |
| September 2026 | $0.00001631 | $0.00001316 |
| October 2026 | $0.00002039 | $0.00001457 |
| November 2026 | $0.00002243 | $0.00001809 |
| December 2026 | $0.00002512 | $0.00001794 |
Throughout 2026, Shiba Inu (SHIB) experienced fluctuations in its price, starting the year at $0.00008010 in January and stabilizing around $0.00002512 in December, reflecting a period of price decline and increased stability throughout the year.
SHIB Price Prediction 2027
| When | Maximum Price | Minimum Price |
| January 2027 | $0.00003015 | $0.00002431 |
| February 2027 | $0.00002412 | $0.00001723 |
| March 2027 | $0.00001855 | $0.00001496 |
| April 2027 | $0.00001577 | $0.00001126 |
| May 2027 | $0.00001325 | $0.00001068 |
| June 2027 | $0.00001019 | $0.00000728 |
| July 2027 | $0.00000815 | $0.00000657 |
| August 2027 | $0.00000632 | $0.00000451 |
| September 2027 | $0.00000790 | $0.00000637 |
| October 2027 | $0.00000987 | $0.00000705 |
| November 2027 | $0.00001086 | $0.00000876 |
| December 2027 | $0.00001216 | $0.00000869 |
Throughout 2027, Shiba Inu (SHIB) exhibited price fluctuations, with its value ranging from $0.00002431 in January to $0.00001216 in December, indicating a period of price volatility and eventual stabilization over the year.
SHIB Price Prediction 2028-2030
| When | Maximum Price | Minimum Price |
| January 2028 | $0.00001460 | $0.00001177 |
| February 2028 | $0.00001168 | $0.00000834 |
| March 2028 | $0.00001062 | $0.00000856 |
| April 2028 | $0.00000902 | $0.00000645 |
| May 2028 | $0.00000758 | $0.00000611 |
| June 2028 | $0.00000689 | $0.00000492 |
| July 2028 | $0.00000861 | $0.00000695 |
| August 2028 | $0.00001111 | $0.00000794 |
| September 2028 | $0.00001389 | $0.00001120 |
| October 2028 | $0.00001736 | $0.00001240 |
| November 2028 | $0.00001910 | $0.00001540 |
| December 2028 | $0.00002139 | $0.00001528 |
| January 2029 | $0.00001476 | $0.00001190 |
| February 2029 | $0.00001736 | $0.00001240 |
| March 2029 | $0.00002170 | $0.00001750 |
| April 2029 | $0.00002584 | $0.00001845 |
| May 2029 | $0.00002808 | $0.00002265 |
| June 2029 | $0.00003370 | $0.00002407 |
| July 2029 | $0.00003209 | $0.00002588 |
| August 2029 | $0.00002674 | $0.00001910 |
| September 2029 | $0.00003343 | $0.00002696 |
| October 2029 | $0.00004179 | $0.00002985 |
| November 2029 | $0.00004597 | $0.00003707 |
| December 2029 | $0.00005148 | $0.00003677 |
| January 2030 | $0.00005015 | $0.00004044 |
| February 2030 | $0.00006018 | $0.00004298 |
| March 2030 | $0.00005731 | $0.00004622 |
| April 2030 | $0.00004776 | $0.00003411 |
| May 2030 | $0.00005970 | $0.00004814 |
| June 2030 | $0.00007462 | $0.00005330 |
| July 2030 | $0.00008209 | $0.00006620 |
| August 2030 | $0.00009194 | $0.00006567 |
| September 2030 | $0.00008955 | $0.00007222 |
| October 2030 | $0.00010746 | $0.00007676 |
| November 2030 | $0.00010234 | $0.00008253 |
| December 2030 | $0.00008528 | $0.00006092 |
Between January 2028 and December 2030, Shiba Inu (SHIB) displayed significant price fluctuations. The cryptocurrency experienced periods of volatility, with its value ranging from a low of $0.00000451 to highs of $0.00010746 during this timeframe. Overall, these three years witnessed both substantial price increases and corrections, reflecting the dynamic nature of the SHIB market.
SHIB Price Prediction 2023-2030 in INR
|
Year WISE (in INR)
|
Maximum Price | Minimum Price |
| 2023 | ₹0.00087 | ₹0.0003630 |
| 2024 | ₹0.0009441 | ₹0.0002525 |
| 2025 | ₹0.0056739 | ₹0.0007902 |
| 2026 | ₹0.0068888 | ₹0.0008017 |
| 2027 | ₹0.0026228 | ₹0.0003927 |
| 2028 | ₹0.0018823 | ₹0.0004331 |
| 2029 | ₹0.0045821 | ₹0.0010592 |
| 2030 | ₹0.0097786 | ₹0.0031043 |
From 2023 to 2030, Shiba Inu (SHIB) witnessed varying price movements in the Indian Rupee (INR). It ranged from a high of ₹0.0097786 in 2030 to a low of ₹0.0003630 in 2023. This data reflects significant price fluctuations over the years, highlighting the volatility of the SHIB cryptocurrency in the INR market.
FAQS about SHIB
1. How can I purchase Shiba Inu (SHIB)?
- You can acquire SHIB on various cryptocurrency exchanges that list it. Notable exchanges include Binance, Coinbase, and Kraken. The process typically involves creating an account, completing verification, depositing funds, and trading for SHIB.
2. What is the purpose of ShibaSwap?
- ShibaSwap is a decentralized exchange (DEX) within the Shiba Inu ecosystem. It enables users to swap, stake, and provide liquidity for cryptocurrencies like SHIB, Leash (LEASH), and Bone (BONE). It offers yield farming opportunities and incentives for community participation.
3. What are the tokenomics of SHIB?
- Shiba Inu (SHIB) has a substantial total token supply, including tokens like Leash (LEASH) and Bone (BONE). The circulating supply, community initiatives, and token burns contribute to its tokenomics.
4. What’s the significance of ShibaSwap’s WoofPaper?
- The “WoofPaper” is a playful term for ShibaSwap’s documentation, which explains how the platform functions, including staking, liquidity provision, and farming. This terminology aligns with the meme culture surrounding SHIB.
5. Can I stake SHIB tokens on ShibaSwap?
- Yes, you can stake SHIB tokens on ShibaSwap to earn rewards. Staking involves locking your tokens for a specific period in exchange for additional tokens. Ensure you understand the terms and risks associated with staking.
6. Is Shiba Inu affiliated with Dogecoin or other cryptocurrencies?
- Shiba Inu (SHIB) has no direct affiliation with Dogecoin or any other cryptocurrency. It was created independently as a meme-based cryptocurrency with its own community and ecosystem.
7. How can I securely store SHIB tokens?
- Secure storage options for SHIB tokens include hardware wallets, software wallets, or staking and liquidity provision on ShibaSwap. Hardware wallets provide the highest level of security as they are offline and less susceptible to hacking.
Is Shiba Inu (SHIB) a Viable Investment? A Brief Analysis
Shiba Inu Coin (SHIB) entered the crypto scene in August 2020, gaining notoriety for its meme-inspired origins. As of October 2023, it holds a market capitalization of $4.28 billion. However, SHIB’s journey has been marked by extreme volatility.
Key Points:
- Price predictions for SHIB indicate potential gains but also substantial price fluctuations in the coming years.
- Recent developments include price surges, significant token burns, and notable acquisitions of SHIB tokens.
- Investors should approach SHIB cautiously, considering its high volatility, and evaluate their risk tolerance before investing.
Prior to investing in SHIB or any cryptocurrency, conducting comprehensive research, implementing risk management strategies, and staying informed about developments are essential. Due to its inherent volatility, diversifying one’s investment portfolio is advisable when considering assets like SHIB.
