Shiba Inu has at one time been the best-earning cryptocurrency coin.
The coin shot into fame as a meme coin following the success of the "OG" meme coin (Dogecoin) and it slowly became popular. The coin started as a joke and chose the symbol of a cute Shiba Inu dog like the one used by Dogecoin.
In 2021, the SHIB/USD price grew from the year's low to the year's high by over 150 times. So, investors earned hundreds and thousands of percent in profit, making it the most successful coin in market history.
Shiba Inu's success was primarily due to the success of Dogecoin and the endorsement by billionaire and Founder of Tesla, Elon Musk.
Sadly, the coin's value has drastically dropped in the past few months, begging the various questions; is SHIB dead? Will SHIB make a comeback?
In this article, we will discuss why the Shiba Inu coin is down, why it will rise again and where you store your SHIB safely.
The crypto market experienced a "crypto winter" downturn in 2022, causing most coins to decrease in value. SHIB was hit particularly hard.
SHIB's technology is not advancing as fast as other major cryptos, making it less appealing to investors.
The huge supply of SHIB coins in circulation is a major setback, as there are over 500 trillion tokens still in supply. This concentration reduces demand.
Shiba Inu faces intense competition from thousands of other cryptocurrencies, as well as from the more established Dogecoin in the meme coin space.
Rising interest rates by the Federal Reserve negatively impacted riskier crypto investments like SHIB. The easy money period was over.
SHIB's strong community and developers are working to improve the coin through new services like a metaverse and more merchant acceptance.
Elon Musk has tweeted about it positively in relation to his dog Floki, which boosted prices. Though he claims not to own SHIB, his influence could help prices going forward.
As a deflationary coin, the SHIB supply decreases over time through coin burns, which could increase scarcity and prices long-term.
| Shiba Inu Price 1y Return | -38.43% |
| Shiba Inu Price 1m Return | -1.77% |
Shiba Inu hit its highest value at above $0.00008 per token in October 2021. In addition, the coin ranked among the top 10 most valuable cryptocurrencies surpassing Dogecoin in market share.
However, the coin took a huge blow afterwards, with a token going for less than a quarter of the high.
While most coins also decreased in value during the period, SHIB faced the most damage. On the other hand, Dogecoin faced a mild decline and is now the most valuable meme coin by market capitalization.
Let's look at why Shiba Inu Coin is down.
Will shiba inu coin reach $1? Or price go up to 1 cent only?SHIB is not the only digital currency with a dip in value; the crypto market has been facing a crypto winter.
Crypto winter is a term that describes a prolonged downturn in cryptocurrency prices. The period is characterized by crypto prices contracting and remaining low over a long time.
You'll sometimes find financial experts comparing crypto winter to a bear stock market. It represents negative sentiment and lower average asset values among leading digital coins.
Cryptocurrency prices have been decreasing for many reasons, like the war in Ukraine and the high-interest rates in the US(crypto's most significant player).
The word technology is very synonymous with cryptocurrency. So, any crypto coin seeking to perform well must provide users with advanced technology.
Shiba Inu coin lags in the type and quality of technology it provides its users. Compared to other big cryptocurrencies like Bitcoin and Ethereum, it provides a more primitive user experience and options.
While the developers behind SHIB are trying to improve their technology, their pace is still slow, making crypto investors look away. Other coins are performing better and pulling more investors leaving Shibu Inu trailing.
One of the most significant setbacks with the Shiba Inu coin is the number of coins left; they are just too many.
Since its inception, 400 trillion tokens have been burned. While that number is impressive, there are still 590 trillion tokens in supply. An unlimited number of coins are circulating, leading to supply concentration against reduced demand.
Compare this to the 1,836,318.8 Bitcoins yet to be mined, and you can see that the limited supply makes the coin more valuable.
Shibu In launched a burn portal to counter the enormous supply of SHIB coins, and while the project is impressive, the supply remains high.
Shiba In coin is just one of the many cryptocurrencies today. According to Statista, there are nearly over 10,000 cryptocurrencies in the market.
Competition is very stiff for SHIB. First, its "twin" Dogecoin makes it the second most successful meme coin, making investors prefer Doge.
Secondly, big and well-established coins like Ethereum and Bitcoin are taking most investors. Coupled with the fact that the remaining coins must share the few remaining investors, it became hard for SHIB to compete.
The number of investors exiting the market also brought down the number of available investors.
Cryptocurrency is directly affected by Federal interest rates; an aggressive rate hike impacts crypto prices negatively.
Shiba Inu coin has been caught in the FED interest rate hikes that influence general risk appetite.
| Year | Price in the middle of the year | Price at the end of the year |
|---|---|---|
| 2024 | $0.000009986 | $0.000010351 |
| 2025 | $0.000010729 | $0.000011122 |
| 2026 | $0.000011528 | $0.000011949 |
| 2027 | $0.000012386 | $0.000012839 |
| 2028 | $0.000013308 | $0.00001379 |
| 2029 | $0.000014298 | $0.000014821 |
| 2030 | $0.000015362 | $0.000015924 |
| 2031 | $0.000016506 | $0.000017109 |
| 2032 | $0.00001773 | $0.00001838 |
| 2033 | $0.000019054 | $0.000019750 |
| 2034 | $0.000020472 | $0.0000212 |
| 2035 | $0.000021995 | $0.000022800 |
Shiba Inu has a very passionate and active community. The Shiba Inu community is one of the most welcoming communities in cryptocurrency. There are over 137,000 members in the Shiba Inu Discord group and over 789,000 followers on Twitter.
Shiba Inu is one of the popular discussions on Twitter right now, with billionaire influencers such as Elon Musk, Mark Cuban, and Chamath Palihapitiya talking about it. Shiba Inu's community is very friendly and helpful, which is why the coin has rapidly grown.
The price of Shiba Inu has corrected significantly over the past few months. Recent price movements of SHIB have been positive, which suggests it could be an excellent long-term investment.
For example, in October of 2021, Shiba Inu reached an all-time high of $0.00008, and following that, it fell continuously, eventually going to $0.0000077 by June of 2023.
But since then, throughout the last few months, the Shiba Inu has been on a tear, and the price has risen significantly.
Cryptocurrencies have recently gained the attention of celebrities. One such celebrity who shapes market sentiment is Elon Musk. Musk claims not to own Shiba Inu coins, but his tweets have impacted the price of Shiba Inu and Dogecoin. In the past, Musk's tweets about his dog named Floki with a Shiba Inu logo have positively impacted Shiba Inu prices.
Since Musk maintains that he is still pro-crypto despite the market collapse and a lawsuit over Dogecoin, he may continue to influence SHIB's price in the future positively.
Shiba Inu is a deflationary cryptocurrency, which means that the supply of Shiba Inu coins decreases over time. Shiba Inu has a burning mechanism that destroys Shiba Inu every time someone buys or sells Shiba Inu coins on ShibaSwap.
The burning mechanism reduces the supply of Shiba Inu coins, which could increase the price of Shiba Inu (SHIB) in the future.
In the world of meme coins, Shiba Inu has strong competition from Dogecoin. Shiba Inu was created as a parody of Dogecoin and has become a significant competitor. But it remains to be seen if Shiba Inu can dethrone Dogecoin as the king of meme coins.
Dogecoin has been around for much longer and has a more established community. Shiba Inu also has a lot of work to do before it can be considered a serious competitor to Dogecoin. However, Shiba Inu has a lot of potential and could eventually dethrone Dogecoin as the king of meme coins.
Should I Buy Shiba Inu Coin (SHIB) 2024? Top Pros and ConsPredicting the future price of SHIB is not an easy task. No one saw the coin appreciate in 2021, while the sudden fall was unpredictable.
However, some crypto analysts predict that the coin will go up again. Below are some top price predictions for Shiba Inu coins for 2023 to 2025.
Note: The predictions are made depending on current independent assessments. The situation and market may behave differently as time passes, and the price may differ from the predicted. Remember that crypto is highly volatile, and you should risk assessment before investing.
The TU analysts also do not expect substantial growth of the Shiba inu coin price. According to their forecast, SHIB price can reach a range of $0.00000932 – $0.000011386 by the end of 2023.
| Month | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| March 2024 | $0.000008828 | $0.000009808 | $0.000010789 |
| April 2024 | $0.000008881 | $0.000009867 | $0.000010854 |
| May 2024 | $0.000008934 | $0.000009927 | $0.000010919 |
| June 2024 | $0.000008988 | $0.000009986 | $0.000010985 |
| July 2024 | $0.000009041 | $0.000010046 | $0.000011051 |
| August 2024 | $0.000009096 | $0.000010106 | $0.00001112 |
| September 2024 | $0.000009150 | $0.00001017 | $0.000011184 |
| October 2024 | $0.000009205 | $0.00001023 | $0.000011251 |
| November 2024 | $0.000009261 | $0.000010289 | $0.000011318 |
| December 2024 | $0.00000932 | $0.000010351 | $0.000011386 |
| Month | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| January 2025 | $0.000009372 | $0.000010413 | $0.000011455 |
| February 2025 | $0.000009428 | $0.000010476 | $0.000011523 |
| March 2025 | $0.000009485 | $0.000010539 | $0.000011592 |
| April 2025 | $0.000009542 | $0.000010602 | $0.00001166 |
| May 2025 | $0.000009599 | $0.000010665 | $0.000011732 |
| June 2025 | $0.000009656 | $0.000010729 | $0.000011802 |
| July 2025 | $0.000009714 | $0.000010794 | $0.000011873 |
| August 2025 | $0.000009773 | $0.000010859 | $0.000011945 |
| September 2025 | $0.000009831 | $0.000010924 | $0.000012016 |
| October 2025 | $0.000009890 | $0.000010989 | $0.000012088 |
| November 2025 | $0.000009950 | $0.000011055 | $0.000012161 |
| December 2025 | $0.000010009 | $0.000011122 | $0.000012234 |
Shibu Inu is not yet dead. However, the price corrections will continue to shift without a specific projection. If recent trends are to go by, investing in SHIB is risky. The coin's value is volatile and could go lower at any time. The coin started as a joke and depended on how much the internet talks about it. Such coins are the mercy of hype and fame which is unsustainable.
If you decide to invest in SHIB, ensure you know its disadvantages and advantages. You'll take advantage of the low prices and invest long-term or use it to diversify your portfolio.
Buying crypto when it is low is a good strategy. You'll leverage the low prices and buy with the aim of a long-term investment. However, you must take caution and plan how you will invest. First, you'll need to figure out the best investment coin.
Look at the current situation in the market, have the basic technical and fundamental analysis skills, develop a system, and trade your emotions in check. Focus on assets with long-term prospects to allow you to wait for the prices to rise again.
| Current Price | Market Cap | 1 m return | 1 y return | ||
|---|---|---|---|---|---|
2372.64$ |
284.8B |
6.81% |
41.99% |
||
43098.95$ |
845.8B |
-1.89% |
85.45% |
||
96.88$ |
41.7B |
8.32% |
306.72% |
||
0.50$ |
17.0B |
0.77% |
24.92% |
||
6.81$ |
8.9B |
-1.33% |
-1.93% |
||
34.16$ |
12.6B |
1.55% |
63.99% |
||
0.51$ |
27.4B |
-8.43% |
25.12% |
||
0.81$ |
7.7B |
0.54% |
-36.58% |
||
0.03$ |
2.0B |
-2.37% |
7.86% |
||
18.29$ |
10.9B |
39.05% |
154.09% |
Cryptocurrency trading platforms are always at risk of hacks. Hackers want to access the account wallets and steal the stored crypto coins. So, it begs the question of where to safely store your Shiba Inu coins.
Your trading platform is not the most secure place for your coins. Even while our recommendations are highly secure, they can be vulnerable.
The safer option is using personal wallets that give you control over your coins. For example, you can opt for the clunky but safer hardware wallets or free and easy-to-use soft wallets.
Ensure to keep your key safe, as it is irretrievable when lost. Also, avoid sharing the key with unknown people.
Compare the best crypto wallets
The following tools and instruments were used for making the prediction:
Basic instruments of technical analysis. The forecast relies on basic technical indicators. The analysis was performed mostly on medium and long-term time frames for more accurate results.
Statistical tools that allow experts to evaluate the probability of an event that may influence the prices of cryptocurrencies.
Individual features of a cryptocurrency startup and its competitiveness: number of tokens in free circulation, restriction of emission, potential usefulness of the startup for the society, roadmap and development plans of the startup, potential vulnerability of the startup’s blockchain, examples of hacks, failures in the entire history of cryptocurrency existence, capitalization dynamics compared to key competitors, share of major coin holders and other subjective factors.
Note:
This price prediction is based on current information and historical data. Strong fundamental factors capable of radically changing the overall situation in the cryptocurrency markets, impacting the prices of certain cryptocurrencies and subsequently changing the price trend, may appear in the future. The price predictions are updated regularly based on the latest data.
This article is created for informational purposes only and does not constitute investment advice. Be aware of the high volatility of cryptocurrencies and consider these risks when making investment decisions.
Yes. Shiba Inu developers are working hard to make the coins look more legit. They are now moving from a meme token to a utility network; they are now introducing the metaverse where users can mint land, and owners will earn through the land. They have also increased where they are accepted as payment, including AMC, Lavu, and Verifone. You can now also stake crypto through the new Shibaswap- DeFi services.
SHIBU is a better investment if you want to invest in the long term. However, it is important to note that the coin is highly volatile, and some people have lost their SHIBU investment. In addition, the coin is highly reliant on hype and popularity and will be deep in price when its popularity decreases. In the case of good popularity, it is a good investment and vice versa.
Cryptocurrency is affected by various factors, such as the speculative hype in the global financial markets. In the year 2021, they impacted the prices, and if the trend continues, it will affect the price. Furthermore, in 2024, the News of launching and developing the decentralized exchange (DEX) may also affect the Shiva Inu coin price.
Keeping your money in the back and investing it in cryptocurrency are opposites. The former assures you of receiving your money alongside interest while the latter gives no assurances and inherent value supporting them like savings accounts. So, it is ill-advised to put all you have into cryptocurrency. Instead, protect yourself from losses.
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.
