Shiba Inu is Proving to be more than Memecoin!

Shiba Inu is Proving to be more than Memecoin!

 

Shiba Inu (SHIB) is a community-based, decentralized digital currency in the Shiba Inu ecosystem. SHIB operates on the Ethereum, Blockchain. It offers multiple advantages like quicker, cheaper, and well-organized transactions. Shiba Inu has gained admiration in the market after Elon Musk tweeted about his curiosity in owning a Shiba pup. Shiba Inu was launched to emulate what Dogecoin (DOGE) did in the past, and Shiba Inu is pretty successful in doing it.

 

Despite being successful digital currencies, both Dogecoin (DOGE) and Shiba Inu (SHIB) always get public criticism for their lack of usability. Unfortunately, it is a fact that of meme coins are just becoming widespread because of the strong digital community.

 

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One of the factors likely to play in Shiba Inu is favor is its recent entry into the Metaverse. The Metaverse is seen as one of the next big things in Cryptocurrency world. Some analysts even expect the Metaverse to hit a market value of more than US$8 trillion by the end of this decade. However, the Metaverse is just one of the explanations why investing in Shiba Inu could be a lucrative move.

 

 

Shiba Inu was one of the best performing Digital Currencies in 2021. It went up by 48,000,000%, easily thrashing the likes of BTC and ETH by a substantial margin. While Shiba Inu has been on a downtrend in the recent past, just like the crypto market, it is important to note that it has been in sync with the broader market. Essentially, what this means is that once the broader market turns bullish again, Shiba Inu will have the chance to do well.

 

Shiberse Metaverse

 

Shiberse is the Metaverse of the Shiba Inu meme Cryptocurrency, which will be a meeting point for the investors of this digital coin, with games and could also include digital land and Non-Fungible Tokens (NFTs). The Metaverse is the Shiba Inu ecosystem is own metaverse space, described by developer Eric M as “a place where our community, tokens, game, ShibaSwap and way more is going to meet together.”

 

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Hosted on SHIB.io platform it will feature 100,595 plots of land that will be made available to buy and sell. These will all be placed on the metaverse map, lined on streets with Shiba-related names. The metaverse land will also contribute towards the SHIB burn, using a rebranding process similar to the Shiboshi NFT burns. Shiboshi NFT investors will have an exclusive area of the metaverse, known as the Shiboshi Zone.

 

The coin is also getting rapidly adopted for payment purposes, and the number of organizations that accept it is on the rise. It is one of the most dominating and interesting digital currencies in the world today. It began its journey with quadrillion coins, but now almost 50% of its coins have been burned. The predictions for the year 2022 include that Shiba Inu (SHIB) can reach US$0.0001 in the Cryptocurrency space following the cryptocurrency winter. By 2023 the pricing is expected to rise to US$0.00015 and by 2025 US$0.0002. The ecosystem for this coin is still in its developmental phase, and this year, its performance is bound to heighten.

 

Shiba Inu (SHIB): Will it reach $1?

 

This year, SHIB investors are still wondering if the price of Shiba Inu will reach US$1. To do this, various data must be taken into consideration. Currently, Shiba Inu has a total supply of 589.6 trillion coins. If SHIB reaches a price of US$1 with this supply, it should have a market capitalization of US$589.6 trillion.

 

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In this sense, it would become the most treasured asset on the planet, surpassing the market capitalization of Apple Inc by about 235 times. Apple is currently the company with the largest capitalization across the globe. Based on this hypothesis, if Shiba Inu should reduce its current supply by more than 99%. In this sense, the burning of SHIB coins is being carried out to reduce the circulating supply of the meme cryptocurrency.

 

Shiba Inu Price Prediction for 2022

 

The cryptocurrency space started considering Shiba Inu as a worthy investment avenue since the coin was accepted for listing in the Binance exchange. Last year, the Cryptocurrency witnessed its price skyrocketing exponentially within a very short period. However, it did not succeed at holding its position. But analysts and experts predict that mid-2022 might hold a different story for the SHIB coin. Due to the rapidly increasing popularity of cryptocurrencies all over the world, SHIB may also catch the attention of investors looking for an affordable investment option. But studies reveal that as its price fell almost 60% compared to its all-time high, several investors are evading investing in SHIB tokens. Nevertheless, several large ‘whales’ have recently invested massive amounts into Shiba Inu Coins which also indicates that its price may rise in the future.