Dogecoin: Expert discusses Elon Musk’s tweets
Make the most of your money by signing up to our newsletter for FREE now
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Dogecoin’s success has rendered it the world’s most successful meme coin – but Doge isn’t far behind. Similarly inspired by the world of Shiba Inu dog memes and largely dismissed as a joke since it launched in August 2020, SHIB is worth $0.000006269 at the time of writing on July 25. This price, according to Coin Market Cap, has dwindled 3.49 percent in the last 24 hours. SHIB’s market cap stands at $2,474,989,230 at the time of writing, down 3.5 percent in the same period of time.
Speaking to Express.co.uk, CEO and Co-Founder of Voyager Digital, Steve Ehrlich said SHIB could go far.
Mr Ehrlich said: “The Shiba Inu coin was recently added to the growing list of cryptocurrencies available for trading on the Voyager app.
“While SHIB was widely known as a light hearted meme coin, it’s become akin to DeFi cousin Dogecoin and has created a resoundingly strong community.
“Built on the ethereum network, Shiba Inu was designed to be completely community driven and governed, breaking away from traditional financial structures and remaining true to the core values or decentralised finance.”
Shiba Inu value: What will Shiba Inu be worth in 2022? (Image: Getty)
The SHIB network is making moves as well, indicating it could be ready to go mainstream in the near future.
Mr Ehrlich added: “The Shiba Inu network also just released ShibaSwap, a decentralised exchange that allowed users to trade between SHIB and other tokens, as well as stake their coins to gain returns.
“Due to the network’s increasing utility, there is potential for SHIB to grow in terms of adoption and demand.”
This week, crypto went into a frenzy as Space X and Tesla CEO Elon Musk announced he only has holdings in three other areas – bitcoin, DOGE and ETH.
SHIB has been modelled on the original meme token, DOGE (Image: Getty)
The short term price predictions for SHIB are incredibly broad.
However, different forecasters have different scales of growth predicted for Shiba Inu over the next year or so.
The first long-term prediction comes from Digital Coin Price, which gives a top forecast of $0.00001039 for 2021.
According to these predictions, SHIB’s value won’t exceed its current ATH [all time high] of $0.00003628 at any point during the next seven years.
Dogecoin forecasted to smash past $1 in sensational rebound [INSIGHT]
Record £180m Bitcoin haul seized by police [REPORT]
Bitcoin warning as experts identify ‘significant limitation’ [ANALYSIS]
Shiba Inu could grow, but the forecasts are very broad right now (Image: SHIB)
According to Coin Price Forecast, the price of SHIB will be valued at:
$0.00001127 – 2021
$0.0000133 – 2022
$0.00000145 – 2023
$0.0000182 – 2024
$0.000021 – 2025
$0.00000240 – 2026
$0.0000283 – 2027
$0.0000313 – 2028
$0.000067 – 2029
$0.000091 – 2030
For 2022 through to 2025, Cryptocurrency Price Predictions forecasts are even more bullish.
Over the next four years alone, the platform believes SHIB will increase from $0.0000491 to $0.0003407.
If this is to come true, it would represent an impressive annual percentage growth of 197.9633 percent.
CPP’s maximum price target for December 2025 is almost ten times higher than the asset’s current ATH of $0.00003628, suggesting the long-term prospects of SHIB are very strong.
However, as a long term investment it projects Shiba Inu could perform much better, and according to its predictions the value could reach $0.000019 by the very end of 2021, rising to $0.000024 in 2022 and going on to achieve $0.000076 in 2025.