It's quite common for successful projects to see imitators pop up, so it's understandable that the well-known cryptocurrency Dogecoin wasn't able to avoid this fate. The creators of the Shiba Inu cryptocurrency tried to repeat Doge's success, which was based on the Shiba Inu dog meme. This article will walk you through important facts about Shiba Inu, help you assess its prospects and show you price predictions for it.

What is Shiba Inu (SHIB)?

Shiba Inu (SHIB) is a fairly young cryptocurrency created in August 2020 by an anonymous developer under the pseudonym Ryoshi. The coin's creator positions it as the "Dogecoin killer" and chose the Shiba Inu dog as its logo, which is also the Dogecoin logo.

While SHIB strives to emulate and possibly surpass Dogecoin's success as a meme cryptocurrency, they have several differences. SHIB is based on the Ethereum blockchain and is an ERC-20 token. Moreover, in the future, the SHIB coin itself should become an internal token of the developed decentralised Shiba Inu ecosystem, which, among other things, will include the ShibaSwap decentralised exchange.

When Shiba Inu was created in August 2020, the developers sent half of SHIB 1 quadrillion tokens to the decentralised Uniswap exchange, and the keys to the wallet were thrown away. This means that 50% of tokens are in circulation, but the developers cannot dispose of them. According to the developers, this was done to provide users with an open market for exchanging and fairly distributing tokens. The second half of the token issuance was sent to the public wallet of Ethereum founder Vitalik Buterin. In May 2021, Vitalik donated a portion of his Shiba Inu tokens, worth $1.2 billion, to fight COVID-19 in India. After that, on 16 May 2021, he sent 90% of his remaining SHIB tokens to an inaccessible address that burned them.

I don't want to be a locus of power of that kind. Better to just print the coins into the hands of a worthy charity directly. — Vitalik Buterin

As such, the developers didn't keep any tokens for themselves. To get any, they'd have to buy them on the market just like ordinary users.

Shiba Inu (SHIB) price analysis

When writing this SHIB price prediction on 3 May 2023, SHIB ranked 15th among cryptocurrencies by market capitalisation at $5,815,987,164.

SHIB price statistics (as of 3/05/23)

SHIB's price history

Although the coin appeared in August 2020, its price remained negligible until April 2021, when it jumped to $0.0000042. A subsequent correction pushed the price down to the range of $0.00000085-$0.0000022. It remained at that level until the beginning of May.

In the first ten days of May, the price rose sharply in response to the coin's listing on several large exchanges and reached an all-time high on 10 May 2021 after being listed on the largest crypto exchange Binance.

On 12 May, Vitalik Buterin spent part of his SHIB tokens on charity, after which the price fell by over a half. The subsequent burning of 90% of his remaining tokens didn't have a noticeable effect on the price, and it kept falling. 

In October 2021, Elon Musk shared a tweet about his Shiba Inu dog that gave SHIB a 600% boost. SHIB went on to reach a new all-time high of $0.00008845 on 28 October 2021, around the same time that an anonymous crypto whale bought 276.6 billion SHIB tokens, the equivalent of $12.2m.

SHIB continued to dominate headlines and became the third-most Googled crypto of 2021. However, following three consecutive weeks of volatility and another tweet from Musk, who revealed that he did not actually own any SHIB, the token slipped from the 11th largest cryptocurrency with a market capitalisation of more than $41bn, to the 12th largest with a $21.1bn market cap, according to CoinMarketCap.

On 24 January 2022, SHIB tweeted it was entering the metaverse with "an immersive experience for our ecosystem" called the Shiberse.

In October 2021, Elon Musk's tweet about his Shiba Inu dog caused a 600% increase in the value of the SHIB cryptocurrency. This surge in value led to SHIB reaching an all-time high of $0.00008845 on 28 October 2021. Around the same time, an anonymous individual purchased 276.6 billion SHIB tokens, which were worth $12.2 million.

SHIB remained a popular topic in the news and was the third-most searched-for cryptocurrency on Google in 2021. However, after three weeks of volatility and another tweet from Musk, where he clarified that he did not actually own any SHIB, the token's market capitalisation decreased from over $41 billion, which earned it the 11th spot for largest cryptocurrency, to $21.1 billion, making it the 12th largest cryptocurrency, according to CoinMarketCap.

As of 1 February 2022, SHIB was being traded at approximately $0.00002171. February saw some promising developments for Shiba Inu, including the announcement of a partnership with fast-food chain Welly's, which caused a surge in its value to $0.00003493 on 7 February. The price remained high until global tensions caused a downturn in the market. Even the news of Shiba Inu getting its metaverse on 11 February and the launch of its digital autonomous organisation (DAO) on 18 February failed to stop the decline.

On 24 February 2022, the value of Shiba Inu plummeted to $0.00002098, but it later experienced a slight recovery, trading at around $0.000025 by 4 March. On 28 March 2022, the SHIB token experienced a rally, reaching a high of $0.00002927. However, the token's value became incredibly volatile on 12 April, dropping to $0.00002198, followed by a rapid increase to $0.00002977. Since then, the overall trend of the price has been on a downward trajectory, and by 19 April, it was trading at approximately $0.000025. This was despite the news of American cinema chain AMC Theatres accepting payment in crypto.

On 20 July, the SHIB token rallied again to hit a high of $0.00001307. However, by the end of the month, it closed at $0.00001171. On 8 August 2022, SHIB was trading at approximately $0.00001235.

At the time of writing this SHIB price prediction on 3 May 2023, the token's value decreased by -0.84% in the past 24 hours. Shiba Inu has been struggling to keep up with other cryptocurrencies lately. The coin has experienced a decrease of almost -6.4% in the past 7 days, despite having strong fundamentals. It is unlikely to be a profitable asset in the short term.

Looking at the past month, the price of SHIB has dropped by -14.590%, resulting in an average loss of $0.00000169 from its current value. However, this dip may present a good buying opportunity for those looking to invest quickly.

Over the past 90 days, SHIB has experienced a price change of around 4.25%. During this time, the coin's price ranged from an average minimum of $0.00000882 to an average maximum of $0.00000969.

SHIB technical analysis

As of 3 May 2023, technical indicators were showing a bearish sentiment with a Fear & Greed Index of 64 (Greed). Over the last 30 days, Shiba Inu had 14 out of 30 (47%) green days and has experienced 4.29% price volatility. It lets us conclude that it is currently not a good time to buy Shiba Inu, as it is trading below the 200-day simple moving average (SMA) and the 50-day SMA, both of which have been signalling a sell for the past few weeks.

The last Death Cross in the Bitcoin market occurred on 17 February 2017, while the most recent Golden Cross occurred on 14 February 2023. Based on the technical indicators, Shiba Inu's 200-day SMA could decrease in the next month to reach $0.00001059 by 2 June 2023. Additionally, Shiba Inu's short-term 50-Day SMA could hit $0.00001024 by the same date.

Shiba Inu price prediction 2018-2019

The SHIB was created in August 2020 and did not trade before that date.

Shiba Inu price prediction 2023

Based on technical analysis, it is predicted that Shiba Inu prices in 2023 will have a minimum cost of $0.0000173583 and a maximum level of $0.0000208179. The average trading price is expected to be around $0.0000179982.

Shiba Inu (SHIB) price prediction for 2023, 2025 and 2030

Now is the time to find out what famous cryptocurrency experts think about the SHIB token's prospects. As usual, we've compiled for you SHIB mid-term and long-term price predictions made by the most renowned of these experts.

WalletInvestor's SHIB price prediction for 2023, 2025 and 2030

WalletInvestor considers Shiba Inu to be bad for investment. According to their calculations, the coin has the potential to fall to $0.000000692 in one year. According to their estimates, Shiba Inu's price may reach $0.000000544 in 2025 and $0.000000614 in 2027. In five years, WalletInvestor estimates the token's value to average $0.000000793.

DigitalCoinPrice's SHIB price prediction for 2023, 2025 and 2030

Digitalcoin also predicts gradual growth for the SHIB token. Their forecast sees the coin costing as much as $0.0000254 in 2024 and $0.0000334 in two years. Not much growth is expected in three years, but it could rise to $0.0000526 in 2028 and $0.000101 in 2030.

PickACrypto's SHIB price prediction for 2023, 2025 and 2030

PickACrypto is even more optimistic about Shiba Inu's prospects. Here's a statement from their website.

From 2023 to 2025, we think the price of SHIB to visit the $0.0002000 to $0.0005000 USD area as the Team continues to develop their products and those products receive adoption from the target audience. This SHIB price prediction is based on several data sets and predictive modelling, which assumes the current long-term trend driving the price of SHIB continues in an upwards direction with no major setbacks.

Shiba Inu (SHIB) overall future value predictions

Shiba Inu is a controversial project. It was created as a competitor to Dogecoin, a coin that achieved popularity through hype. And although the developers intend to expand the project by building an ecosystem around it, to date, their specific plans are mostly unknown to the crypto community. The project doesn't even have a detailed roadmap. Although investing in such projects can bring substantial profits, doing so is highly risky, even compared to investments in other cryptocurrencies.

Will Shiba Inu go up?

Many cryptocurrency experts think so, but it's worth bearing in mind that if the developers abandon the project or the hype doesn't support its popularity anymore, the token's price may decrease significantly.

How high can SHIB go?

It will be difficult for Shiba Inu's price to reach high absolute values due to the huge number of tokens issued. However, its relative growth can be quite significant. As mentioned above, some experts predict a possible price increase to $0.0005, which is many times higher than its current price.

Shiba Inu price prediction today

According to some price prediction models, the price of Shiba Inu could range from $0.0000173583 to $0.0000208179 in 2023, with an average trading price of around $0.0000179982. However, it's important to keep in mind that these are just estimates and are subject to change.