Shib, its rate, forecast and prospects are topics of interest to the entire crypto community. However, some people falsely consider the meme coin as something like a copy of Dogecoin. In reality, Shib is called the "killer" of DOGE. It is a much more advanced decentralized finance token. It has wide possibilities and high potential. Let's take a look at the features of the coin in this review.
Brief description of the coin
Shiba Inu with the ticker SHIB is a meme cryptocurrency, which appeared in 2020, while its developer remained anonymous. It gained popularity due to supporting tweets of Vitalik Buterin and Ilon Musk. The token claims the role of Ethereum in the Dogecoin ecosystem. It drew the attention of investors after the Dogecoin meme's extravagant growth from 0.0002 USD to the maximum 0.75 USD. Everyone who wished to buy the asset by the end of September 2021 could participate in the Shiba rally, after which the quotes changed from 0.000007 to 0.00008 USD - by more than 1000%.
After the issuance, the developers blocked 50% of the coins, burned the remaining 50% and gave up ownership of the altcoin. SHIBA is traded on centralized trading platforms and DeFi's own ShibaSwap platform (organized similar to Uniswap). The cryptocurrency community promotes Shibu Inu memes in the NFT market.
Coin statistics for December 2021:
- the official website of the coin is shibatoken com;
- Ethereum blockchain base, ERC-20 standard;
- the number of Twitter and Reddit subscribers is more than 2.3 million;
- the number of holders about 1.1 million;
- maximum historical price of 0.00008779 USD;
- the current quote is 0.00003-0.00004.
The capitalization of Shiba Inu is about 30-35% of that of Dogecoin. The cryptocurrency is ranked in the top 20 of all cryptocurrencies.
Shib cryptocurrency is in the wallets of investors not only due to belonging to the popular meme direction, but also because of its useful features. Shib cryptocurrency is in investors' wallets not only due to belonging to the popular meme trend, but also due to its useful features. Users can earn interest on ShibaSwap's own decentralized platform by funding the liquidity pool in SHIB (as well as in other ERC-20 tokens adapted to the Shiba-inu ecosystem).
The Bone ShibaSwap management token (ticker BONE, issue 250 million) can be used to participate in decisions regarding project development.
The so-called elastic Doge Killer token (ticker LEASH) was originally intended for relocation. Then the developers changed the decision, limiting the coins to a number of 107,646.As a result, one LEASH has been quoted above 1 thousand USD for a long time, and reached almost 8 thousand USD in the short term.
Shib ShibaSwap cryptocurrency platform functions
- Dig is a liquidity creation pool where users are rewarded in SSLP tokens.
- Woof is an option that offers the right to receive rewards in bone for the ability to cash out SSLP.
- Bury is a pool for placing BONE, SHIB and LEASH at interest with income payments in BONE tokens. Accounting is done in internal tokens xSHIB, xBONE, xLEASH, which are equivalent to the base tokens in a 1: 1 ratio.
- The exchange is an asset conversion service that is promised on the platform.
- Bonefolio is a dashboard for analysis. It displays the current rates and tracks its own returns.
- NFT is a marketplace for trading non-interchangeable Shiboshis tokens.
Obviously, Shiba Inu belongs to a more advanced ecosystem than Dogecoin. Therefore, despite its seeming similarity to the low-cost DOGE token, it has independent development potential. Let's get acquainted with Shiba Inu forecast and try to assess the prospects.
At the end of 2021 the analysts forecasted the price of 0.0000050 USD for SHIB. Perhaps, the assumption will be justified. Although in the last month of the year the quotes are 0.0000040 USD, and the rate is in a downtrend.
Resistance zone, where consolidation can be expected, is located at 0.0000030-0.0000035 USD. Most likely, the growth will follow from the mentioned levels. In the horizon of the next 3-5 years the growth trend will be determined by several driving forces.
The first driver will be the development of the crypto industry as such. The digital economy is attracting more and more followers. New directions in the industry are likely to emerge. Right now, the main ones are smart contracts, NFT, DeFi, tokens from centralized platforms (like BNB) and coins from decentralized DEX platforms, such as Shiba Inu cryptocurrency.
The second factor will be the development of DEX platforms, which, although considered as complex services for the newcomers, are quite available for mastering. They are an analogue of banking institutions in a decentralized format. They make it possible to carry out fast exchanges at the best rates and also provide the possibility to earn an interest in the liquidity pools and/or to increase the turnover by borrowing money against a pledge (as a rule for the trading according to the algorithmic models). DEX platforms can be used anonymously and confidentially.
The third force will be the tension growing in the external financial system. Economists clearly predict accelerated inflation of the Russian ruble, and do not exclude the collapse of the Russian currency in the second quarter of 2022. Without revealing details, we can assume that these factors will provoke an outflow of capital from fiat risky assets-currencies and securities-and a further redistribution of investments in the world's base currencies. However, not for long, as further market forecasters expect the U.S. dollar declines. After all this there will be only two traditional safe havens - physical gold and Swiss franc.
At the same time, crypto-assets will undoubtedly get a share of deposits, as they are alternative instruments for gaining profit. They are capable of showing profits several times greater than the risk, as they belong to a rapidly developing industry. They already occupy 1 to 3% of traditional investment portfolios on an ongoing basis. We should expect that at the moment of panic moods, the share of crypto instruments will reach 5% even in conservative portfolios and Shib cryptocurrency will be among them.
Let's summarize. In the beginning of 2022 there may be short-term bearish sentiment, because the reversal pattern has not yet formed in the mentioned resistance zone of 0.0000030-0.0000035 USD. A rise is then expected.
At the end of 2022, Shib cryptocurrency is quite capable of reaching 0.0001-0.00013 USD. The annual low will probably be the level of 0.000050 USD.
A more remote prospect may bring quotes to 1 cents, which is likely to be a tipping point and attract capital from depositors. This event is expected to occur around 2025.
At the end of the decade, analysts assign Shiba Inu a value of 5 cents or higher, attributing the forecast to the undeniable development of the decentralized finance industry, which allows people to more freely dispose of their digital assets than is provided by banks.
Finally, check out the forecast for the coin's future price relative to technology sector assets.