Can Shiba Inu reach $1 in 2023? – CryptoNewsTo

Can Shiba Inu reach $1 in 2023?

Shiba Inu coin has benefited particularly strongly from the rise in cryptocurrencies in the past few days. In the last 7 days, the price was able to rise again sharply and saw a gain in value of over 20 percent. Many investors expect massive increases in the coming months and years. But can Shiba Inu reach $1 in 2023? What are some conservative predictions for Shiba Inu? Let’s analyze, without hype ?

Shiba Inu

What is Shiba Inu Coin?

Shiba Inu is an Ethereum-based altcoin with the Shiba Inu hunting dog as its emblem. It is referred to as “the Dogecoin killer” by its fans, a group known as the SHIBArmy, and is commonly regarded as a Dogecoin alternative.

Shiba Inu’s price soared more than ten times on October 29, 2021, giving the business a $41 billion market value. Despite a steep fall in market value to the current $6.2 billion as of September 25, 2022, Shiba Inu remains just behind Dogecoin in the top 10 of all meme cryptocurrencies.

Being an ERC-20 token based on Ethereum, Shiba Inu was created on and is housed on the Ethereum blockchain rather than its own blockchain. Ryoshi, the founder, claims that he chose Ethereum as the platform on which to build the Shiba Inu ecosystem because it was already secure, dependable, and allowed the project to preserve its decentralized character.

Shiba Inu Price prediction

How much does a Shiba Inu cost?

Shiba Inu prices differ based on supply and demand. Also, different exchanges have slightly different prices. The current Shiba Inu cost at the time of writing is around $0.000012.

How much is 1 million Shiba Inu worth?

Given the current price of $0.000012 for 1 SHIB, 1 million SHIB tokens would be worth around $12. Don’t get fooled when someone tells you they own millions of millions in Shiba Inu tokens, they might be worth a couple of hundred.

How to Mine Shiba Inu?

As stated previously, Shiba Inu operates on the Ethereum blockchain. Since Ethereum moved from PoW to PoS, there is no more mining for Ethereum or any other token that operates on the Ethereum blockchain. Hence, you cannot mine Shiba Inu anymore. However, you can stake Shiba Inu.

How to mine Ravencoin

Shiba Inu Coinbase – How to Buy?

Coinbase is a good exchange that offers Shiba Inu coin as an option to buy and sell. You’ll always be in charge of your SHIB holdings. You only receive incentives while keeping your cryptocurrency secure with Coinbase; your SHIB never leaves your account.

You can start buying and selling right away by simply purchasing SHIB on Coinbase or adding SHIB tokens to your Coinbase account from an external wallet. To start right away, create a Coinbase account here.

Is Shiba Inu up?

The Shiba Inu price has seen a stronger surge over the past few days. In the last 7 days, the Shiba Inu price saw an 18 percent increase. Unlike the other major meme coin, the dogecoin, the Shiba Inu coin has surged over the past week.

SHIB Course 15 Days
Shiba Inu course in the last 15 days, source:

This continues the positive development of the Shiba Inu course at the beginning of 2023. In the first days of the year, the increase in the SHIB price was even smaller. However, since January 13th in particular, we have seen multiple strong rallies that have pushed the price higher. 

exchange comparison

Why is Shiba Inu price up?

The course of the Shiba Inu Coin has achieved one of the strongest increases among the major cryptocurrencies in the last few days. Earlier in the year, the rises in meme coins DOGE and SHIB were even smaller. However, since the middle of the month, it has been particularly strong as it has triggered a lot of FOMO.

We have also seen an increase in meme coins with a certain delay in other market rallies. The fact that the Dogecoin price could not rise as much as the Shiba Inu price is probably due to the fact that Dogecoin already saw several strong rallies in the fourth quarter of 2022. 

How high can Shiba Inu price reach in 2023? 

In the coming weeks, we will have to see if cryptocurrency prices can continue to rise in the coming weeks. It is quite possible that the Bitcoin price can even rise again to a value of 30,000 dollars in the next few weeks. But there can also be a final crash of the Bitcoin price below 20,000 or even below 15,000 dollars. 

Shiba Inu Coin

However, the Shiba Inu course could continue to rise in the coming weeks and months. Theoretically, it could already rise to 0.0001 US dollars in the next few months. That would be an increase by a factor of 8 to 9. It seems like a very optimistic forecast. However, if the Bitcoin price rises above $ 50,000 this year, we could move to this mark for the Shiba Inu price.

SHIB Price Prediction – What are the targets of Shiba Inu?

Knowing where Shiba Inu is current up, we anticipate a further rise in SHIB’s price as soon as the price of $0.000018 is crossed. When this occurs, we anticipate that the whole cryptocurrency market will be back on a positive trajectory at that point. Thus, the majority of cryptocurrencies have already overcome their particular barriers.

If this happens, here are the targets that Shiba Inu can reach:

  • $0.000021
  • $0.000025
  • $0.000030

We can notice that SHIB price is not likely to increase overnight. In fact, those targets need at least 2 months as SHIB might continue lower toward the lower trendline in the short term. That’s why it might be risky currently to open a long position in SHIB.

Can Shiba Inu reach $1?

Reaching 1$ per Shiba Inu coin means that the total market cap of SHIB would hit around $550 trillion. This is definitely a very high valuation, as the total budget of the US for 2022 was around $5 trillion. SHIB is never likely to reach a 1$ price.


Can Shiba Inu reach $0.01?

For Shiba Inu to reach 1 cent, the market cap of SHIB would be around $5.5 trillion. This valuation is almost the same as the total US budget for the year 2022. Shiba Inu is never likely to reach 1 cent, especially in the current market dynamics.

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