Shiba Inu coin price prediction 2030: could Shiba Inu coin reach $1? Third party price target
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What is Shiba Inu?
Shiba Inu (SHIB) is a popular cryptocurrency launched in 2020 and often labelled as a memecoin due to its dog-themed branding and speculative nature. Despite scepticism about its long-term viability, its developer community has been expanding its ecosystem, adding tokens like LEASH and BONE, along with a decentralised exchange called ShibaSwap. As of 24 October 2024, Shiba Inu ranks among the top 20 altcoins with a market cap of $10.42 billion and a price of $0.00001745. Needless to say, these figures are subject to significant change due to the high volatility of cryptocurrencies.
Below, we’ll look into Shiba Inu’s third party price forecasts as well as its historical price performance, its origins, founders, recent news, and analyst price predictions for 2030 to enable traders and investors to make up their own mind about whether this coin deserves a place in their portfolio.
Past performance is not a reliable indicator of future results.
Shiba Inu predictions for 2030 round-up
Price forecasts for Shiba Inu for 2030 vary widely across different platforms. According to Changelly, the price could range between $0.000185–$0.000225 by 2030, with an average of $0.000191. AMBCrypto, on the other hand, predicts an average price of $0.000053 by 2030, while CoinGape envisions a potential high of $0.000191 in 2030. It’s important to note that long-term predictions for cryptocurrencies – especially for an asset as volatile as SHIB – are highly speculative and often inaccurate.
Shiba Inu forecasts for 2030–2035 and beyond
Longer-term forecasts for Shiba Inu from 2030 to 2035 and beyond include CoinMarketCap, which sees potential for the Shibu Inu price to reach a maximum level of $0.0001051 in 2030, with an average value of around $0.0001020 that year. Coingape.com has predicted that by 2031, Shiba Inu could see an average price of $0.000210, and has speculated on an average price of $0.000317 for 2032, $0.000458 for 2033, and $0.00593 by 2040.
CoinMarketCap’s longer-term speculation is that Shiba Inu might get to around $0.025 between the years 2035 and 2040, which would represent a significant uptick. Coincodex.com has based its own 2040 Shiba Inu prediction on the 11.1% compound average return rate of the US 500 index over 40 years. This results in speculation that a $1,000 investment in SHIB made in 2024 might grow to around $6,014 by 2040.
Again, long-term predictions for cryptocurrencies are highly speculative and often inaccurate.
Could Shiba Inu coin reach $1?
While many investors hope for Shiba Inu to reach $1, this scenario is considered unlikely given the token's vast supply. For SHIB to reach $1, its market capitalisation would need to exceed that of many global economies, making it a highly improbable target based on current metrics. However, the token's value could still see significant appreciation depending on market conditions and developments within the ecosystem.
Who founded Shiba Inu?
Shiba Inu was founded by the anonymous developer known as Ryoshi, similar to Satoshi Nakamoto, the pseudonymous founder of Bitcoin. Ryoshi has maintained anonymity throughout the project's development, opting to stay in the background. Ryoshi’s last public communication was a blog post on 30 May 2021, where they stated:
‘I am not important, and one day I will be gone without notice. Take the SHIBA and journey upwards, frens’.
Since then, Shytoshi Kusama, the lead Shiba Inu developer, has carried the project forward, maintaining the decentralised vision Ryoshi set in motion. Kusama emphasised that Ryoshi’s anonymity adds to the mystique of the project and highlights its organic growth as a revolution in ‘meme’ tokens.
Shiba Inu price history
Let's now take a look at some of the SHIB price history. While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can help give us some context if we want to either interpret or make a Shiba Inu price predictions.
At the time of its launch in August 2020, SHIB was trading at around $0.0000000001, data from CoinMarketCap showed. SHIB stayed around that level for the rest of 2020 and only saw a breakout in its price in May 2021 as the token hit a high of about $0.00038 on 10 May 2021, after it was listed by the FTX crypto exchange.
While the token fell into the doldrums over the summer, it recovered over the course of the Autumn to reach an all-time high of $0.00008845 on 28 October 2021. However, the highs could not last and it closed the year at $0.000033 – more than 60% below the high it had enjoyed a little over two months earlier.
Cryptocurrencies fell in 2022, and SHIB was no exception. The collapse of the Terra ecosystem in May hit the market hard and, on 18 June, SHIB fell to its lowest price in about eight months as it traded at $0.0000071.
Things ultimately continued to decline over the rest of the year and it closed 2022 at $0.000008087, an annual loss of more than 75%.
2023 saw the crypto market make a recovery and, on 3 April 2023, SHIB was worth about $0.00001077. In 2024, the big month for Shiba Inu was March, when the price moved from $0.00000963 to $0.00003629 over a couple of weeks, representing a percentage rise of 276.84%. However, the price tailed off again over the year to around $0.00001767 by October.
FAQs
What is Shiba Inu?
Shiba Inu is a cryptocurrency inspired by the Shiba Inu dog breed, initially created as a meme coin. It runs on the Ethereum blockchain and is part of the broader decentralised finance (DeFi) ecosystem, offering a range of uses including staking, NFTs (or non-fungible tokens), and trading within the ShibaSwap platform.
Is Shiba Inu a long-term investment?
For those looking at Shiba Inu as a long-term investment, it’s important to remember that a volatile cryptocurrency, Shiba Inu carries significant risk. It appeals to traders seeking high-risk, potentially rewarding opportunities, but it’s essential to approach it with caution for long-term investing.
What is the highest Shiba Inu can go?
On how high Shiba Inu can go, predictions vary widely. However, most experts agree that Shiba Inu is unlikely to reach extreme highs like $1 due to its massive supply. However, smaller gains are possible depending on market conditions.
Is it worth investing in Shiba Inu?
Investing in Shiba Inu carries risks due to its volatility and speculative nature. Traders looking for high-risk, short-term opportunities may find it appealing, but it’s crucial to assess your risk tolerance before investing.
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