Shiba Inu was launched in August 2020 by an anonymous entrepreneur named Ryoshi. The goal of memecoin is to provide the Internet community with a truly decentralized virtual currency that is entirely managed by them. What characterizes Shiba Inu is that it is an ERC-20 token. This is a token creation protocol related to the Ethereum network. This crypto has a large community: the SHIBArmy . It gathers nearly 500,000 people around the project, which could have ranked it among the best altcoins.
There are several questions that can be addressed regarding the future of Shiba Inu. However, trying to look into the future of the crypto-currency industry is always complicated. SHIB is a token that has a young life and its development fundamentals could also change from one day to the next. Thus, the decisive questions for the future of Shiba Inu Coin are multiple and can be evaluated in the short and long term.
General informations about Shiba Inu
- Shiba Inu is an ERC-20 altcoin created on the Ethereum blockchain.
- There are nearly 400 trillion SHIB tokens in circulation, with a maximum supply of one quadrillion tokens.
- All available coins are already in circulation and held by the community.
- The creators of Shiba Inu have created an ecosystem of three currencies, SHIB, LEASH and BONE, and a decentralized exchange called ShibaSwap.
- SHIB: the main token of the ecosystem, available for trading and investment on most crypto exchange platforms.
- LEASH: with only 107,646 units available, this is the most limited of the Shiba Inu-related tokens. It allows for gains by providing liquidity to the Shiba Inu ecosystem.
- BONE: This token, with a supply of 250 million units, is used to allow Shiba Inu users to vote for upgrades to the project.
- Ryoshi sent Vitalik Buterin, the creator of Ethereum, half of the token supply.
- Buterin donated and burned all of his holdings in early May, causing the price to plummet. SHIB’s white paper was updated after Buterin’s donations, stating that they were good for the coin and that Buterin is a “friend of SHIB.”
- Some SHIB investors were misled into believing Buterin was an investor in the project.
- ShibaSwap received an audit that revealed centralization risks where a developer had the power to “withdraw all ERC20 boneToken to any arbitrary address” they wanted.
What affects the value of Shiba Inu (SHIB)?
- The token burn or decommissioning of SHIB tokens which eventually reduces the number of SHIB tokens in circulation and promotes price appreciation.
- The adoption of SHIB by major electronic payment players.
The evolution since 2020
To try to understand how Shiba Inu may evolve in the short and medium term, it is important to know a little about its history. Here’s what to remember about the still recent history of this crypto-currency and the evolution of its price.
- August 2020: Creation and launch of Shiba Inu. The crypto is launched as a direct competitor to Dogecoin by mysterious creators known as Ryoshi.
- June 2021: Shiba Inu takes off. After many months without making any big moves, Shiba Inu increases in value when Ryoshi transfers half of the capitalization to Buterin, while the other half is locked into Uniswap, a decentralized exchange. The price is then around $0.000009.
- October 2021: Highest price ever. Following the excitement over Dogecoin and Elon Musk’s interventions on its behalf, Shiba Inu grows exponentially and reaches its highest price at $0.000065.
- June 2022: Shiba Inu reaches a low point. All crypto currencies are going through a period of crisis and Shiba Inu is no exception. Its low price is now $0.000010.
- August 2022: Shiba Inu stabilizes. The crypto picks up again at the beginning of the summer of 2022 and begins a slow rise, gradually stabilizing around $0.000012.
Shiba Inu in September 2022: Burn, Shiba Eternity and price predictions
SHIBA Inu investors will be wondering what the future holds for the crypto. The year 2022 is characterized by a stagnation in the value of Shiba Inu, which eventually declined with the downward trend of the market.
Like most other cryptos, Shiba Inu fell sharply from August 15, between a high of $0.00001794 and lows on $0.00001247 at the end of last month. But since the beginning of September, SHIB has been posting slight gains, which leaves the door open for a further rally in the coming weeks. This is because Shiba Inu recently launched a fierce chip burn campaign, which has created a lot of excitement among the SHIB army.
As of September 22, a total of over 410 trillion SHIBs have been burned on the initial offering, which represents over 41% of the total maximum offering to date. In the last 24 hours, as of the time of this article’s layout and according to Shib Burn data, a total of 11.7 million SHIB tokens have been burned through three transactions.
Shiba eternity is finally ready
Another key factor to consider in order to properly predict the evolution of the Shiba Inu cryptocurrency in September and beyond concerns the Metaverse that the Shiba Inu community is preparing.
Indeed it has finally arrived, the Shiba Inu game announced last year is now available. Shiba Eternity, the blockchain game, will be available on Android and iOS starting October 1, 2022.
Ahead of the event known as Download-Day, the developers around Shytoshi Kusama gave some details about the game’s features.
The trading card game is expected to contain over 500 Shiboshi cards, which in turn can possess thousands of different properties.
Although the game is not designed as a pay-to-win, there will be many opportunities for the community to invest real money. In addition to card skins, card packs, XP boosts and in-game currency will be available for purchase. The promise to the community, however, is that there is a lot of fun to be had even with the base game.
A good sign for $ SHIB? For now, the markets don’t seem to be reacting, especially because there is no direct effect on the crypto. But what are the price predictions for Shiba Inu for this year?
Shiba Inu price predictions
According to the experts at cryptoprediction, the following are the predictions for this year 2022
Shiba Inu Price Prediction for September 2022
Shiba Inu started September 2022 at $0.000012090655014 and we predict it will end the month at $0.000012084143031. During September, SHIB’s predicted maximum price is $0.000018925021131 and the predicted minimum price is $0.000012869014369.
Shiba Inu price prediction for October 2022
According to our predictions, Shiba Inu should start October 2022 at $0.000012947846196 and end the month at $0.000017741905021. During October, SHIB’s predicted maximum price is $0.000018852426029 and its predicted minimum price is $0.000012819649699.
Shiba Inu price prediction for November 2022
According to our predictions, Shiba Inu should start November 2022 at $0.00001720964787 and end the month at $0.00001484674552. During November, SHIB’s predicted high price is $0.000018738483513 and the predicted low price is $0.000012742168789.