The strangely named crypto token – the Shiba Inu coin (SHIB), was introduced as a rival to Dogecoin. Ever since its debut in the market, it has been a low-priced coin with a huge number of tokens circulating among traders. Everyone is quite excited about Shiba Inu coin price prediction 2050. But why? Let’s find out!
How Did It All Start?
Starting as a joke, the Shiba Inu coin is now a highly speculated cryptocurrency worldwide and the madness isn’t over yet. It all started as an anonymous creation by a mysterious person named Ryoshi in 2022 and was designed to work on the Ethereum blockchain. It is an alternate version of the ERC-20 token.
Why was it created? SHIB is the goodness of Ethereum, Dogecoin and Bitcoin combined into one token. This coin can be used as a completely decentralised token on exchanges and does not require permission for identity and other proofs to make transactions. Furthermore, Shiba Inu can be used to exchange stable coins such as Bitcoin and Ethereum on the exchanges. Read more cryptocurrency News,
How Did It Catch The Limelight?
Below are listed all the possible reasons why Shiba Inu became a sensation in the crypto world:
- Shiba Inu is a meme coin which gained popularity due to the famous meme dog being its mascot animal.
- It is a low-priced NFT built upon the Ethereum network.
- It was created as a community-building token as an experiment to rival the Dogecoin ecosystem.
- Owing to its association with the meme dog, this coin quickly gained popularity among young investors, shortly after Elon Musk tweeted.
- Vitalik Buterin burned down one-third of the current token supply circulating in the market after which the price surged a bit.
- On October 28, 2021, SHIB reached its ATH of $0.00007956 and raised the expectations of the Shiba community and its supporters, ever since.
Shiba Inu Price Prediction 2050
Shiba Inu price prediction 2050 looks to be as good as a fantasy. It is predicted to reach around the $5 mark by the year 2050.
There are a few factors behind this prediction. Looking at the bright side, if I keep aside the highly competitive digital asset market, the ShibaSwap has come up with its new feature “Dig and Burn” in its exchange platform to facilitate SHIB trading.
This feature allows users to stake and burn SHIB tokens in order to help increase its market value. But till now, nothing seemed to work against the bearish market trends.
The year 2050 is going to be the most profitable year for crypto adaptation throughout the world. Many governments would likely accept cryptocurrencies as an important part of their national finance and therefore, the market prices will see a breakthrough.
Similarly, Shiba Inu coin price prediction 2050 shows some encouraging numbers in the bullish market trends to occur in 2050. The maximum price can rise as high as $7 and the lowest is $2.5. As compared to the current price of the token, anything above the $1 mark seems quite profitable and encouraging to modern investors.
As for the burning mechanism, the market circulation is so big that a huge amount of burn is needed just to push back at least 20% of the ATH. The Shiba Inu bull trends have seen a plummeting value in the current bearish market of 2022.
Investors are losing patience while holding on to the SHIB token as the losses have been piling up since the fourth quarter of 2021.
If the market sustains through this tough time, the Shiba Inu coin can show marvellous performance in the upcoming years. Based on the above predictions, it would be a wise decision to hold your Shiba till the year 2050 for the best results. So, hold on to your Shiba and look at the bigger picture!