From the price rates charts, we can see that the Shiba Inu cryptocurrency, which is one of the most popular meme coins, is trying to recover. In the first half of June, SHIB fell to its 8-months-minimum of $0.000007 because of the crash in the crypto market. As of 21st July at 3:00, the token is valued at $0.000012. What does it mean for SHIB investors? Will the asset regain its strength in 2022? Let’s see the prospects of the coin for this year.
Introduction to SHIB
In 2020, the anonymous developers decided to join the crypto parody trend and launched one more meme coin — Shiba Inu. The project appeared to be quite sustainable and it quickly became the main competitor to the most known meme crypto of that time — Dogecoin. The new coin, with a starting supply of 1 quadrillion tokens, was launched on the Ethereum network.
In two years, this project evolved from a meme coin into the entire ecosystem, which now includes such tokens as LEASH and BONE. In this network, a new cryptocurrency exchange is also operated under the brand ShibaSwap.
Shiba Inu became widely discussed by the crypto community and general public several times. The publications of Elon Musk on Twitter did a great contribution to the growth of this project and the surge of its native token’s price. However, due to the recent crash in the market, we can’t say its performance in the last months was successful. Will it manage to recover this summer or at least by the end of this year? Here is what DotBig analysts think on this matter.
Will Shiba Inu Coin Price Increase in 2022?
As of the time of writing this review, SHIB is valued at $0.000012. Considering the events around this ecosystem, we dare predict that the holders have good chances to benefit from their SHIB investments if not this year, then, a bit later. Here are the factors on which our prediction is based:
- The developers are building out the Shiba Inu ecosystem, which makes the token a more sustainable investment. They have already launched the SHIB burn portal and started public sales of land in the SHIB Metaverse.
- The end of 2022 is supposed to be marked by the launch of the Shibarium layer-2 network. Currently, the developers are satisfied with the dynamics of its progress. Shibarium is expected to decrease gas fees, which will attract more users to it and will increase the demand for SHIB one more time.
- Wallet Investor, an algorithm-based website, predicts that at the end of this year the token will be valued at around $0.000014. According to the same website, in 3 years, the price will increase up to $0.000044.
If you are skeptical about algorithm-based forecasts on SHIB’s price, consider that the declining prediction by the algorithms of CoinCodex turned out to be true.
To sum it up, currently, the crypto analysts see the positive dynamics for the Shina Inu holders and investors. Considering the pace, with which this ecosystem is growing, we dare agree with this positive prediction. DotBig analysts think that, if all the current and upcoming projects will keep up to the mark, it’s quite possible that at the end of December, SHIB will be valued at a higher price.