The short and long term predictions for Shiba Inu
The short and long term predictions for Shiba Inu

The short and long term predictions for Shiba Inu

By Andrea Porcelli - 26 Jan 2023

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In this article, we will provide short- and long-term predictions for one of the most highly capitalized cryptocurrencies: Shiba Inu. 

Almost everyone in the industry is familiar with the cryptocurrency named after the famous Japanese dog breed. 

In fact, its logo features this very same dog, the symbol of a famous web meme, unsurprisingly belonging to the “memecoin” subgroup of cryptocurrencies. 

Shiba Inu’s crypto was born as a joke, created as a parody of Dogecoin. It presents a decentralized structure, and in a short time manages to gain the trust of much of the market. 

Today, the Shiba Inu ecosystem is a huge community, rich in resources and protocols, providing space for a continuous experience. The platform’s native token is SHIB and is used to power every application in the ecosystem. In addition, one of the other uses of the Shiba Inu currency is for payment of transaction fees on the DEX. 

The DEX is another strength of Shiba Inu, the decentralized exchange allows Shiba Inu tokens to be exchanged, directly with each other. The DEX is powered by a 0x protocol and users never lose control of their tokens. 

The project started as a joke, it appeared to be transient, instead over the years it has been a bringer of gains for many. Its initial volatility allowed many to invest in it and now the rewards are being reaped. 

The project and the token, both have absurd growth potential. Up next is the market analysis based on charts and expert reflections. 

The analysis for the Shiba Inu price prediction

Shiba Inu is a decentralized cryptocurrency. It currently presents a very strong design that is easy to use and accessible to everyone. 

The Shiba Inu team is the bearer of the idea that the world of blockchain and crypto needs to be simpler to facilitate access for everyone. 

The same team made sure that the project’s native token was stable, secure and easy to use. 

Today, Shiba Inu features an experienced team with a stable and secure currency in a simple and clear ecosystem. 

Thus, a long-term investor might consider Shiba Inu, given the characteristics and its growth potential, which is really important. 

Market capitalization being one of the highest in the industry, Shiba Inu comes to the investor with a very high investment background. In fact, according to CoinGecko data, the coin boasts $6 billion in capitalization. Already in its early days, the Japanese dog token had seen a significant increase in its prices. 

The token, and with it the project, began to gain strength early on, growing exponentially. Shiba Inu is preparing for a calmer 2023 than the previous year. 

This token is one of the most likely players in 2023, and the forecast is bullish in both the short and long term. 

What should we expect from the future of Shiba Inu?

According to CoinMarketCap Shiba Inu is trading today at a price of about $0.0000117.

Since the start of January, it already seems to be recovering from 2022, a year of stalemate and even loss for many cryptocurrencies, including Shiba Inu. 

Market analysts, who use charts and other tools for cryptocurrency price analysis, predict a very rich future for the memecoin. 

Shiba Inu’s most significant rise in 2023 will be in the second half of 2023. The predictions see the token growing at a modest rate, reaching $0.000019. Like for many others, the growth will be gradual and will not see exaggerated declines. 

In 2024, when the bearish trend is expected to finally reverse, analysts predict an increase of almost double for Shiba Inu. In fact, the token has the potential to rise in 2024 in price by about $0.000034. With an average trading price between $0.000025 and $0.000028.

Analyses of the following years, see exponential growth of the dog token. The memecoin has tremendous growth potential, and is recommended by many industry experts. 

The future of Shiba Inu seems to be really bright; many think it is the replacement for Bitcoin. If it continues with this positive trend, it could very well lead to all kinds of things.  

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