The Shiba Inu cryptocurrency appeared relatively recently, but this did not prevent it still needed to take one of the leading places in the rating of the market capitalization of cryptocurrencies by the beginning of 2022.
Shiba Inu got its name from the breed of dog it inspired and the dog that Dogecoin uses as an image. Shiba Inu operates on the Ethereum network using the most widely used token design, known as ERC 20. It is protected by proof of work and is in the process of transitioning to proof of stake.
The main goal goes no further than to offer a highly accessible cryptocurrency in which users can store millions or even billions in the hope that the revaluation will bring them a generous profit.
What Does SHIB do?
At the moment, availability is nothing more than an assumption that the price will rise. However, unlike Dogecoin, this cryptocurrency offers more and is a decentralized exchange called ShibaSwap.
This exchange is still offline, but the developers assure you that it is in the process of being audited, so everything goes fine when the launch happens.
SHIB will be the primary token that will be included in this exchange, and will also act as an incentive mechanism.
There are also 2 more centers in the project. The first is a movement of artists offering to bring the project to the stage without exchange tokens (NFT). The second is a campaign in which Amazon Smile is used to raise funds and rescue real Shiba Inu dogs.
How Did Shiba INU Become So Successful?
The main trigger of the mega-increase in the price of the Shiba token was the fire that unleashed Dogecoin and helped other meme tokens to make incredible profits in a short time.
Although this is a simple speculative fire in which unscrupulous investors mostly float, it is also true that they act as a first step for many new cryptocurrencies that are likely to continue investing in other projects.
What Influences The Shiba Inu Exchange Rate?
First of all, the developers’ approach to the further development of the project has an impact on the cost. Also, a lot depends on the activity of community representatives taking part in the voting. The last but not least important factor is the influence of influencers and celebrities, for example, such as Elon Musk. There are a lot of doubts about whether it will reach some significant cost, like 10 dollars, for example, and according to Buidlbee, it is quite challenging but still possible.
The following factors can also affect the cost of Shiba Inu:
- the change in the bitcoin exchange rate;
- the mood of the cryptocurrency market;
- the expansion of the ecosystem;
- the release of updates;
- the introduction of tools that increase the speed of financial transactions;
- the consequences of the actions of state financial regulators.
The Forecast Of The SHIB USD Exchange Rate For The First Week Of 2023
On the week of January 9, Shiba Inu will trade in the range of 0.00000768-0.00000780 dollars. The week will start at $0.00000778 for 1 Shiba Inu. The value of the Shiba Inu exchange rate will reach 0.00000768 dollars by the end of the week, the change will be -1.36%.
SHIB USD Exchange Rate Forecast For The Second Week Of 2023
On the week of January 16, Shiba Inu will trade in the range of 0.00000698 – 0.00000781 dollars. The week will start at $0.00000773 for 1 Shiba Inu. The value of the Shiba Inu exchange rate will reach 0.00000698 dollars by the end of the week, the change will be -9.74%.
SHIB USD Exchange Rate Forecast In 2 Weeks
On the week of January 23, Shiba Inu will trade in the range of 0.00000641-0.00000685 dollars. The week will start at $0.00000685 for 1 Shiba Inu. The value of the Shiba Inu exchange rate will reach 0.00000641 dollars by the end of the week, the change will be -6.45%.
Shiba Inu Exchange Rate Forecast For 2023
The Shiba Inu exchange rate in 2023 will be in the range of 0.00000269-0.00001532 USD per 1 SHIB. The minimum value of 0.00000269 USD will be reached in September, and the maximum of 0.00001532 USD – in December 2023. The rate of Shiba Inu at the end of 2023 is 0.00001532 USD, the change will be 87.13% for the year.
At the moment, the value of the cryptocurrency leaves much to be desired, which is why some users treat the project with distrust. However, many serious investors are convinced that the price of a meme coin will definitely rise in the near future.