Shiba Inu coin — the meme-based cryptocurrency that has been billed as a “Dogecoin killer” — has not gone away yet, despite a recent dip in cryptocurrencies. But will Shib coin ever reach the $1 mark?
What issues does SHIB coin face?
Shiba Inu coin has had a run of luck recently, holding off a huge dip that other cryptocurrencies have seen, according to FX Street.
- But the cryptocurrency still faces some obstacles. For example, Shib coin has not gained much attention on social media or from speculators, according to FX Street. If the coin starts to drop, it may even lose more support since cryptocurrencies like Shib and Dogecoin rely on social media hype for investment.
- David Hsiao, CEO of crypto magazine Block Journal, told The Inverse that Shib coin only rises because of the community. So investors should keep that in mind before investing.
The other major issue with Shib coin right now is that it’s not as easy to buy as Dogecoin, which is available on Robinhood, Coinbase Pro and more. There is a campaign to get Shiba Inu coin on Robinhood, but that seems to be a grassroots effort more than anything, as I wrote for the Deseret News.
Where will Shiba Inu coin be in 2025?
Shib coin is selling for about $0.0000085 per coin with a market value of $3.4 billion, so there’s still plenty of time to grow.
- Per Market Realist, the current predictions suggest Shib coin will reach a value of $0.000019 per coin in 2022 and later hit $0.000061 per coin in 2025.
- That would be a near 620% increase from where the coin is at now, which might sound like a good opportunity to invest.
Will Shiba Inu coin hit $1?
Market Realist laid out the plan for how Shib coin could reach the $1 benchmark, which has been a goal for Dogecoin supporters.
Shib coin would need to climb 12,000,000% to hit $1. Since January, the coin has jumped about 2,000,000% every month. So, it could — in theory — hit $1 by the end of 2021 if it keeps up that growth, according to Market Realist.
- “If Shiba maintains that level of growth, it could reach $1 in 2021. However, if it grows at the rate of 20% per month, it would require five years to hit $1 the milestone, which points to 2025 at the earliest,” Market Realist reports.
This news is originally posted here