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Shiba Inu Coin Price Aud
Introduction: Shiba Inu Coin Price is a decentralized cryptocurrency that is created in 2020 by the anonymous person under the pseudonym Ryoshi. The SHIB token are an Ethereum-based ERC-20 token that is created to directly to compete with Dogecoin. This token is not supported by the smart contracts or backed by any assets, but can be transferred from one user to another.
The SHIB is one of many dog-themed cryptocurrencies. Now unlike dogecoin, SHIB is building an entire ecosystem around is called Shib Swap. For now, Shiba Inu Coin Price Aud Shib Swap consists of a two tokens: LEASH and BONE.
At first, LEASH was an elastic token. But the developers recently removed these features to increase its potential. It currently has a total supply of 107,646 tokens and offers various incentives and rewards on Shiba Swap.
BONE is a government token that allows the #ShibaArmy to vote on upcoming proposals for Doggy DAO, their latest project, and has a total supply of 250,000.
The SHIB token was born from the idea of being the another “meme” token, but over time it has grown into an ecosystem support by the growing community.
The #ShibArmy is made up on talented people, Whom the Shiba Inu supports by cultivating an environment that encourages activity and growth. Shiba Inu Coin Price Aud The Siba Inu Incubator was created to help owners find tools to bring their works of art of life.
Shiba Inu Price Prediction AUD 2022
SHIB is up 55,734,556% this time, but then again after taking a beating this month, is nowadays really the best time to buy? This is how high (or low) it could end up in the future, according to experts.
- The Shiba Inu (SHIB) meme coin has plunged more than 73% from its October 2021 all-time high.
- SHIB belongs to a debated class of crypto possessions called “memecoins” (also known as sh*tcoins) whose price fluctuates wildly in response to news, hype and Elon Musk’s tweets.
- Due to purely speculative movements in the value of SHIB, analysts and experts are pessimistic about the long-term price prediction of SHIB.
As of Tuesday, March 8, SHIB is trading at USD 0.00002226 ( AUD 0.00002999). SHIB is down 73.2% since its all-time tall of $0.00008616 USD ($0.00011478 AUD) on Oct. 28, 2021. With a market capitalization of $12.1 billion USD ($16.3 billion AUD), SHIB is ranked as the 15th largest cryptocurrency at the time of script. .
SHIB and similar meme changes like DOGE & FLOKI have confirmed to be major head scratchers for traditional stockholders. It’s easy to mock meme coins for being more of a game than an investment, Shiba Inu Coin Price Aud but after the meteoric rise of SHIB, thousands of meme coin investors were laughing their way to the bank.
What is Shiba Inu?
SHIB was launched by an nameless founder, who goes by the pseudonym Ryoshi in August 2020. SHIB initially gained popularity after the first cryptomeme: Dogecoin (DOGE) went viral in January this year. DOGE was created as a joke in 2013, but after members of the cryptocurrency subreddit r/SatoshiStreetBets began “pumping” the coin and witnessed epic profits, the meme coin market exploded.
SHIB was positioned as the next big thing and quickly became the cryptocurrency of choice for those who felt they had missed out on the exponential growth of DOGE. Needing a bold plan to stand out from the new wave of meme tokens, SHIB developers caught the attention of the crypto world after deciding to “give away” 50% of the total SHIB supply to Ethereum founder Vitalik Buterin. beginnings of May. . For a short time, rumors that Vitalik chose to own SHIB of his own free will spread like wildfire on social media and the price skyrocketed in answer.
Dashing the hopes of speculators, Buterin given 50 billion SHIB (worth $6.7 billion USD ($9.4 billion Australian dollars) at the time) to a COVID relief fund in India and “burned” the rest of his SHIB holdings, causing the price to drop. However, these events covered SHIB in international headlines, and with the total circulating supply of SHIB down by nearly 50%, the meme coin was poised for future growth.
It wasn’t until October 4, once Elon Musk tweeted the next image of his new Shiba Inu pup. That the token once again started to skyrocket.
SHIB holders went wild and rumors that Elon Musk owned the coin quickly spread across Twitter. The price detonated from $0.00000856 USD ($0.00001177 AUD) to $0.00008616 USD ($0.00011478 AUD) on October 28, a staggering 9.965% gain in just over 3 weeks.
Does Shiba Inu Have Any Real Value?
Ultimately, SHIB has no real original value. It is a cryptocurrency that solitary grows in value due to wild speculation, hype, FOMO, and erratic tweets from Elon Musk. While approximately lucky investors have seen legendary returns from SHIB and other meme coins. The chances of making serious profits on SHIB futures are extremely low.
If investors are willing to bet on the possibility of Elon posting another picture of his pup. Or a positive rumor about SHIB going viral. Then there may be some ROI for them. But that’s not exactly a good investment strategy.
Even though Mark Cuban and Elon Musk are discussing the real-world applications of meme coins (and Elon Musk recently announced that Tesla will now accept DOGE as payment for merchandise), most experts remain skeptical about future growth. of SHIB.
Could Shiba Inu Makers End Up In Jail?
On Dec. 1, 2021, the infamous “Wolf of Wall St”, Jordan Belfort, publicly criticized meme coins like SHIB and DOGE. Rferring to them more colloquially as “shitcoins” and announcing that their creators must be jailed.
He told The Sun Connected: “I’m a fan of blockchain, but there’s a lot of garbage out there, a lot of shitty coins that serve no purpose and are just there to separate people from their money. You hear stories crazy people who make millions. and billions. But for every individual like that there are 10,000 or 100,000 people who get their asses handed to them in Shiba Inu…it’s not a proper investment.”
If Jordan Belfort, the man who spent 22 months in jail for defrauding investors to the tune of $200 million. Says that meme coins are dangerous for retail depositors. Investors would probably do healthy to heed that information.
With that said, here is what technical analysis can tell us about the future of SHIB.
Price Prediction Shiba Inu’s (SHIB) 2022
If we use technical analysis to forecast SHIB’s performance early this year, the overall outlook is mostly uncertain. SHIB trading volume remains low and although the RSI continues to fall (meaning SHIB is becoming increasingly undervalued). It seems unlikely that buyers will re-enter the market until sentiment changes.
FXStreet analysts are not too sure about SHIB’s current movements. According to analysts, the short-term outlook for SHIB is mixed; however, it seems more likely that there is more bad news to come. Unless SHIB sees a major change in price action, it will continue to drop. However, if SHIB can show signs of improvement. You may still be poised for a short-term 27% rally from its current price of $0.00003736 USD ($0.00005128 AUD).
(SHIB) Shiba Inu Price Prediction 2023
Due to the lack of any underlying value. It is almost impossible to make accurate long-term predictions on SHIB or any meme coin based on speculation.
Wallet Investor’s automated technical analysis is undeniably bullish. Forecasting that SHIB may hit $0.0000714 USD ($0.0000992 AUD) by the end of this year. A 148% gain by the middle of next year.
DigitalCoin’s automated analysis also shares the growth sentiment predicting the price could hit $0.0000502 USD ($0.0000698 AUD) next year. Gaining 75% of its current price.
It is worth noting that when using automated technical analysis services like Wallet Investor or DigitalCoin. The algorithms used to make predictions base all predictions on past performance data. Looking at meme coins in particular, past performance is no guarantee of future results.
(SHIB) Price Prediction Conclusions
- SHIB is an incredibly risky digital asset that has no underlying value. Its value is based almost entirely on speculation.
- While the price of SHIB may increase in the future with new developments in crypto. It is one of the riskiest options in the crypto market.
- Unless you are a technical trader, who understands technical analysis. How to read charts, and can accurately interpret short-term price signals. All investments in SHIB and other meme coins should be treated as gambling.
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