Shiba Inu Price Prediction 2023 - 2030
Shiba Inu, the renowned “Dogecoin killer”, saw gains of 45,000,000% in the last bull market. So as we move into the next bull market, the question is will the Shiba Inu stock price explode again, or are new Dogecoin killers in town?
This article will give an insight into the Shiba Inu price prediction for 2023 all the way to 2030. So keep reading to the end as we discuss a new meme coin that could have even higher potential.
Shiba Inu Price Prediction for 2023 to 2030
- End of 2023 - A bounce from its current support will cause SHIB to invalidate the bear trend by hitting $0.0000303073.
- End of 2024 - The Bitcoin halving and Shibarium development will push the price toward its all-time high of $0.00008845.
- End of 2025 - The enhancement of the Shiba Inu ecosystem will lead to new all-time highs of $0.0000270876.
- End of 2030 - The token’s new utility will increase demand will increase, causing a price of around $0.00013.
Shiba Inu Price History
A clear picture of how the Shiba Inu crypto price moved in the past will help determine its key influences and future potential. That said, here is a summary of the price history from its inception until today.
The exciting thing about Shiba Inu is that it is a relatively new and massively volatile coin, resulting in explosive surges and rapid devaluations.
SHIB Rising From the Ground Up
On 2 August 2020, one SHIB cost 0.000000001009, and in the grand scheme of things, the price remained flat until May 2021. There were minor price increases before then, but they were insignificant compared to May’s run.
Binance Lists SHIB
The May price surge was due to Binance listing SHIB on its platform, with the coin gaining 114% in 24 hours, but even this was not enough to catch the eye of the media.
Shiba Inu received some attention from high-profile figures and media outlets, as all eyes remained on Dogecoin at this time.
The lack of hype around this time meant the surge from the Binance listing was short-lived, with the price falling 77% in 14 days. However, community-driven marketing efforts, donations, and increasing token utility meant the future was bright for SHIB.
ShibaSwap Goes Live
In July 2021, Shiba Inu launched its own DEX, ShibaSwap, which processed over $10 million of daily transactions shortly after its release. The SHIB coin played a fundamental role in the DEX, and while this did not immediately boost the coin’s price, it helped further the price later on.
The “Coinbase Effect” at Play and SHIB Overtakes DOGE
After a flat three months, Coinbase listed Shiba Inu on its platform. But the coin still could not break its $0.0000102868 resistance level. Nonetheless, the SHIB price exploded the next month, reaching all-time highs, peaking at $0.00008845, and putting the market cap at $40 billion.
The crypto had been adding extra utility, such as NFT and NOWPayments integration for e-commerce payments. However, this market cap was likely still an overvaluation.
While the market cap is a testament to the strength of the Shiba Inu community, also known as the Shib Army, the average trading volume on ShibaSwap was around only 20 million. This suggests the price action was down to speculation and not due to its utility or ecosystem strength.
In comparison, Uniswap V3 is currently averaging around $700 million in trading volume with a market cap of $4.8 billion.
Many Shiba Inu investors value community over utility. But what does this mean looking ahead? Will investors continue gravitating to a community-focused project, or will harsher economic conditions drive them elsewhere?
Following the all-time high, the SHIB price has gradually declined. The current Shiba Inu price sits around a critical support level of $0.00001063, an 87.98% decrease from its peak.
Below is a summary of the key events of the Shiba Inu price history so far.
- Shiba Inu launched in August 2020, with the price remaining flat until May 2021.
- SHIB’s Price surged 114% in 24 hours following the Binance listing in May 2021.
- The price quickly fell from its ATHs after the Binance listing.
- ShibaSwap went live in July 2021, but the price remained unaffected.
- Following the Coinbase listing and NOWPayments integration, SHIB reached ATHs.
- The SHIB price gradually decreased until it found its support.
Shiba Inu Price Prediction 2023
An accurate Shiba Inu forecast combines technical analysis from the price chart, macroeconomic considerations, and the coin's intrinsic value.
When looking at the Shiba Inu price today, it is holding a support level on the June - September resistance. As you can see on the Shiba Inu price chart below, SHIB has dropped support below twice, but bulls were able to push back above the level, invalidating the breakout.
Much consolidating around this level tells us bears do not have the momentum to go below, potentially setting the coin up for a significant reversal.
With that in mind, let’s look at what is happening in the broader market.
Recently, fractional reserve banks, including Silicon Valley Bank and Credit Suisse, have begun experiencing severe financial difficulties. The only thing preventing them from collapsing is government intervention. The issue with propping these banks up is that it causes increasing inflation, but inflation often leads people to look for stores of value.
Crypto is one of the most advantageous stores of value of the last decade, massively outpacing inflation. That said, Bitcoin can expect to attract a lot of new liquidity in the coming months, which will then find its way to altcoins like SHIB.
Additionally, Shiba Inu's social contributions online have increased rapidly, and the devs show no signs of slowing down. The next stage of the Shiba Inu ecosystem is the Shibarium, the Ethereum layer two scaling solution allowing users to make transactions for lower gas fees.
Therefore, we expect to see SHIB finally break out of its 17-month downtrend by the end of 2023. SHIB will break its local resistance of $0.0000190934 before invalidating the bear trend (target 2) by moving past $0.0000303073.
We expect the bear trend invalidation by the end of 2023 because the Bitcoin halving will occur the following year. Therefore, many investors anticipate profits after the halving, so they will enter the markets early.
Shiba Inu Price Forecast 2024
The two most important factors of the SHIB price in 2024 are the Bitcoin halving and the development of the Shiba Inu ecosystem. The Bitcoin halving will create a supply shock, boosting its price, with the liquidity then trickling down to other coins like Shiba Inu.
Also, Shibarium could massively boost demand for SHIB in 2024. The Ethereum chain is known for becoming congested during bull markets; therefore, many crypto users will want to adopt a new layer 2. With that said, the size of the Shiba Inu community means Shibarium could fill that void.
Despite the Shiba Inu ecosystem not experiencing massive demand so far, its usage will increase much more during the bull market. That said, we expect SHIB to break its all-time high by the end of 2024 and possibly go further, depending on the success of Shiberium and ShibaSwap.
Ultimately, the 2024 outcome for SHIB is to move towards its all-time high of $0.00008845, but it is still being determined whether it will be able to break that level.
Shiba Inu Price Long-Term Outlook - 2025 - 2030 Prediction
The most practical assessment for the long-term success of any asset is understanding how it benefits from the network effect. In other words, does the value of one user increase as the asset gains more users?
The answer is yes when the asset has a competitive edge against competitors or something stopping users from switching. Therefore, to understand SHIBs long-term potential, we must compare it to its main competitor, Dogecoin.
Dogecoin has the backing of Elon Musk and has more brand recognition in the crypto community.
Nonetheless, Shiba Inu has managed to compete with DOGE, despite having less backing from influential figures in the space. This is a testament to the efficiency of the Shiba Inu developers and community.
While Dogecoin grew based only on “virality”, the Shiba Inu developers have added a new utility that differentiates itself from Dogecoin, thus creating more value.
The issue is that much of SHIB's price has been down to speculation. As explained before, with the ShibaSwap trading volume figures, the Shiba Inu ecosystem is currently in low demand. If a better, higher-utility meme coin was to emerge, it could capture much of the Shiba Inu community.
Nonetheless, Shiba Inu has continued innovating, and holders can use it to buy goods and services from hundreds of merchants worldwide, amongst other things.
By the end of 2025, we expect a new all-time high for Shiba Inu, but not quite as high as if its ecosystem was in high demand and provided something no other meme coin could replicate. Therefore, we expect a 30% increase in price to $0.0000270876 by the end of 2024.
Looking further ahead to 2030, the price of SHIB will be dictated by the success of its team in creating more utility for the token. While the coin has the backing of the community, for it to continue growing until 2030, it will need to create more value for holders.
One of the ways the coin aims to do this is by becoming a payment channel for digital and real-world goods and services. But even if merchants and vendors accept SHIB, holders would need a reason to spend SHIB vs another token.
This is where the SHIB ecosystem will come into play. If Shibarium, ShibaSwap or other Shiba Inu developments experience mass adoption, SHIB will become a convenient token to hold and spend, boosting its demand and price over time.
But the issue Shiba Inu currently faces is that its community is not adopting its products; the SHIB price reflects more the SHIB Army than the long-term potential of the coin. But to succeed long-term, the coin needs to provide real value.
While long-term price predictions are complex, a rise of 50% from its all-time high to $0.00013 is likely by the end of 2030.
What Influences the Price of Shiba Inu?
When forecasting the future Shiba Inu crypto price, it is essential to consider all the influences that can affect its price. We have listed the most important ones below.
Supply
One of Shiba Inu’s significant advantages over DOGE is its tokenomics. While SHIB has a max supply of 1 quadrillion coins, DOGE is an inflationary token without a max supply. This could hold the price of DOGE down in the long run.
Moreover, Shiba Inu has a burn mechanism where holders can burn their tokens and earn rewards. Over 410 trillion tokens have been burned, accounting for over 40% of the max SHIB supply.
As the burning of the Shiba Inu coin continues, its supply will decrease, which will boost its price.
Whether It Can Differentiate Itself
To achieve long-term success, Shiba Inu must be able to differentiate itself from other meme coins. While it has a strong community, it requires a “moat” preventing the community from switching projects when a newer meme coin comes along.
The only way it can do this is by developing products that are actually used by the community.
Community and Public Figures
Another key factor that affects the price is the community. The Shiba Community has been one of the strongest since the coin's launch, and if this can continue, the price will experience more explosive runs.
Public figures like Elon Musk can also play a massive role in the price of meme coins, so Shiba Inu’s price would surge if it could attract more high-profile individuals.
Broader Market Influences
Markets move cyclically, and most assets move at the same time. This means SHIB will usually move when other crypto assets are moving too. Therefore, when investing in Shiba Inu or any other coin, it is best to consider the broader market.
Could Love Hate Inu be the Next Shiba Inu?
One of the things we love about Shiba Inu is that its team is constantly innovating and providing more utility to holders. The issue is that the holders are not excited about blockchain technology and are primarily interested in the Shiba Inu price.
Considering this, the next Shiba Inu could be Love Hate Inu.
Love Hate Inu is a Vote-to-Earn meme coin currently in its stage two presale. The coin has already raised over $1.4 million and amassed huge hype and media awareness in 15 days. Many crypto experts are excited because the coin rewards the community and incentivises them to participate in the project.
We have seen the likes of Shiba Inu struggle to increase participation in the ecosystem, but Love Hate Inu’s approach helps solve the issue.
The basis of the Love Hate Inu project is that the community can create polls that others can vote on. These polls will mainly focus on the project's direction at first. Still, there is a wide range of real-world use cases the project is suitable for when considering its long-term potential.
Similarly to Shiba Inu, Love Hate Inu has utility built into the project, but the difference is that it is more focused on rewarding and incentivising its community to participate. This creates positive feedback loops, with LHINU holders using and benefiting from the protocol, causing the Love Hate Inu to develop further.
The coin solves Shiba Inu's main difficulty in attracting the community to use the ecosystem; therefore, we think Love Hate Inu has more long-term potential.
Moreover, as the LHINU coin is still in its early stage presale, investors can purchase it at a discounted price of $0.00009 USDT. Following its IEO, the coin will be priced at $0.00045, resulting in a 50% increase in value from its current price and a profitable opportunity for early adopters.
Conclusion
Shiba Inu can expect to reclaim all-time highs by the end of 2024. But its long-term growth is limited by whether the community adopts the ecosystem or continues focusing only on the SHIB price.
On the other hand, Love Hate Inu rewards its community for participating in the project, potentially leading to much more sustainable and steady growth. With this in mind, Love Hate Inu stands to be the next Shiba Inu and could explode in price following its IEO. Follow the link to get in at the ground floor of this exciting new V2E meme coin project.
