The market capitalization of Shiba Inu has fallen by more than 87% since its all-time high in 2021. This prompts investors to ask the question, is it too late to Buy Shiba Inu coin?
Today, we offer insight into whether SHIB is still worth adding to a crypto portfolio. Our comprehensive analysis discusses the meme coin's performance, use cases, expert viewpoints, and more.
Is it Too Late to Buy Shiba Inu Coin? Our Summary
Among Shiba Inu's claims to prominence is that it produced one of the biggest annual gains ever seen for crypto investors. However, according to statistics from CoinMarketCap, the market valuation of SHIB has fallen by around 87% when compared to its 2021 peak.
As such, this raises the question, is Shiba Inu still worth investing in?
The value of this well-known meme cryptocurrency is currently less than $5.4 billion
As noted, this is a far cry from its all-time high in 2021
That said, most cryptocurrencies have since their valuation decline by rapid amounts in 2022 as per the bear market cycle
Not to mention the fact that one of the biggest cryptocurrency exchanges in the world, FTX, has since filed for bankruptcy - further impacting Shiba Inu and the broader market
Amid the feud, the global cryptocurrency market capitalization is down 11% in the last 24 hours of writing
Is it still a good time to buy Shiba Inu? Those with an appetite for risk might buy SHIB tokens whilst they're trading at a discount when compared to the start of the year. Read on, as we talk about the SHIB investment thesis in more detail.
Shiba Inu Price History
Shiba Inu was created in August 2020 and started trading at $0.000000001. SHIB tokens remained under the radar for several months. However, by mid-May 2021, SHIB tokens had increased by 3.4 million percent, largely thanks to a sharp interest in meme tokens like Dogecoin.
Nearing the end of the same month the market crashed and Shiba Inu fell by over 76%. However, by October 2021, Shiba Inu was on the rise again, along with many other altcoins.
In fact, some SHIB investors found themselves with gains exceeding 121 million percent by the end of October that year, based on its value at the start of 2021. Is Shiba Inu still going up? The simple answer is no. On the contrary, following its all-time high, Shiba Inu has continued to fall.
Here's a quick view list of some of Shiba Inu's highs and lows:
May 2021 - By the 11th of the month Shiba Inu carried a market capitalization of almost $13.7 billion
June 2021 - A month later SHIB's market cap had plummeted to $2.4 billion - this represents a decline of over 82%
October 2021 - By the end of the month, Shiba Inu reached a new all-time high market cap of $43.5 billion - an increase of over 1,700%
January 2022 - Shiba Inu had a market capitalization of $18.3 billion at the start of the year
November 2022 - By the first week in November, Shiba Inu had fallen to $5.3 billion
Time of writing - SHIB has lost almost 88% of its market capitalization compared with its all-time high
As per the above, Shiba Inu continues to witness extreme volatility.
How Has Shiba Inu Performed in 2022?
As we touched on, 2021 saw some meme coins rising substantially. In October, SHIB peaked when it reached its all-time highest market capitalization of $43.5 billion.
Investors asking, 'Should I still buy Shiba Inu?' will likely need further information with regard to the more recent performance of SHIB tokens.
The meme craze in recent years has, if anything, highlighted how the fear of missing out (FOMO) and online hype can affect the crypto markets. 2022 brought the crypto winter season, and as such many digital currencies plummeted.
By January 2022, Shiba Inu had a market capitalization of $18.3 billion, much lower than its all-time high. By mid-May 2022, Shiba Inu had fallen to $5.4 billion, and by June it was down to just $4.2 billion.
Things started to look up in early October 2022, at this point, the popular meme token had increased its market cap to around $7.5 billion. This all changed in November 2022.
In recent months, the value of cryptocurrencies has dramatically declined, and it appears that the bottom is now lower than anybody had anticipated
Anxious investors have been withdrawing their crypto holdings as a result of FTX filing for bankruptcy
The announcement shocked the market, causing cryptocurrencies to drop precipitously
It isn't just meme-coins either - leading cryptocurrencies Bitcoin and Ethereum have plummeted over the last 24 hours
ETH has lost almost 20% of its market capitalization over the past 24 hours, and BTC is down more than 10%
CoinMarketCap data suggests that Shiba Inu has faired a little better than the large-cap tokens
The market cap of Shiba Inu is down a little over 9% in 24 hours as of writing
FTX is not the first blockchain-centric company to succumb to the crypto winter. However, it's clear that its collapse has had a major impact on market sentiment as a whole.
Shiba Inu Price Prediction 2023-2030
Is it too late to buy Shiba Inu coin? We analyzed some Shiba Inu price predictions for the next 10 years. In turn, we concluded that experts have generated a number of price predictions that indicate it isn't too late to gain exposure to this project.
According to some, Shiba Inu might make a comeback in 2023 along with the rest of the sector. That said, all predictions should be taken with a pinch of salt.
Some analysis indicates that in 2023, SHIB's minimum and maximum trading price could be around $0.0000160584 and $0.0000193081 respectively. The maximum prediction indicates a potential increase of almost 97% based on the price at the time of writing.
The average price predictions for SHIB are summarized below:
2023 - $0.0000165383
2024 - $0.0000257174
2025 - $0.0000366463
2030 - $0.0002326967
If there is another significant surge, some economists predict that Shiba Inu will reach $0.01 in 2025. Again, investors still asking, 'Is it too Late to Buy Shiba Inu coin?' should take all crypto price predictions lightly and not use this as a deciding factor.
How Could Shiba Inu Coin be Used in the Future?
Aside from looking at price analysis, investors pondering 'Should I still buy Shiba Inu?', could also look at the use cases of the token.
Does Shiba Inu have any actual uses and how will this shape its future?
Shiba Inu seems to possess a solid technological foundation and a well-defined strategy
ShibaSwap, the project's DeFi platform, reached a total locked value of over $1 billion two days after its launch
As of writing, ShibaSwap boasts a 24-hour trading volume of over $13.7 million
Investors can lock in their SHIB tokens on the platform to receive BONE
BONE is the governance token of the Shiba Inu ecosystem
Investors who hold SHIB tokens can also claim staking rewards
Transaction costs are decreasing thanks to its Shibarium layer-2 solution
This increases the likelihood that SHIB could be used as a currency in the future
Shopping.io has partnered with Shiba Inu to allow customers to use SHIB as a payment option on Amazon, eBay, and Walmart
A well-known fraud-proof payment network, Flexa, has also partnered with Shiba Inu
Holders of SHIB tokens will be able to use their holdings at more than 41,000 locations in the US and Canada after it is integrated into the Flexa Network
Shiba Inu might be put to use in this way to promote quick transaction settlements. Hundreds of companies have joined the Shiba Inu ecosystem thus far. Additionally, as NFT gaming becomes more popular and the Shiba Inu's Metaverse gains traction, a lot more people are likely to become interested in buying SHIB.
According to Globaldata, by 2030, the metaverse market will increase at a compound annual growth rate of 39.8% and reach around $996 billion.
What Experts Say on Whether it’s Too Late to Buy Shiba Inu
To help answer the question on many investors' lips, 'Is it too late to Buy Shiba Inu coin? we've looked at what market experts are saying.
See below:
GoBanking Rates, for NASDAQ - Shiba Inu is only valuable as a short-term investment
Pocketbook Investor - A long-term increase is anticipated. A 5-year investment could potentially result in revenue growth of over 860%
GOV Capital - This platform says SHIB has experienced a significant bull run, offering tremendous long-term profit potential. By the end of 2022, the platform expects SHIB to reach $0.000056
Changelly - According to analysts, the price of Shiba Inu cryptocurrency will increase in the coming years. By the end of 2023, the price of a Shiba Inu token is predicted to increase to $0.00002271, which is significantly higher than the current value
Meanwhile, lead Shiba Inu developer Shytoshi Kusama has expressed optimism about the network's future.
Shiba Inu's layer-2 network (Shibarium) is progressing according to plan. According to the developer, when using Shiba Inu-based decentralized applications, users will be able to avoid costly gas prices on the Ethereum network.
Where to Buy Shiba Inu Coin
Is Shiba Inu still worth buying? Investors who think it might be are advised to purchase tokens via a regulated online brokerage. This has never been more important as per the recent FTX collapse.
See a review of the regulated trading platform eToro below - which is arguably the best place to buy SHIB tokens in safety.
eToro - Social Crypto Trading Platform
eToro has been providing its services globally since 2017 and has the approval of several regulatory bodies. This includes the SEC, FCA, ASIC, and CySEC. The platform offers a plethora of markets. In terms of crypto assets, this includes new coin listings, meme tokens like Shiba Inu and Dogecoin, and a range of other digital currencies.
The commission fee on cryptocurrencies is a low and transparent 1% on each buy and sell order. The eToro platform also offers access to equities and ETFs, forex pairs, commodities, and indices. Investors can also partake in buying and selling cryptocurrencies passively here.
This is possible thanks to the Smart Portfolios, around a dozen are focused on crypto assets. Investors can allocate $500 or more and copy an entire basket of crypto tokens over to their portfolio - many of which contain SHIB. The Smart Portfolio is managed using advanced software and will be periodically rebalanced.
It's also possible to copy a single trader with experience in the market. When an investor allocates $200 or more to Copy Trading at eToro, they quite literally mirror the positions of a pro. This saves hours of researching the markets, and investors are allowed to 'un-copy' as they see fit.
eToro offers a free paper trading account and a cell phone app, as well as charts, statistics, news, and analysis. The minimum investment for those who think Shiba Inu is still worth buying is just $10.
eToro accepts lots of payment types, covering credit/debit cards, e-wallets such as Skrill and PayPal, and also traditional banking methods like wire transfers.
Is it Too Late to Buy Shiba Inu Coin? Our Verdict
Is it too late to invest in Shiba Inu? There is no definitive answer for investors in such an unpredictable market. Shiba Inu's devoted following is among the top benefits of investing in it. That is to say, SHIB is being debated by social media influencers, meme creators, and chat forums throughout the world. This has undoubtedly contributed to the cryptocurrency's popularity.
Shiba Inu coin's price could rise significantly if these influencers and other well-known figures continue to promote it. Moreover, Shiba Inu uses a deflationary model, in contrast to Dogecoin. This model predicts that the value of SHIB will increase because when supply is less than demand, the coin's value will rise, which is a good indication of future pricing.
We found that most market analysts' price predictions are positive when it comes to Shiba Inu. This is probably helped by the fact the project has been making an effort to increase its real-world use cases. As we said, this includes staking, a metaverse, and P2E games.
Shiba Inu has also teamed up with Flexa and Shopping.io. As we mentioned, the latter allows SHIB holders to pay for goods from retailers such as Amazon.
At the time of writing, the market capitalization of Shiba Inu is trading much lower than its all-time high in 2021. As such, investors might choose to stockpile SHIB tokens before a potential comeback surge.
Cryptos to Consider Buying Alongside Shiba Inu
Investors who are perplexed by the question 'Is Shiba Inu still a good investment' could consider a diversification strategy.
That is to say, by investing in more than one crypto project, it's possible to balance out the risk associated with such a speculative asset.
With this in mind, here are some presale projects, both of which have the potential to be the next cryptocurrency to explode.
Dash 2 Trade - Up and Coming Crypto Analytics Platform
Dash 2 Trade is all set to be the Bloomberg of the crypto world, and best of all, its native currency D2T is on presale at the bargain price of $0.0513 per token. First a little about the platform itself. Dash 2 Trade is set to take investors' crypto endeavors to the next level.
The platform offers the best crypto signals that point D2T holders toward potentially profitable trades, including risk management. The terminal will also provide access to a range of technical indicators, and on-chain data strategies.
Once fully up and running, investors will be able to utilize the platform's bespoke social trading system and backtesting tool. This allows investors to maximize their results by taking their strategies for a test drive in conditions that mimic the real world.
Investors who subscribe to the tools and features on the Dash 2 Trade platform will also benefit from new crypto alerts and insight on presale launches. Regarding the D2T presale, this is in stage three and tokens are available to early investors for $0.0513. The next stage will see D2T progress to $0.0533 each.
Learn more about the project by reading the D2T whitepaper and joining the official Telegram group.
IMPT - Trade Carbon Credits on an Environmentally Responsible Blockchain
Is Shiba Inu still worth buying? Time will tell on that one, but as we said, investors shouldn't put all their eggs in one basket. IMPT mints carbon credits into NFTs on the blockchain, and its native currency of the same name is on presale.
The environmentally conscious ecosystem connects individuals and businesses of all sizes to socially responsible brands to reduce their footprint. IMPT has also partnered with a wide range of initiatives such as those concentrating on renewable energy sources, preventing deforestation, methane capture, carbon storage, and more.
Users can check the score and Co2 compensation of the project in question to decide on the most suitable. As we said, IMPT has its own currency. IMPT tokens can be used to purchase carbon credits. Users who shop with one of the brands partnered with IMPT will also receive crypto tokens, which can be swapped for credits.
Furthermore, all carbon credit NFTs can be traded, burned, or sold in the marketplace. When IMPT users decide to remove carbon credits from circulation by burning them, the platform sends them to a null address. The investor will receive a reward in the shape of a collectible NFT.
IMPT is on presale at $0.023 per token as of writing. As with all presale campaigns, this will go up in increments until tokens are listed and available to buy on an exchange. Interested investors can read the IMPT whitepaper and join the Telegram group for more details and updates.
Conclusion
We've answered the question on the minds of many meme coin investors - is it too late to buy Shiba Inu coin? The answer according to most analysts, although not a guarantee for gains, seems to be, no it's not too late.
The whole crypto market is down at this time. However, crypto tends to move in cycles and thus it's thought it will likely recover. Shiba Inu has a lot going for it - it's building a metaverse ecosystem and has partnered with the e-commerce platform Shopping.io to allow SHIB holders to pay in crypto.
Investors seeking to diversify might also consider Dash 2 Trade - whose D2T tokens are currently in presale.