Recently we wrote an article The Epic Crash Of The Crypto Market And The Rise Of Shiba Inu where we made shiba inu coin price predictions and now it is becoming true.The Shiba Inu token has seen a lot of growth in its price value over the past few days. The token’s increase in price is a welcome development for SHIB holders as it offers increases to the value of their investments. Despite its continuous growth, many crypto enthusiasts still express concerns over the potential of the SHIB token in the long term. Most of these concerns are based on the idea that the SHIB token is a meme coin with no actual use case.This article will provide insights into the possible growth of Shiba Inu in the long term. Additionally, we will look at recent events that are pushing the value of the SHIB token; these include facts and figures that support the growth of the token.
Reasons For Shiba Inu’s Recent Growth
A combination of factors has been responsible for the growth of the SHIBA token in recent weeks. The tokens pump began on September 30, after an anonymous crypto investor bought up 6.3 trillion SHIBA coins. This action saw a slight increase in the value of the token. However, the token further jumped in value after the tech mogul Elon Musk tweeted an image of his pet Shiba Inu pup ‘Floki Frunkpuppy’.Musk’s previous tweet about his Shiba Inu dog Floki Frunkpuppy caused upward price movements for some SHIB themed coins. The major beneficiary being the Floki Inu. Shiba Inu also saw a minor price increase after the tweet.Floki Inu had a negligible price value before Musk tweeted on September 15, but it increased by over 1000% after Musk tweeted. Similarly, Shiba Inu saw an upward movement in price after Musk’s September 15 tweet.
Shortly before the tweet, the shiba inu coin price was $0.0000065. However, after the tweet, the token experienced a huge pump in price and reached a new high of $0.0000095 by September 17.Like his September 15 tweet, Elon’s October 4 tweet had a ripple effect on the crypto market, especially for SHIBA-themed crypto projects. Upon posting the tweet on October 4, the Shiba Inu token rose from $0.00000823 to a new all-time high of $0.00003502.This positive move in price was massive for SHIB holders since it signified a 3000% increase in price from the token’s all-time low last year. Market capitalization also increased due to the increase in its price. At its peak, the Shiba Inu market cap was worth over $10 billion, resulting in the meme coin’s move into the top twenty cryptocurrencies in the world. Data from Coinmarketcap shows that the token is currently on 1,184,789 watchlists. These data indicate that Shiba Inu was one of the most traded digital assets in the past week.
Long Term Outlook for The Shiba Inu Project
Many crypto enthusiasts have expressed concerns over the long-term growth of the Shiba Inu project. Generally, these concerns are based on the token’s status as a meme coin with no actual use case. However, we must state that such notions or beliefs are very wrong. Shiba Inu has several use cases, and the project has massive potential for growth in the long term.
Shiba Inu Use Case
In a series of moves to shed off its shitcoin status, the Shiba Inu devs team has worked on several projects to provide value to members of its community. These projects include a Shiba Inu DEX platform and the Shibaswap feature on the dex platform and website.Additionally, the Shiba Inu team has worked extensively to incorporate the token into several retail outlets for payment purposes. These moves have increased the popularity of the token and have resulted in its listing on several popular crypto exchanges. However, we will touch on this point later in this article.
ShibaSwap DEX
ShibaSwap DEX is a decentralized exchange that provides investors access to many dog-related tokens and meme coins. The dex platform also features a swap page for users looking to swap one digital asset for another. The ShibSwap decentralized exchange is compatible with Wallet Connect, Meta Mask, and the Coinbase wallet.The ShibaSwap DEX is fueled by the Shib token and the Leash token. The dev team at Shiba Inu hopes to increase the number of tokens available on their dex platform in the long term. Currently, they are working on incorporating Non-fungible tokens on the DEX platform.
Shiba Inu As a Payment Option
As previously stated, Shiba Inu is collaborating extensively with retailers to integrate the token into their outlets. The token is now available as a payment option on top shopping platform Shopping.io. This move means that users can pay for goods on Shopping.io with the Shiba Inu. Alternative Airlines also accepts the token as a payment option. Additionally, Alternative Airlines accepts several other cryptocurrency payments.
Shiba Inu On Top Exchanges
Due to Shiba Inu’s popularity and growth, it has been listed on numerous top crypto exchanges. Currently, the token is listed on exchanges like Binance, Coinbase, Huobi Global, FTX, Uniswap, Crypto.com, OKEX, to name a few. Due to Shiba Inu’s listed status on these platforms, this token is more attractive to potential buyers, as they can access it at any time through these platforms.
Will shiba inu coin price Reach $0.0001 Within 2021?
The market cap of the SHIBA INU Coin today ( at the time of writing this article) is $12,234,835,535 and shiba inu coin price is $0.00003106 which means that if the SHIBA INU Coin has to eat one more zero the market cap should be at least $40,234,835,535 that can result into the illusive price of $0.00010191. And that means till December of 2021 the market cap of SHIBA INU coin will be 5 folds to where it is now.We maintain a strong belief that shiba inu coin price will increase significantly in the short and long term. The project has several good use cases and a strong community of followers who believe in the project and actively support it; this factor bodes well for the continued growth of the token.Adding an NFT marketplace feature on the ShibaSwap DEX platform should create additional buzz and excitement for this project and several other attached crypto projects. Additionally, we expect to see more positive news from top crypto influencers like Elon Musk. Any major positive news can be a catalyst to significantly driving the value of this project up in the short and long term.We also expect to see the start of another bull run in the crypto markets. During bull runs in the crypto markets, most community coins always increase in value, and we expect Shiba Inu to follow that trend too. However, we encourage readers to check to research before investing in this crypto token or any other crypto project. We will continue to provide updates in the future regarding the Shiba Inu project.
