Meme coins influencing the cryptocurrency market for a while. When looking at the prospect of the market, meme coins are much influential. The price surge of Shiba Inu depends on news of a heavy adoption of cryptocurrency by a big name or a viral announcement by someone. In this blog, we are discussing Shiba Inu price prediction. The opinions used in the blog are not mandatory for trading purposes. It is advised to research on your behalf before investing.
Table of Content
- What is Shiba Inu?
- Shiba Inu Current Market Status
- Shiba Inu Price Analysis 2021
- Shiba Inu Price Prediction 2021
- How to Buy Shiba Inu in India?
What is Shiba Inu?
It is a decentralized cryptocurrency developed in August 2020 by an anonymous person or group known as "Ryoshi". It is named after a Japanese dog breed originating in the Chūbu region, the same breed that is depicted in Dogecoin's symbol. The exchange price of the cryptocurrency surged in October 2021, initially increasing by 55 per cent per the rumours of the launch of a decentralized exchange. The price continues to rise for a week returning the investment of 240 per cent.
Also Read: In 2021, Is Bitcoin Legal in India?
Current Market Status
Shiba Inu is one of the influential cryptocurrencies we have in the industry. With a market capitalization of $29,892,838,583, it is ranked #11 on coinmarketcap. The fully diluted market cap of Shiba Inu is $32,062,384,909, with a circulating supply of 549,095.51 billion Shiba. Shiba Inu have a market dominance of 1.03 per cent, creating an opportunity for generating if invest during ICO would be 3370415.4 per cent.
Also Read: Ethereum Price Prediction: Will Ethereum Hit $5000 in 2021?
Shiba Inu Price Analysis 2021
Based on the on-chain metrics, Shiba Inu price analysis tends to give a bearish signal for a long. With minus 1.1 per cent in the change in "In the Money" addresses momentum signal, the concentration of large holders has increased to 78 per cent. If we look at the current price and analyse that holder making money over the market price of $0.00005438, 74 per cent are IN, 10 per cent AT, and 16 per cent OUT. The net network growth has increased after the 30 per cent fall to 6.67 per cent. Larger transactions tend to be at 0 per cent, with a concentration going down beyond zero to minus 0.01 per cent. Seeing the details of the last seven days, larger transactions above $100K values totalling $13.19 billion. The transactions that occurred during Western trading were significantly higher with 52 per cent, whereas during Eastern trading time, it was 48 per cent.
Also Read: Cryptocurrency Regulations in India: What's New?
Shiba Inu Price Prediction 2021
The year 2020 brought good for the Shiba network. But the 2021 volatility seems to be dragging Shiba Inu to the other side of the chart. As per our Shiba Inu price prediction, its price may reach $0.0000121 by the end of December 2021.
Also Read: Are Cryptocurrency Profits Taxed in India? Here is All You Need to Know
How to Buy Shiba Inu in India?
Many crypto exchanges in India allow users to trade on Shiba Inu. But the most trusted platform to trade in cryptocurrency is Flitpay. It is an exchange that has been delivering what has been promised since the beginning. If you are new at Flitpay, sign up to get the FLT token for free and an option that let you earn while your friends or relatives trade.
FAQ
What is Shiba Inu?
It's a decentralized coin that was developed in August 2020.
How to Buy Shiba Inu Coins From Flitpay?
To buy Shiba Inu on Flitpay, you can log in to your account and go to our quick buy and sell section. You can instantly buy Shiba with no extra taps.
What will be the Shiba Inu Price by the end of 2021?
Per our Shiba Inu price prediction, the coin will be valued at $0.0000121 by the end of December.
What will be the Shiba Inu price by 2022?
The market indications are bearish for now. But the tables may turn in favour of you. It is advised to keep track of the events and grab the opportunity when it is at its optimal.
Is Shiba Inu a good investment in 2021?
Yes, for short-term traders, it is an option of a good investment. But for long-term traders, as of now, it's not that optimal as other cryptocurrencies, but as you know, it is an influential coin and may give good returns.
