Shiba Inu (SHIB): Price Prediction For 2023

Shiba Inu SHIB Price Prediction 2023

✍️ 24 October, 2022 - 16:31 👤 Editor: Jakub Motyka

Shiba Inu (SHIB) was one of the coins that recorded one of the highest returns in 2021, with a very positive long-term prediction.

Despite this, its price and capitalization has not stopped falling since its last all-time high in October last year. What was the reason for its last bullish rally? It will happen again? How far will it go in 2023? What is the Shiba Inu (SHIB) price prediction for 2023?

Since the nature of Shiba Inu is originally a dog-themed meme coin, at first it had no project or specific utility. It was created by the anonymous Ryoshi, to make direct competition to Dogecoin. It's in absurdly high supply, and has been entirely run by its community. Thanks to the efforts of a development team, new utilities and tools have been proposed for its ecosystem.

What Does Shiba Inu (SHIB) Need To Resume The Upward Trend With Its Price In The Face Of The 2023 Prediction?

Until now, all bullish rallies of Shiba Inu (SHIB) have been due to the action and pressure of their own community. It was not until mid-2021 that a team of developers laid the foundations of the ecosystem that we know today as Shiba Swap.

Through its platform, users can stake Shiba Inu in exchange for BONE, and other platform cryptocurrencies.

Shibarium de Shiba Inu (SHIB)Source: Unsplash
The ShibArmy community has been key in previous Shiba Inu cryptocurrency (SHIB) bull rallies.

After the launch of the NFT collection, Shiboshis, the community considered the need to have its own network for Shiba Inu. This in the face of Ethereum's outrageous transaction fees during the issuance of NFTs. Otherwise, the SHIB token could never be used as an exchange currency by its users. Hence the importance of Shibarium for the evolution of the price of Shiba Inu.

Shiba Inu (SHIB) Price Prediction For 2023

Shibarium is just around the corner, and with it, a world of initiatives and new utilities for the tokens of its ecosystem. Despite the deep valley in which the Shiba Inu and his community find themselves, his star token is renowned for exploding when no one is looking.

Shiba Inu SHIB Price Graph Last 6 Months Until Today, October 24 2022
Graph with the price of the Shiba Inu cryptocurrency (SHIB) during the last 6 months until today, October 24, 2022.

Many analysts assure that the Shiba Inu could eliminate another zero during its next bullish rally. In this way, and using a Fibonacci extension, the next target of the SHIB token is located in the range of USD 0.00012 to 0.00013.

To do this, you must first recover ATH from him in a new and unexpected move, which could be after Shibarium is cast. At the moment, the next Shiba Inu (SHIB) price prediction is at $0.50.

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Angélica Añez
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Image sources:

  • shibarium-shiba-inu: Unsplash

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