Will Shiba Inu Coin Reach 25 Cents In 2023?
✍️ 8 February, 2023 - 19:23 👤 Editor: Jakub Motyka
- The self-proclaimed ‘Doge killer’ has the potential to rise in 2023, according to experts.
- But could it reach 25 cents? Below we explore the possibility.
- The latest news about cryptos is on our Telegram channel.
Dubbed as the ‘Dogecoin killer,’ Shiba Inu (SHIB) is one of the most popular meme tokens. Many market analysts believe that Shiba Inu’s native token, SHIB, could rise in the future.
Part of the reason is that the cryptocurrency has a huge following, a wide market capitalization, and a limited token supply. So, will SHIB reach 25 cents this year?
The Current State Of Shiba Inu
At the time of writing these lines (Feb, 8), SHIB was trading at $0.00001383, representing a change of -2.32% in the past day, per data from CoinMarketCap. The canine-themed token boasts a market capitalization of $7,590,004,428 and ranks #13 in the cryptocurrency listing.
Although there is nothing certain in cryptoland, and prices can move either way, it could take a while before SHIB can trade at 25 cents, and that might not happen this year. Part of the reason is the tokenomics of the meme currency. SHIB was launched with a massive quadrillion tokens, where 549,063,278,876,302 are currently in circulation. Although the token burn rate is about 4% per year, it could take long before demand can impact the price.
Could Shiba Inu Coin Price Rise In the Future To 25 Cents?
It does not mean SHIB will not rise at all. Other positive aspects of the Shiba Inu ecosystem could boost the value of the meme currency - including a growing adoption and expansion in Shiba Inu’s ecosystem. AMC Entertainment and Newegg currently accept payments in Shiba Inu. In addition, the digital asset is integrated into the payments network Flexa, allowing users to make purchases in major outlets, including GameStop.
Looking forward, what does the future of the Shiba Inu coin look like, and could it reach 25 cents in 2023? The future of Shiba Inu depends on adoption and technology. Some of the latest in the Shiba Inu ecosystem are Shiba Eternity (a play-to-earn game) and ShibaSwap (a decentralized exchange on the ecosystem).
Now, check the price prediction of Shiba Inu (SHIB) for 2025.
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- shiba-inu-shib-25-cents-price-prediction: Pixabay
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