- Shiba Inu is skyrocketing due to targeted focus on token burning
- Shiba Inu’s rebound reflects a broader recovery in crypto markets
- According to CryptoPredictions.com, Shiba Inu will reach $0.000084 in Q1 2022
Shiba Inu, a meme coin featuring a lovable canine, hardly needs an introduction. What you might not know is that until very recently, this was the longest period it had not declined since October 2021.
Shiba Inu is rising due to a strong focus on burning tokens, including on Valentine’s Day (Burn Party scheduled), and strong payment partners as well as an active focus on SHIBVERSE.
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What is Shiba Inu?
Shiba Inu is an Ethereum-based altcoin that features a Japanese breed of hunting dog. The self-proclaimed Dogecoin killer was created in August 2020 by a pseudonymous individual or group called Ryoshi.
The meme coin quickly gained speed and value as a community of investors was drawn in by its cute charm paired with headlines and tweets from personalities like Elon Musk.
Shiba Inu’s price soared more than tenfold in October last year, ranking it 10th among all cryptocurrencies by market cap.
Initially being only one meme coin of many, Shiba Inu skyrocketed to popularity after Vitalik Buterin famously burned the SHIB given to him by Ryoshi. Buterin’s share would have been worth billions after SHIB’s value soared, but if he hadn’t burned it, its price wouldn’t have increased!
Shiba Inu price prognosis
With leading cryptos like Bitcoin and Ethereum also gaining value, Shiba Inu’s rebound reflects a broader recovery in crypto markets. This development has given investors new confidence in the meme coin and the market in general.
According to CryptoPredictions.com, Shiba Inu will reach $0.000084 in Q1 2022. Its price will continue to grow, reaching $0.000088 in the third quarter of the year. It was trading for $0.000033 at the time of writing.
As for a longer-term prediction, Crowd Wisdom cites a range of forecasts for 2025 by various platforms and apps. These range from $0.07 to $0.000049 in descending order, coming to an average of $0.008.
Should I buy Shiba Inu now?
Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never take any decisions affecting your finances before an in-depth market analysis. Shiba Inu can reverse its gains just as easil
