Can memecoins pack a punch in 2024? Is Shiba Inu a “Dogecoin Killer?” What started as a countermeasure to DOGE’s success, primarily led by Elon Musk tweets, Shiba Inu has scaled considerable heights since 2020. The ecosystem has introduced a layer-2 scaling solution, an in-house decentralized exchange, and a multi-token setup. This Shiba Inu price prediction explores the future price action of SHIB, the ecosystem’s native token.
In 2023, SHIB made a high of $0.0000147, which aligned with our minimum price prediction for 2023. And while the maximum price prediction didn’t exactly materialize, courtesy of the lackluster performance of its Card Game and the Shiba Inu metaverse, we might see the tables turning in 2024.
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- SHIB price prediction and fundamental analysis
- SHIB tokenomics and the impact on price action
- Key metrics and SHIB price prediction
- Shiba Inu price prediction and technical analysis
- Shiba Inu (SHIB) price prediction 2023
- Shiba Inu (SHIB) price prediction 2024
- Shiba Inu (SHIB) price prediction 2025
- Shiba Inu (SHIB) price prediction 2030
- Shiba Inu (SHIB’s) long-term price prediction until the year 2035
- Is the Shiba Inu price prediction model accurate?
- Frequently asked questions
This article may be outdated, we suggest you visit our new Shiba Inu Price Prediction tool.
SHIB price prediction and fundamental analysis
Despite starting off as a memecoin, Shiba Inu (SHIB) has demonstrated a willingness and capacity to move past the fun tag. Here are the developments that have surfaced or are planned, helping Shiba Inu transform into an all-inclusive blockchain project:
- It already has its own DEX, ShibaSwap.
- The project is created by an unnamed group or individual called “Ryoshi,” — aligning with the ethos of decentralization and anonymity.
- Retail investors are steadily adopting SHIB and even accepting customer payments. By 2022, 500+ merchants already came into the fold, including ZenGo, a Samsung-backed wallet provider.
- The development team behind Shiba Inu is also piecing together an NFT-powered metaverse. This innovation will involve digital lands and the growth of associated tokens like LEASH and BONE.
- A layer-2 scaling solution called Shibarium is in the works — a development that will help Shiba Inu expand its horizon. At present, the beta testnet is live.
- An ambitious stablecoin, SHI, might also see the light of the day once Shibarium starts rolling out at a clip.
- SHIB is the native ERC-20 token of the Shiba Inu ecosystem. The token’s market cap surged from the low of $5.45 billion on March 10, 2023, to $6.85 billion on April 16, 2023, even surging past the BUSD market cap.
Did you know? From April 16 to December 19, 2023, Shiba Inu’s market cap remained flat, even dropping to $6.1 billion. This drop happened regardless of the success of Shibarium, Shiba Inu’s layer-2 protocol.
These are only a handful of developments that might push the price of SHIB toward its highest price in either the short or long term.
SHIB tokenomics and the impact on price action
Shiba Inu has a very expressive token economics model, which started with an initial total supply cap of 1 quadrillion. Coming to the allocation, 50% of the total supply cap was sent to Ethereum founder Vitalik Buterin, and the remaining was locked in UniSwap liquidity.
Vitalik burned 90% of the supply allocated to him and sent over the remaining 10% to India’s Covid relief fund. This attracted some negative sentiments post-16 May 2021 when the tokens were burned. However, SHIB recovered rather quickly and scaled new heights by October 2021.
As of now, 589 trillion tokens are in circulation. Shiba Inu also has a token-burning mechanism in place, helping keep a balance between the demand and supply.
“CryptoRelief sending $100m of the $SHIBA funds back to me. I plan to personally deploy these funds with the help of science advisors to complement CryptoRelief’s existing excellent work with some higher-risk higher-reward covid science and relief projects worldwide.”
Vitalik Buterin, Co-Founder of Ethereum: X
Simply put, if the burn rate keeps growing, along with the developments that are in store, the price of SHIB tokens might start looking up. However, holder stats show that over 80% of the circulating supply is being managed by the top 100 holders — an aspect that can be disconcerting for retail investors. However, that was in April. As of December 2023, the Whales control over 67% of the supply, hinting at a centralized circulation.
Also, based on the data from April 2023, Shiba Inu’s burn rate is excellent, keeping the supply less inflationary than what it could be. If the burn rate increases, we might see an increase in demand and chances of a price surge.
Key metrics and SHIB price prediction
The number of addresses holding SHIB has dropped over the past 90 days, with April seeing the biggest dip in over a few months. This might hint at a decline in popularity for the time being. This drop in the number of active addresses can also be due to the drop experienced by SHIB tokens post- Feb. 4, 2023, when prices reached $0.00001551.
Compared to April, even December 2023 isn’t all that favorable when the active address count is concerned. It is noticeable that a surge in the number of active addresses can push the prices higher — something that happened in June 2023.
From an investment point of view, the price volatility associated with SHIB tokens seems to be high. Historical data suggests that every cratering drop in volatility has eventually resulted in a price surge. Therefore, the recent high volatility might not be good news for SHIB holders in the short-to-mid term.
Shiba Inu price prediction and technical analysis
Our April 2023 prediction
The short-term price action of SHIB is best represented by the falling channel pattern inside which it is currently trading. Do note that the price of SHIB is tantalizingly close to the upper (descending) trendline. If the current prices can breach the $0.00001149 mark — the immediate resistance — expect the price action to break past the upper trendline — towards the next resistance levels of $0.000012 and $0.0000133, respectively.
The daily RSI showed up with a bullish divergence a few trading sessions back. So, we expect SHIB to maintain that momentum and breach past $0.00001149 as soon as possible.
Notably, SHIB did move higher from this level to $0.00001428, validating our April analysis.
Our December 2023 prediction
SHIB, per the daily chart, is trading inside an ascending channel pattern. SHIB didn’t attempt to breach the upper trendline of the channel but quickly re-entered the channel, thanks to the bears. For now, a move above $0.000011 can again lead to a pattern breach on the upside. On the downside, the 20-EMA and 50-EMA lines act as strong support levels. However, a drop under $0.0000092 could lead to a bigger correction, if and when it happens.
Now let us take a look at the weekly chart to see if there is a broader pattern in sight.
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Pattern identification
The weekly pattern looks quite straightforward, with SHIB starting at a high, making a low, and eventually reaching its highest price of $0.00008845. From the high, SHIB makes a few lower highs before dropping to another low.
From the low, SHIB makes another high, and if the previous pattern repeats, we might soon see another high forming above the previous one. Now let us mark all the points for your reference.
Price changes
To locate the average price percentages for every high-to-low and low-to-high move in the future, we need to locate the distance and price changes for three paths: A to B, A2 to B, and A2 to X2. Finding these levels will help us make proper calculations and locate the next set of moves.
Path 3: A2 to X2
As there are only two points, the distance is 140 days, and the price percentage drop is -57.19%.
We can now use the table insights to calculate further.
Calculations
We can add the negative and non-negative values from above to locate the next high-to-low and low-to-high moves.
High-to-low: 52.47%.
Low-to-high: 466.82%.
The time taken for a high-to-low move can be anywhere between 21 days to 140 days, depending on the state of the crypto market. (from tables and data mentioned earlier). Also, the time taken for a low-to-high move can take anywhere between 14 days to 63 days, per the table data from earlier.
We can now use the data and calculations to plot Shiba Inu price forecast levels through 2035.
Shiba Inu (SHIB) price prediction 2023
First of all, two out of three points in 2023 were successfully touched, ensuring that our SHIB price prediction did align with market sentiments.
Here is the approach we followed for 2023.
Notice that we already have X2 or the last low on the price chart. While the average price hike percentage, per our calculations, is 466.82 (data from earlier), the current state of the crypto market might mean a price hike of 68.18% — the lowest one per the table above.
Do notice that SHIB already scaled a high of above 103% in under 35 days when it touched $0.00001562 towards the end of January 2023. Therefore, the next high, or B2, could be traced at 314.23% (the immediate one before the average of 466.82%). The time taken might not be 63 days as we cannot predict the exact moment in this crypto market.
Putting that into perspective, we can expect B2 to surface at $0.00003014 near July 2023. The next low, from this high, could drop by 52.47% in 140 days. This puts the SHIB price prediction low for 2023 at $0.00001428.
Shiba Inu (SHIB) price prediction 2024
Outlook: Very bullish
Following the low in 2023, which was successfully touched, we can expect SHIB to make another high in 2024. However, per the previous pattern, the high could be lower than B2. This is when we can expect the price hike percentage to be restricted to 68.18%, per table 2.
This puts the SHIB price prediction high for 2024 at $0.00002406. The next low, depending on the market capitalization of SHIB and the state of the broader crypto market, can surface in 140 days and drop 25.42% — near the important support level of $0.00001799.
Projected ROI from the current level: 140%
Shiba Inu (SHIB) price prediction 2025
The next high would depend on the nature of developments corresponding to Shiba Inu. Considering them to be bullish and in line with expectations, we can expect a hike percentage of 132.80% — the second lowest from the table. Per our projection, this could be the SHIB price prediction for 2025 and surface at $0.00004187.
The next low might surface at an important support level of $0.000030, which is still closer to the drop percentage of 25.42% — the lowest one from the tables above.
Projected ROI from the current level: 318%
Shiba Inu (SHIB) price prediction 2030
Outlook: Bullish
The next high, in 2026, could form at a growth level of 199.20% (the third lowest from the table). This puts the Shiba Inu price at $0.00008854 — higher than its current highest price. Post this level, we might see Shiba Inu price action move into more aggressive territory.
Now that we have 2025 low and 2026 high, we can extrapolate the same to locate the Shiba Inu price towards the end of 2035. Do note that this is just an approximation, and the final value will depend on the long-term adoption of SHIB — the ERC-20 token.
The approximation puts the price of SHIB at $0.000629 by the end of 2030.
Projected ROI from the current level: 6190%
Shiba Inu (SHIB’s) long-term price prediction until the year 2035
Outlook: Very bullish
You can easily convert your SHIB to USD here
Now that we have the price action associated with SHIB tokens till 2030, we can extrapolate the same through 2035. Here is a table to help you with that:
| Year | Maximum price of SHIB | Minimum price of SHIB |
| 2023 | $0.00003014 | $0.00001428 |
| 2024 | $0.00002406 | $0.00001799 |
| 2025 | $0.00004187 | $0.000030 |
| 2026 | $0.00008854 | $0.00005489 |
| 2027 | $0.0001328 | $0.00008233 |
| 2028 | $0.0001660 | $0.0001029 |
| 2029 | $0.000291 | $0.000802 |
| 2030 | $0.000629 | $0.000490 |
| 2031 | $0.000786 | $0.000613 |
| 2032 | $0.001179 | $0.000731 |
| 2033 | $0.001415 | $0.001103 |
| 2034 | $0.003113 | $0.002428 |
| 2035 | $0.004670 | $0.003642 |
Is the Shiba Inu price prediction model accurate?
This Shiba Inu price prediction model is loaded with data-backed technical analysis. We have also discussed the fundamental aspects of this developing meme coin, focusing on its upcoming scaling solution and growing market cap. Therefore, this price forecast is as accurate and realistic as possible in the context of a dynamic and volatile market.
Frequently asked questions
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