Shiba inu (SHIB) is a token created by an anonymous team in August 2020. The developers positioned the new meme currency as a continuation of another meme digital token inspired by them – DOGE. Soon the developers sent 505 trillion. tokens to Buterin (worth $6.7 billion), who burned about 90% of the coins, thereby increasing their value.
Shiba Inu is a token created using the Ethereum network. After its creation, it quickly gained popularity and began to appear on both decentralized and centralized exchanges. When SHIB was created, 1 quadrillion tokens were generated.
When initially listed on the Uniswap exchange, the Shiba Inu price was $0.0000000421 and in April 2021, the currency price rose to $0.0000024, which was about a 5000% increase.
How does Siba Inu token burning work?
There are two types of coin burning: manual and automatic. In the manual method, tokens are deliberately removed from circulation by sending them to non-existent wallets and “Black Hole” wallets. Automatic burning occurs with every token transaction. Thus, more and more tokens are burned every day. Burning tokens increases the value of the coin and makes it more attractive to investors. According to the latest data, 40 million Shiba Inu tokens were burned in October 2023. And in December, the token developers announced that from now on the burning of the token will be automated. In December, 34 billion tokens were burned. At the beginning of 2024, more than 9 million tokens have already been burned. 2024, according to Shiba developers, should be the year of massive burning. Therefore, there is a possibility that the value of the token will increase in 2024. Time will tell whether 1 Shiba Inu token will cost $0.1 or even $1, although this seems unlikely, but some experts do not exclude this possibility.
Is Shiba Inu worth buying?
Undoubtedly, the token is very promising and many traders make predictions with a price of $0.01 or even $1. But with the current volume of coins, this is unlikely, although the value of the coin is growing, and sometimes at a rapid pace. The real value of the token will be determined by time and the behavior of other tokens.
Shiba Inu (SHIB) token price forecast until 2030
According to most review sites on the internet, the value of SHIB could increase by +5% to reach up to $0.000047 in 2030.
| Year | Price |
|---|---|
| 2024 | $ 0.000035 |
| 2025 | $ 0.000036 |
| 2026 | $ 0.000038 |
| 2027 | $ 0.00004 |
| 2030 | $ 0.000047 |
Brief characteristics of the token:
- Volume: 999 982 367 717 358
- Date of creation: August, 2020
