Is The Shiba Inu Coin A Good Long-Term Investment?

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Want to make a long-term investment in the Shiba Inu coin? This article will help you to know whether the SHIB coin is worth it or not.

Once you acquire money to make any long-term investment, the next step should be acquiring information as much as possible about your desired investment. So, let’s see what is the origin of the Shiba Inu coin.

What is Shiba Inu?

Shiba Inu is a Japan-based decentralized cryptocurrency created in August 2020 by an anonymous person known as “Ryoshi“.

It was created while following the pattern of Dogecoin, another cryptocurrency by Ryoshi. Important point is that Dogecoin and SHIB are two different cryptocurrencies just having a common creator, so don’t get confused.

Shiba Inu is a Japanese term for a breed of dog, the same dog is depicted in the Dogecoin symbol, which itself is a meme-based cryptocurrency.

It is also given the tag of “Dogecoin killer” by Ryoshi himself.

Reason for being termed as “Dogecoin killer”

Shiba Inu has now become a top 20 cryptocurrency with a market cap of $12.3 billion.

If Shiba Inu were to overtake Dogecoin’s market capitalization of $29.3 billion, it would need to reach a price of $0.0000743.

At such a price, SHIB’s circulating supply of 394 trillion would result in a market cap higher than that of Dogecoin, placing it among the top 10 coins.

For this to occur, its price would have to increase by 165.5%. If its price increases by 165.5% then it would be an increase of 91.5% over its May all-time high price of $0.0000388.

Shiba Inu is superior to Dogecoin due to the abundance of use cases and the way the coin was distributed. 

Hopes for Shiba Inu to overtake Dogecoin are growing, with social media data showing the former is growing significantly more popular — at least among Twitter users. 

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Also, SHIB entered into a partnership with a crypto payment processor, NOWPayments, taking one step ahead to win this game.

According to data provided by the leading crypto data platform CoinMarketCap, Shiba Inu reported a trading volume of $5.36 billion on October 11, 2021, while Dogecoin saw only $1.82 billion.

This means today’s Shiba Inu volume is more than 194% — or nearly double — than reported by Dogecoin.

Though SHIB is doing well, the ultimate question is it worth investing in it for the long term?

Is the Shiba Inu coin capable of being a good long-term investment?

To know whether it is worth investing in SHIB, we need an idea that how it’s going to perform in the future.

Analyzing its past performance will help us peep through the window of its future.

Past performance of Shiba Inu

When Shiba Inu first hit the market under the ticker symbol in May 2021, it reached a price of $0.000039.

  • The difference between the Shiba Inu price in the mid of August 2021 and that price is a whopping 403%, highlighting the price potential for this crypto.
  • In the crypto market usually whatever happens to the major coin (Bitcoin), the same can be seen happening to altcoins.

This means that when many investors buy Bitcoin and its price rises, so too does the price of smaller altcoins.

This ripple effect can greatly benefit tokens such as Shiba Inu, as it helps the coin piggyback off of Bitcoin’s success.

  • However, if Bitcoin isn’t doing too well, it can have the opposite effect.

This is what happened during June and July 2021, when momentum for Shiba Inu slowed down and price gradually decreased.

Notably, the 7th of August saw some huge bullish volatility for the Shiba Inu coin price, with a 24% increase in one day.

Shiba Inu price chart

The bullish surge helped the price break out of the falling wedge pattern that it was trapped in.

This surge has given renewed hope for investors as with the Shiba Inu coin future price begins to look increasingly prosperous.

Special features of Shiba Inu

Along with past performance, special features possessed by SHIB can also predict its future performance.

Some features that make it more demandable are-

ShibaSwap platform:

The Shiba Inu developers have recently launched their ShibaSwap platform.

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It is a decentralized exchange where users can trade several digital coins.

Although ShibaSwap is focusing on other dog-related cryptos, there is scope for NFTs to be traded on the platform too.

Acceptance by Shopping.io :

Shiba Inu is also now accepted by Shopping.io, a platform that lets users buy goods from places such as Amazon, eBay, and Walmart using crypto. 

As these sites do not directly accept crypto as payment, Shopping.io is an intermediary for people who wish to make their purchases using cryptocurrency.

The fact that Shiba Inu is now accepted means that the coin has another practical use case – which is sure to increase its value in the months and years to come.

Shiba Inu price forecast based on long term outlook (2025, 2030)

Shiba Inu is capable of being a good long-term investment.

It has found some solid momentum recently, breaking out of the falling wedge pattern cleanly. 

Also, its developers have listed new pairs on ShibaSwap, adding to the platform’s credibility.

Furthermore, it has built up a sort of ‘cult following’ due to its original status as a meme coin, which is bound to help the coin grow going forward. 

Based on the predictions given by Economywatch if it can capitalize on the current market environment, then Shiba Inu coin price prediction 2025 sees the coin head towards the $0.000038 level which would represent a 395% (approx.) increase from today’s price.

Shiba Inu price prediction 2030 values the coin at the $0.00008 level.

This would be a 933% (approx.) increase from today’s price, which is an incredible return for crypto investors (long-term).

Now that you have an answer to your question and you know that Shiba Inu can prove to be a good long-term investment. You must be curious to buy your SHIB but from where and how?

Where to buy Shiba Inu?

Shiba Inu is available on various platforms like-

How to buy Shiba Inu coin?

To buy SHIB on Uniswap, you need to buy Ethereum first. As it requires you to exchange Ethereum for SHIB.

The easiest way to buy Shiba Inu coins is via the KuCoin exchange.

You need to follow the downlisted steps to buy SHIB on KuCoin –

Step 1. Sign in to your KuCoin account.

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Step 2. Click on “Buy Crypto” on the top-left corner and click on “Credit/Debit Card.”

Step 3. Under “I Want to Spend,” enter the amount of USDT you’d like to purchase.

Step 4. Under “I Want to Buy,” click on the drop-down menu and select USDT (before getting SHIB, you need to purchase something called USDT)

Step 5.  Next, select your payment method (e.g. Visa/MasterCard) and payment channel.

Step 6. Tick the “Disclaimer” button and click “Confirm.” Follow the prompts to finish the payment process.

Exchanging USDT for Shiba Inu

Step 1. After a minute or two, go and check for USDT in your Main Account, which you can locate by going to Assets > Main Account.

Step 2. Click on the “Transfer” button next to USDT to switch your USDT over to your Trading Account.

Step 3. Next, go to your Trading Account and confirm that your USDT is there.

Step 4. Click on “Markets” to get started on swapping USDT for Shiba Inu.

Step 5. On the far right, type in “SHIB” into the search bar.

Step 6. Click on the SHIB-USDT trading pair.

Step 7. At this point, you may be prompted to input your trading password.

Step 8. Once you’ve confirmed your trading password, click on Market on the lower-right quadrant.

Step 9. In the “Buy SHIB” section, click on the 100% button, which will ensure that all of your USDT is swapped for SHIB. If you prefer to put in a custom amount, you can do so in the Amount field.

Step 10. Click on “Buy SHIB.” 

And you are done!

Final Thoughts

By now you know that the Shiba Inu coin can prove to be a good long-term investment. And also you know the different ways to buy it.

Earlier we used to exchange fiat currency for goods but now e-wallets have taken their place. So, the same is going to happen with investments as well in the future.

Even today also, people are more interested in buying digital investments rather than buying land, Gold, etc for investment purposes.

So, if you found the information given in this article useful, then do share it with the people who might be looking for the same. And all the best for your investment. Get. Set. Invest!

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