Should You Buy Shiba Inu (SHIB) in 2024?

Bittime - Shiba Inu (SHIB) is one of the most popular meme coins that has experienced a fantastic price increase in a short period of time.

However, before you jump on the trend and buy into it, it's important to understand the potential and risks.

SHIB Performance So Far

SHIB was launched in 2020 and was initially little known. However, in May 2021, its price shot up drastically, bringing its market capitalization to $13.6 billion. This was largely driven by the meme coin trend that was booming at the time.

Check Today's Crypto Market:

The SHIB price then experienced a decline and rose again in October 2021, along with the increase in other altcoins. Elon Musk, CEO of Tesla, made a tweet featuring a Shiba Inu dog, but the impact on the SHIB price was minimal.

Also Read : Dogecoin Vs Shiba Inu: Attracting Each Other's Eyes

Throughout 2022, the price of SHIB fluctuated due to various events such as the bankruptcy of the FTX crypto exchange. Nonetheless, the start of 2023 brings a breath of fresh air. The strengthening Bitcoin also pushed up the SHIB price. Currently, SHIB is in an accumulation phase at around $0.000007.

Also Read How to Buy Crypto:

SHIB Future: Predictions and Potential

Let's take a look at SHIB price predictions from several sources:

• DigitalCoinPrice:

  • 2023: $0.00000736 - $0.0000166

  • 2024: $0.0000179 - $0.0000211

  • 2025: $0.0000222 - $0.0000258

  • 2030: $0.0000487 - $0.0000526

• PricePrediction.net: $0.00022042 (2030)

• CoinPriceForecast: $0.00002836 (2030)

This price prediction certainly cannot be used as a guarantee. However, this could be an illustration of SHIB's future growth potential.

Also Read: Shiba Inu Burn Rate Soars 900 Percent, SHIB Price Also Rises

Current Shiba Inu (SHIB) Price

According to Market Bittime.com when this article was written (06/03/2024) the price of SHIB to USDT was at 0.00003608 and experienced a decline of -10.95% in the last 24 hours. 

Source: Bittime

SHIB Utility: Metaverse and More

Aside from its fluctuating price, let's take a look at the utility that SHIB offers:

• Metaverse and P2E Gaming: Shiba Inu is building its own metaverse in collaboration with The Third Floor, a visualization company that has worked with Marvel.
• Shiba Eternity: Shiba Inu partnered with Playside Studios to create a Shiba Inu themed P2E card game.
• Shibarium: This is a layer-2 scaling solution that is expected to reduce transaction costs and increase SHIB adoption.
• ShibaSwap: This is SHIB's decentralized crypto exchange (DEX) that allows users to trade tokens directly.
• Payment Acceptance: SHIB is now accepted as a means of payment by several platforms such as Shopping.io.

Check Crypto Prices Today:

Short or Long Term Investment?

It is difficult to say whether SHIB is suitable for long-term investment. However, SHIB has the potential to generate short-term profits if the price rises again.

Conclusion

Before deciding to buy SHIB, it is a good idea for you to consider the following factors:

• High risk: SHIB price is very volatile and can drop drastically in a short time.
• Utility: Shiba Inu is building its own ecosystem, but it is unclear whether it will be successful in the future.
• Short-term vs. short-term investments long term: SHIB may be better suited for short term investment if you are willing to accept high risk.

How to Buy Shiba Inu (SHIB) on Bittime

You can buy and sell Shiba Inu (SHIB) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Shiba Inu (SHIB) is available on Bittime with the market pair SHIB/USDT . To be able to buy SHIB USDT on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Shiba Inu (SHIB) on Bittime . 

Monitor price chart movements of Shiba Inu (SHIB), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read

Shiba Inu (SHIB) Price Prediction 2024 - 2030, Can it Break $1?

Whale Masters Meme Coins SHIB, BABYDOGE and MEME

Shiba Inu (SHIB): Getting to Know Competitor Memecoin Dogecoin

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.