Shiba Inu (SHIB) Looks Like a Good Fit for Only the Most Risk-Tolerant Investors
Shiba Inu is now listed on Coinbase. What's Shiba Inu's (SHIB) price prediction for 2030, and is it a good long-term investment?
Sept. 24 2021, Published 10:16 a.m. ET
Shiba Inu has lost momentum again after surging on its addition to Coinbase and Binance. Given its recent movements, investors are wondering if the Shiba Inu is a good long-term investment. What's Shiba Inu's (SHIB) price prediction for 2030?
Shiba Inu was launched in 2020 with the aim to overtake the original meme cryptocurrency, Dogecoin. The cryptocurrency is named after a Japanese dog breed.
How is Shiba Inu performing?
Shiba Inu has been range-bound for the past few weeks. The coin jumped in mid-Sep. 2021 on to its addition to Coinbase and Binance, and Shiba Inu leader Shytoshi Kusama announcing that Shibarium, or Shiba Inu Layer 2, is coming soon. The development should enhance the transaction process. However, the coin has since fallen again, by 12 percent.
Shiba Inu's price prediction for 2030
Cryptocurrencies are volatile, and it's difficult to predict their prices a few days or even a few years ahead. Some long-term forecasts are as follows:
- According to Changelly, SHIB could rise 420 percent to reach $0.00004 by Jan. 2030.
- CryptocurrencyPricePrediction sees Shiba Inu gaining 2,000 percent to reach $0.0001756 by Dec. 2030.
- Digital Coin Price sees SHIB rising 300 percent to $0.0000309412 by Dec. 2028.
Predictions for the token vary widely, but most observers expect an upside.
Is Shiba Inu a good long-term investment?
Shiba Inu has amassed massive returns in 2021 but most of these gains have been due to investors expecting it to follow in the footsteps of Dogecoin, which can thank Elon Musk for much of its success. While the network is trying to shed its meme currency status, Shiba Inu's usability is still limited—a major concern for serious investors. It has slightly more usability than Dogecoin, but there are plenty of other cryptos that are more useful and aim to solve real-world problems.
Shiba Inu skyrocketed on the day of its Coinbase listing but then fell. As AMB Crypto reports, this kind of movement makes SHIB untrustworthy and more of a pump-and-dump asset. Whereas it's possible the coin climbs as people seek the next Dogecoin, to stay up in the long term, the coin will need strong fundamentals.
As Shiba Inu is volatile, even the most risk-tolerant investors should be cautious and invest only how much they're willing to lose.