Shiba coin has been one of the best cryptocurrencies to buy in 2021. It hit an all-time high in October. If a person only invested $100 in the crypto at the beginning of the year, they became a millionaire. Shiba Inu's (SHIB) price has retreated nearly 40 percent from its peak. Will it go back up? What’s Shiba’s end of 2021 price prediction?
Shiba crypto started as a joke trolling Tesla CEO Elon Musk’s beloved Dogecoin, but it’s developing into a serious project. After Shiba briefly overtook Dogecoin in market cap, many investors are concerned that it might be too late to buy the SHIB token. They're rushing to find the next crypto to explode. As a result, meme coins like Dogelon, Bitrise, EverGrow, and Ryoshis Vision token have caught investors' attention.
Will Shiba coin go back up?
Although some investors have run to alternative meme coins to try their luck, Shiba coin remains popular. After it retreated from the peak, many investors are wondering whether they should buy the dip.
There are still a number of potential catalysts that could trigger another breakout in Shiba's price. There's a campaign to get Robinhood to list Shiba coin like its rival Dogecoin. The petition has received overwhelming support from Robinhood traders, which raised hopes that the broker would grant customers' wish.
Shiba's price exploded after it got listed on Coinbase and that might happen again when it makes it to Robinhood. SHIB token getting listed on eToro, another popular crypto trading platform used by millions of investors, could also send its price soaring.
What sparked the latest Shiba coin rally was Musk sharing a photo of his puppy. The electric vehicle billionaire bought a Shiba Inu dog and named it Floki. Many Shiba coin fans got excited after Musk tweeted a photo of the cute Floki puppy and rushed to buy the meme crypto.
People are becoming more interested in Shiba Inu dogs amid the popularity of dog-themed cryptocurrencies. Shiba Inu is a famous hunting dog breed that originated in Japan. A Shiba dog named Deng Deng recently sold for $25,000 at an auction in China. Shiba coin could get more investor attention as people share cute pictures of their newly acquired Shiba puppies on social media.
What’s Shiba coin's end of 2021 price prediction?
After hitting a record high of $0.00009, Shiba's price has pulled back to about $0.00005. Besides social media mentions by public figures and speculations about a Robinhood listing, the crypto has also drawn interest with its programs. The team behind Shiba is building a family of complimentary tokens. The team has also launched a crypto trading platform called ShibaSwap and entered the promising DeFi sector.
The team has set its sights on the booming NFT business. There's also the ancillary Ryoshis Vision token project that's also starting to attract plenty of interest. These programs have the potential to increase the value of the Shiba coin. Therefore, the crypto could recapture its peak and go even higher before the end of 2021.
Will Shiba's price reach $0.10 in 2021? That looks unlikely because it would be growing the market cap to about $6 trillion. In contrast, Bitcoin’s market cap is only a little more than $1 trillion.