Regardless of your thoughts on meme coins, you cannot deny that they are gaining momentum in the crypto market. One of the most popular at the moment is Shiba Inu (SHIB), at least judging by current statistics and crowds of fans.
With the bull run fast approaching and meme coins becoming a hot commodity, everyone is wondering if SHIB will reach the value of $1 by the end of the year. Things are looking good, but is this goal realistic?
Let’s find out!
What’s so special about the Shiba Inu?
Meme coins became a thing in the early 2010s and were created to parody traditional cryptography. A good example is Dogecoin, which pretty much only exists to parody Bitcoin. In a fun twist, Dogecoin took off, attracting a passionate community.
A few years later, Shiba Inu came onto the scene and attracted even more attention. Although it started as a core coin, it eventually branched out and implemented ShibaSwap, a full DEX. There are also plans to implement an L2 blockchain to reduce fees and speed up transactions.
Overall, Shiba Inu is slowly introducing a much-needed utility that can only improve its chances of fighting in the treacherous crypto market. But are these efforts enough to bring it to $1 by the end of the year?
SHIB Price Forecast
According to some investors, Shiba Inu is past its peak and has already reached its value ceiling in 2021. However, others have a more positive outlook and predict that SHIB could actually rise to $1 in 2025.
The current price is $0.00001882. With the increase in trading volume over the past few months (24-hour trading volume of $1,113,807,599), it may be more realistic to expect the price to rise to at least $0.5 by the end of the year.
This is because there is a small flaw in the $1 prediction. Besides the fact that updates like L2 have not yet been implemented, the supply in circulation is simply too massive. Token burns would certainly help, but as things currently stand (total supply of 589 trillion), the market cap is expected to be around $589 trillion – which is exaggerated to say the least, considering the current trends.
While patiently waiting to see how the Shiba Inu progresses, it may be a good idea to check out newer, more practical coins that are seeing a spike in popularity and redefine the coin industry with some big boy features. A good example is another dog themed piece called Shiba Galaxy ($SHIBG).
New type of meme coin
Although Shiba Inu is a good addition to any crypto portfolio, Shiba Galaxy is a worthy choice if you are looking for a promising meme project. It’s a coin, sure, but the features Shiba Galaxy brings are those of quality crypto projects with real utility – a rare sight in the meme branch of the crypto community.
Not only is it affordable, but it is also an L2 blockchain meme coin that provides an instant bridge between Ethereum and the Shiba Galaxy chain.
This solves the pitfall common to many other coins in the meme business: high transaction fees and slow processing speeds. As a complete ecosystem, Shiba Galaxy includes both a dedicated builder and block explorer, allowing developers to create new meme coins with minimal effort.
To bridge the gap between regular crypto and a meme coin, Galaxy Shiba also offers staking, which will allow investors to earn more value on their investments.
Currently, the pre-sale is in full swing. SHIBG can be purchased on the official website for just $0.105. The good news is that the market cap is only $30 million (compared to Shiba Inu’s $11 billion), indicating that there is room for potential recovery during the bull run.
Enrich your portfolio
Meme coins are here to stay. Although Shiba Inu may not see strong growth in the coming months, it could eventually reach the $1 mark with token burns.
Galaxy Shibaon the other hand, adds a breath of fresh air by combining traditional crypto features with the appeal of memes. Since these features are rare with meme coins, Shiba Galaxy could become a major player in the industry – especially for those who buy it early.
This is a sponsored post. The opinions expressed are solely those of the sponsor and readers should conduct due diligence before taking any action based on the information presented in this article.