Shiba Inu Price: Latest SHIB Price, Market Cap, And Shiba Inu Price History
Due to the magnitude and enthusiasm of SHIB holders, the Shiba Inu price is one of the most carefully followed in the whole cryptocurrency world, but what is the currency SHIB pricing?
SHIB holders were looking forward to some major breakouts in 2022 and beyond after the 2021 Shiba Inu. This is especially true with the upcoming Shiba Inu roadmap announcements. Outside of the Shiba Inu coin, the Shiba ecosystem appears likely to develop in the next months and years, from the Shiba Inu metaverse to the Shiba Inu game.
How has the Shiba Inu pricing fared in the wake of all these announcements, rumors, and community sentiment? Let's take a look at what we've got.
Shiba Inu Market Cap and Price
As of June 10, the current Shiba Inu price is $0.00001028, down 3% in the previous 24 hours and 8% in the past seven days.
The Shiba Inu market valuation is 6.05 billion, with a circulating supply of about 589 trillion SHIB. SHIB is now the 17th most valuable cryptocurrency in terms of market capitalization.
SHIB presently appears to be trading in the $0.00001-$0.000013 range.
LEASH and BONE are two more currencies in the Shiba Inu ecosystem, in addition to Shiba Inu. At the time of writing, these are trading at $449.36 and $0.49, respectively.
So, why are these Shiba Inu prices so high?
The History of Shiba Inu Prices
The current Shiba Inu price reflects the overall crypto market movements. When comparing the charts of SHIB to those of Bitcoin, Ethereum, and Dogecoin, the similarities are startling.
In terms of the current drop, overall international unrest, as well as the Luna crypto fall, are both factors. The de-pegging of UST and Luna's 99 percent plunge caused the whole market to plummet at the same moment. Between May 6 and 13, SHIB dropped 40% of its value, falling from $0.00002 to $0.0000116 in a week.
The first significant boom in SHIB occurred in October 2021. It soared from $0.000007 at the start of October to $0.000086 less than a month later, thanks to many fresh listings and the larger crypto bull run.
So, where does Shiba Inu go from here?
What's Next for the Shiba Inu Price?
While we won't guess the future Shiba Inu price, there are a few new initiatives that SHIB holders are hoping will result in a price boost.
The Shibarium Layer-2 project is likely the most eagerly awaited by SHIB holders. Meanwhile, the Shiba Inu Game wants to expand SHIB's appeal to a wider audience.
SHIB burn enthusiasts, on the other hand, expect that by burning SHIB, the price would rise. They expect that scarcity will drive up the price by lowering the amount of SHIB in circulation utilizing the Shiba Inu Burn Portal.
While SHIB holders may anticipate that events and new releases would increase the value of their SHIB, this is not guaranteed. Any price forecasts you read on the internet are not guaranteed to be accurate. DYOR is crucial in crypto, as it is in everything else.