Shiba Inu price
Shiba Inu Price in Euro
One of the characteristics of meme coins is that they start with a massive initial supply of millions, billions, or even quadrillions of tokens. Therefore, the initial price is usually very low. The initial Shiba Inu coin price was only $0.000000000056 per token.
As of this writing, the price was €0.00001215. That’s considering an exchange rate of $1=€1. Shiba Inu has seen massive price increases in the past, especially in October 2021, when it rose 240% in one week.
At one point, the price was $0.00008, a massive increase from the release price. Someone who bought SHIB initially could have gotten very rich by selling it at its all-time high.
However, SHIB later started falling in price, although it never exceeded its initial price. Prices had also risen when popular exchanges began to list it.
SHIB Price Prediction
The outlook for Shiba Inu depends on two things: the overall outlook for the crypto market and the outlook for meme coins in particular. When the crypto market is bullish, and the price of Bitcoin goes up, the cost of SHIB will likely rise too. However, even if major coins like Bitcoin and Ethereum survive a bear market, meme coins may die in popularity.
What Is the Total Supply of SHIB?
The initial supply of Shiba Inu was one quadrillion. However, Ryoshi burned half of those tokens immediately by sending them to Vitalik Buterin, co-founder of Ethereum, who burned 40% of its total supply and used the rest for a large crypto donation.
As of this writing, the total supply was 549,063,278,876,302 SHIB.
How Does the Market Capitalization Compare to Traditional Markets?
As of this writing, the current market cap of SHIB was $6,653,670,103. The market cap can change as the price increases and decreases.
While it has a pretty high market cap, putting it in the top 20 of all crypto coins, it’s still lower than the market cap of many traditional markets, such as the NASDAQ, S&P, and Google. The market cap of S&P, for example, was $36.6 trillion in 2022.
Is Shiba Inu a Good Investment?
Shiba Inu has a good outlook compared to other meme coins. Not only does it have one of the most considerable market caps of all cryptocurrencies, but it also has an entire ecosystem, unlike most meme coins which serve no purpose or utility whatsoever. Besides that, Shiba Inu is among the top most popular meme coins, alongside Dogecoin.
However, investing in any meme coin can be pretty risky. Since the value of meme coins is mainly due to how popular the particular meme is, they can go in and out of fashion rather quickly. That's why meme coins like Dogecoin and Shiba Inu have seen such massive price increases and drops.
However, one strategy could be to buy Shiba Inu when the price is low and then sell it when the Shiba Inu meme and the Shiba Inu coin start trending again. Ultimately, you must do your own research before buying any cryptocurrency.