On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Shiba Inu (SHIB) Price Predictions: How High Can SHIB Go After Coinbase Pro Listing?
Everybody’s favorite Dogecoin (CCC:DOGE-USD) spinoff is living it up today. Shiba Inu (CCC:SHIB-USD), the self-proclaimed “Dogecoin Killer,” is hitting Coinbase (NASDAQ:COIN) very soon, and it’s getting a big boost in value as a result. So, what are Shiba Inu (SHIB) price predictions looking like?
Shiba Inu is not a very serious token. It was made with the intent of becoming bigger than Dogecoin, and fostering a closer community of token holders with its robust ecosystem for staking and governance. Its long-term goals include the implementation of an NFT marketplace, and the developers have established a Shiba Inu rescue fund.
It’s not a serious token, which is why it comes as such a surprise that it is landing on the crypto exchanging monolith that is Coinbase. The platform is usually quite selective in its listings, denying Dogecoin fans the honor until just a couple weeks ago.
But now, users will be able to trade the token on Coinbase Pro as early as this Thursday. The SHIB listing shows an interest for the company into moving deeper into the meme-coin space.
According to InvestorPlace analyst Luke Lango, there is real near-term potential in Shiba Inu. He says:
“Shiba Inu coin looks like Dogecoin 2.0. That’s good and bad. The good is that Dogecoin was a wild success from a trading perspective because it gained the popularity of the masses, and Shiba Inu coin is basically Dogecoin plus more features, so it has potential to steal popularity and momentum from Dogecoin. But the bad is that the underlying tech here isn’t revolutionary, and from a core tech perspective, this is just a hype coin that will likely fade once the retail crowd moves on. The investment implication? Looks like a solid near-term trade and poor long-term investment.”
Shiba Inu (SHIB) Price Predictions: What Does New Listing Mean?
Sentiment around SHIB seems pretty bullish to begin with; the yield-farming tokens that have been popping up recently are hugely popular, and Shiba Inu is one of the first and one of the largest. This news is immediately boosting the token as a result, with SHIB gaining nearly 31% on the day.
Right now, the value of SHIB is resting at $0.000009.
Will the news help SHIB drop some more of those zeroes on its way to 1 cent? Let’s see what analysts think with their Shiba Inu (SHIB) price predictions:
- FXStreet posted a technical analysis into SHIB yesterday, predicting the token will see a potential 65% gain. That of course was before the Coinbase news, so the gains could be even greater.
- WalletInvestor thinks that in 12 months’ time, SHIB could drop one of those zeroes, inflating to a value of $0.000017.
- CoinQuora predicts a bullish period ahead for SHIB. The outlet makes a case for the token reaching a value as high as $0.0001 in 2022.
Most Popular on InvestorPlace
- Meta Materials Merger: MMAT Stock Surges Ahead of Sept. 28 Vote
- NVAX Stock: 2 Big Reasons Novavax Is Sliding Lower Today
- Short Squeeze Stocks: ATER, MRIN and 3 Others Experts Think Are Ready to Pop
- LCID Stock Dips Tuesday Despite ‘Electric’ Lucid Event Update
- BTC, ETH, ADA, XRP: Why Is the Crypto Market Down Today?