If you’re a crypto bull and you thought Dogecoin’s (CCC:DOGE-USD) run was unprecedented, please direct your attention to Shiba Inu (CCC:SHIB-USD). The SHIB token’s longevity has proven to be completely unpredictable to anybody outside its fervent fanbase. Now, the network is getting the added benefit of a Binance (CCC:BNB-USD) listing and some new scaling plans which many hope to prolong its enduring impact on the market.
Shiba Inu began as a clone of Dogecoin, spawned in response to DOGE’s incredible tear from 1 cent to 73 cents over the course of mere days. Since then, the token is boasting a lending ecosystem which rivals even the most-esteemed of DeFi lending services. Using the SHIB token alongside sibling token Dogecoin Killer (CCC:LEASH-USD) and governance token Bone (CCC:BONE-USD), users can stake their tokens, reap the rewards, and participate in democratic votes over future proposals.
The SHIB token draws criticism often for its lack of inherent utility outside of its hive-like ecosystem. Today though, the crypto is earning praise, thanks to a pair of announcements which are instilling great optimism in the community.
First, the company is landing its long-awaited Binance listing. Yesterday morning saw the exchange giant announce that SHIB was open for trading on its platforms. Of course, this is huge news for the jumpstart token; Binance is the most popularly used exchanged in the world for buying and selling crypto assets. Secondly, Shiba Inu leader Shytoshi Kusama made a big announcement on the Shiba Inu Discord server that’s exciting bulls. The network is apparently planning to implement a layer-2 solution to make transactions process much faster.
Shiba Inu Price Predictions Rise on Binance Listing, Scaling Plans
SHIB is in a rut this morning, even with the bullish news. The value of the token is dropping 4%, likely as some investors “sell the news.” But the crypto still presents some longevity and growth potential. Where might SHIB go from its current $0.0000066 value? Let’s look at some Shiba Inu price predictions and see what analysts think:
- CoinPriceForecast thinks Shiba Inu has plenty of growth potential left through the end of the year. By December, the outlets says SHIB will be worth $0.000011.
- WalletInvestor says SHIB can hit a similar high, but it will take a year. The site’s 12-month prediction places SHIB at $0.000018 by September 2022.
- The Economy Forecast Agency predicts only paltry gains for SHIB through the end of the year. At the close of 2021, the site says the token will grow to just $0.0000071.
- Gov Capital says SHIB will take great strides to close the gap toward 1 cent over the next year. By September 2022, the outlet says the token will be worth $0.000322.
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.