The Shiba Inu price is one of the most closely followed in the entire cryptocurrency community due to the size and passion of SHIB holders, but what is the currency SHIB pricing?
After the 2021 Shiba Inu had, SHIB holders were eagerly anticipating some huge breakouts to come in 2022 and beyond. This is especially true with new announcements coming on the Shiba Inu roadmap. From the Shiba Inu Metaverse to the Shiba Inu game, the Shiba ecosystem looks set to expand in the next few months and years outside of just the token itself.
But, with all the latest Shiba Inu News today, how has the Shiba Inu price fared? Let’s take a look.
Shiba Inu Price And Market Cap
The latest Shiba Inu price as of August 15 is $0.00001569, which is up 0.2% in the last 24 hours and 30% in the last week. It is also up 44% in the last month.
With a circulating supply of around 589 trillion SHIB, the Shiba Inu market cap is $9.2 billion. This puts SHIB as the 12th largest cryptocurrency by market cap.
Overall, SHIB currently seemed to be hovering between the $0.000012 mark. However, the recent crypto crash has made judging SHIB's price pretty tricky.
Aside from Shiba Inu, there are two other coins in the Shiba Inu ecosystem, LEASH and BONE. These are currently trading at $593 and $1.04, respectively.
So, what’s the reason for these Shiba Inu prices?
- Read More: Who Owns the Most Shiba Inu?
Shiba Inu Price History Explained
The current Shiba Inu price has bucked the wider crypto trends, with SHIB surging 37% over the weekend. This spike was much larger than those of Bitcoin and Ethereum.
However, it does still remain down from its early 2022 price, which can be attributed to the wider cryptocurrency market.
As for the recent decline, general world turmoil is one factor in cryptocurrency prices, as is the Luna crypto crash. The de-pegging of UST and Luna’s drop by 99% saw the whole market crash pretty hard at the same time. From May 6 to May 13, SHIB lost 40% of its value, dropping from $0.00002 to $0.0000116 in a week.
Since then, yet another crash in mid-June saw SHIB add a zero to its price for the first time in a while. Here, Shytoshi Kusama said the bear market is the best time to buy SHIB.
SHIB’s major boom first came in October 2021. After several new listings and alongside the wider crypto bull run, it spiked from $0.000007 at the start of October to a high of $0.000086 less than a month later.
So, what’s next for Shiba Inu?
Shiba Inu Price - What’s Next?
While we are not going to speculate on the specific Shiba Inu price of the future, there are several new projects that SHIB holders hope could spark a price increase.
The Shibarium Layer-2 is perhaps the most anticipated project among SHIB holders, with the public beta coming in Q3 2022. Meanwhile, the Shiba Inu Game, known as Shiba Eternityalso hopes to bring a more mainstream audience to SHIB.
Alternatively, SHIB burn fans hope that burning SHIB can increase the price. By reducing the circulating SHIB using the Shiba Inu Burn Portal, they hope scarcity pushes up the price. Burners have described the latest crash as a huge opportunity for more SHIB burning, too.
However, while SHIB holders may hope events and new releases boost SHIB’s price, this is not guaranteed. Any price predictions you see online are not guaranteed to come true. As with everything in crypto, DYOR is vital.