The Shiba Inu coin has become famous mainly because of its well-developed ecosystem (established in less than 2 years), high community engagement and price speculation by retail investors. It’s easy to see: the official SHIB token’s Twitter account boasts more than 2.9 million followers as of March 2022, a record among many altcoins.
The total fixed supply of SHIB coins is pretty amazing: one quadrillion coins, which is a number with 15 zeros. Half of this total supply is in the Uniswap Shiba Inu/Ethereum liquidity pool. This decentralized exchange platform allows users to automatically deposit this crypto pair into liquidity pools, allowing other investors to trade against them as well. This process is known as an automated market maker system.
Right now, a number of Shiba Inu investors are hoping that the coin will hit the $0.1 mark in just half a year, thanks to its rapid 60x growth.
After Shiba Inu was finally allowed to trade on major crypto exchanges, it grew by 49,000,000% and many believe this may happen again.
While hitting 1 cent is a pretty good scenario, some go even further and hope for a whole $1 prize. Using simple math, this jump is only slightly different from the one everyone is waiting for: a surge to $1 would mean an increase of another 4,700,000%. In addition, the coin is given the status of a payment form like other cryptos.
So is it even possible, and can we expect huge growth in SHIB coins this year? Let’s find out!
Current Shiba Inu Price Prediction: Should We Consider Buying SHIB in 2022?
Siba Inu has been nominated for one of the top performing cryptocoins over the past week as it has gained nearly 5% over the past week.
It is obvious that the coin will experience some growth on top of what has already been achieved, but according to many experts, it will not reach $1 in the near future.
Here’s why in simple terms, if there are currently around 550 trillion Shiba Inu coins and each coin hits $1 price, then this cryptocurrency would hit $550 trillion, which is a super rare thing. Okay, isn’t it just a number?
To better illustrate the situation, the entire cryptocurrency market has only now reached $3 trillion after more than a decade of existence. That’s almost 300 times more than the entire crypto market.
A much better way to look at a SHIB coin is how useful the coin can be with its blockchain.
For example, try to determine the value of a coin beyond simple price speculation. Time shows that coins that offer some utility are more likely to increase in price.
How to get rewarded with Altcoins and Bitcoins: Crypto Faucets
A great way to get free crypto coins in a minimal amount is through crypto faucets – an app or platform that gives away a little bit of crypto as a reward for completing simple tasks. This crypto is then sent to micro wallets and can then be easily withdrawn.
This is a perfectly legitimate way to get hold of bitcoin or whatever altcoins you want. While not a get-rich-quick scheme, using faucets is a good method to learn more about the crypto working mechanisms and get some extra digital money.
Are cryptocurrency faucets different from exchange services?
Yes, a crypto faucet is a completely different type of instrument. An exchange aims to allow users to exchange digital currencies at reasonable rates. For example to make one Shiba FTM To exchange, you can visit LetsExchange.io, where the most used coins are exchanged for free instantly and with no withdrawal fees. Also, you can evaluate how profitable it is to make a transaction using a calculator tool.
Besides, LetsExchange.io is also a good advisor for investing, cryptocurrencies and crypto faucets. Check out the blog on LetsExchange to see what that is best bitcoin faucet now for you
https://filmdaily.co/obsessions/shiba-inu-bitcoin/ Can Shiba Inu reach $1? Are Bitcoin Faucets worth it? – Movie daily