What is the Shiba inu price (USD) today?

Shiba inu price (USD) today

The Shiba Inu Price (USD) today can be seen on Bitso’s landing page for the Shiba Inu coin. On it you will find detailed information about its price, the units of this currency circulating in the market and even a popularity ranking in comparison to other crypto currencies. 

If you are still deciding whether to buy this coin or not, know that many factors come into play, including the Shiba Inu Price (USD) today. Some of them are its origin, its highest and lowest prices, as well as what might happen in the media or make its price fluctuate.

To understand the key singularities of this very popular digital coin, keep reading.

What was the origin of the Shiba Inu coin?

The Shiba Inu cryptocurrency was created in 2020 by a group of anonymous people using the pseudonym Ryoshi to sign this creation off. 

Shiba Inu is considered a memecoin — a cryptocurrency that’s name is based on a “meme”, a joke that is popular on the internet. Being represented by a dog of the same breed as that in the Dogecoin, the precursor of the memecoins, SHIB was created to compete with it.

It is based on Ethereum’s ERC-20 protocol and is not the only fruit of this project by Ryoshi. In fact, other two secondary coins named LEASH and BONE were launched at the same time. 

As well as this, they are also investing efforts and money in other solutions to make the SHIB universe more complete and complex than that of other crypto currencies. These and other complementary releases related to this coin are also responsible for affecting the Shiba inu price (USD) today.

The creators are also working on a metaverse where it could be used, which will be named SHIB: The Metaverse. 
According to recent statements given by the developers of this launch, they are planning to make it partially available for users by the end of 2023.

This pre-launch will give developers an opportunity to get users’ feedback before releasing the full version, which is a safe bet considering any bad news surrounding it can impact the Shiba Inu price (USD) today.

What is the Shiba Inu price prediction?

As well as with other cryptocurrencies prices, to get to a realistic prediction for the Shiba Inu price (USD) today, we should take some things into account.

The Shiba inu price (USD) today oscillates mainly due to the market’s supply and demand. Therefore, anything that affects these factors will affect the price.

So whether it is a Tweet made by a very influential person telling people to buy it or the launch of some platform where it will be accepted, these are capable of affecting the Shiba inu price (USD) today. Foreseeing this type of occurrence can be really challenging, almost impossible at times.

Another very important point is that as with any other crypto investment, the specifics of this asset are worth your study time as they affect whether people will or not be interested in buying it, which also affects its worth.

Some other characteristics that affect the Shiba inu price (USD) today are: 

  • It is a memecoin: therefore, it was initially created as a joke and to build a community around it — it wasn’t necessarily thought up with the intention of being something groundbreaking for the crypto community.
    • This is mostly seen as a downside for more conservative crypto investors being one of the main reasons the Shiba inu price (USD) today doesn’t get close to other massive crypto coins. However, recent actions taken by the people behind the SHIB coin have been teasing the media and users with snippets of future platform launches that may make its acquisition even more interesting.
  • The founders want to develop a platform where it could be used. Shiba Inu has everything it needs to become seen as more than an asset to buy, wait for an increase in its valuation and sell. If the SHIB: The Metaverse launch is successful, it will not only grant the coin more visibility but also some extra usability that will give it further interest from buyers.
  • The Shiba Inu coin has some very valuable partnerships that make it more than a coin to be sold later. Very famous streaming platforms such as Netflix and Spotify, for example, already accept it as a means of payment.

The Shiba inu price (USD) today in the market is going through some considerable oscillations, having faced a tremendous decrease in May 2023.

But the pattern of its price variation in the past months shows that the idea of it growing again is not something too far from reality. This, however, depends on it seeing the dawn of a better market scenario.

For a possible recovery of the value, it is also key that no negative or unforeseen occurrences take place. And any future launches tied to its name, such as the SHIB: The Metaverse, have to be successful not to impact its value negatively.

Considering the Shiba inu price (USD) today, what were its highest and lowest prices?

According to the history of this coin, the highest price it had was 0.00008845 USD, reached on 28th October 2021. On the other hand, the lowest price it had in all its history was 0.00000000008165, which was marked on 31st August 2020. 

That very low value, however, seems to be a nightmare left in the past, as in the last twelve months (May 2022 to 2023) the lowest price of a unit of SHIB was 0.0000753 USD.

With the Shiba inu price (USD) today as it is, should I invest in it?

At the beginning of May 2023, the price of the Shiba Inu coin plummeted again. However, for investors that believe in its potential, this can actually be interpreted as an opportunity to buy it for a lower price, only to get a larger profit out of it when its value increases again. If you have that same mindset, you can use the Shiba inu price (USD) today in your favor.

Before taking the necessary steps to invest in it, it is recommended to do your research on the coin and follow the most recent news about it. This will help you spot potential upcoming positive or negative impacts on its price. 

Once you make the decision to invest and think the “Shiba Inu price (USD) today is great”, count on Bitso to help you buy and do transactions using this cryptocurrency in just a few seconds. 

Besides having educational content to support you in your investment, Bitso also offers a very comprehensive exchange app for IOS and Android.