The price prediction for the Shiba Inu in 2022 may be a bit off compared to last year. Although still considered good, there are a number of challenge
The performance of Shiba Inu (SHIB) was amazing in 2021. Repeatedly setting record highs, this token with a Japanese dog icon has become a hot topic of conversation among investors and cryptocurrency traders.
This is inseparable from the tweets of the Tesla boss, Elon Musk, as well as the hectic discussion about this token on various social media platforms. No wonder this coin dominated the cryptocurrency world last year.
Not only do they dominate the crypto world, SHIB also managed to close 2021 by becoming the most viewed cryptocurrency on CoinMarketCap—43 million more views than Bitcoin.
However, what about this year? Will SHIB's performance be as brilliant as last year? Check out the following review.
What is Shiba Inu (SHIB)?
Before knowing how to predict the performance of the Shiba Inu this year, it's good if you first understand what Shiba Inu is.
This token with a brown dog symbol from Japan may remind you of a similar cryptocurrency, Dogecoin. The presence of SHIB is intended to be an alternative to Dogecoin, a coin that was also popular last year.
SHIB and Dogecoin are meme coins, that is, cryptocurrencies associated with a particular theme—in this case, SHIB and Dogecoin are Shiba Inu dogs.
Meme coins are also often launched as parodies or jokes rather than as a useful digital product.
Price Prediction for Shiba Inu (SHIB) 2022
Soaring high thanks to Elon Musk's tweet in October 2021 is not a guarantee that SHIB prices will continue to increase.
Crypto is known for its volatility, and the Shiba Inu is no exception. In an instant, high prices can drop considerably, and vice versa.
Behind the skyrocketing price of SHIB last year, this meme coin actually received a lot of criticism because it was considered less useful.
The significant increase in SHIB prices cannot be separated from speculation, fear of missing out (FOMO), and Elon Musk's words on Twitter.
Shiba Inu's performance in 2022 looks less than good. Closing at a price of US$0.00003416 on December 31, 2021, this token seems to continue to experience a decline in price until it hits its lowest point in January 2022, which is US$0.00001882.
However, this cannot conclude the performance of SHIB throughout 2022.
This token has quite large projects, including building a Level 2 Blockchain, collaborating with Australian game developers to create multiplayer card games, and so on.
Two Cryptocurrencies Predicted to Beat Shiba Inu (SHIB)
Entering the new year, there are two crypto assets that are predicted to be able to beat the Shiba Inu.
They are Solana (SOL) and Cardano (ADA). What do these two crypto-assets look like?
Solana (SOL)
One of the crypto assets that is predicted to beat the Shiba Inu is Solana.
Solana (SOL) is a Blockchain network that was launched in 2017. This platform is a project run by the Solana Foundation.
When it comes to transaction numbers, the transaction process on Solana is faster and the fees are more affordable when compared to its rival, Ethereum.
Solana is the most demanded Blockchain network for the decentralized finance (DeFi) and NFT sectors. No wonder Solana is predicted to win Ethereum market share, especially in terms of NFT and DeFi.
If you look at the form of competition with SHIB, Solana may quickly be above Shiba Inu because of the increasing trend of NFT and Blockchain-based games also increasing Solana's users.
Currently, Solana is in 8th place with a market capitalization of US$28,071,918,860.
Cardano (ADA)
Apart from Solana (SOL), Cardano is also expected to replace Shiba Inu's popularity because of its unmatched network capabilities.
Just like Solana, Cardano is also a Blockchain. Cardano is programmable and allows smart contracts to function optimally to help developers, especially novice developers.
With that capability, Cardano is even expected to be able to compete with one of the largest Blockchains today, Ethereum.
In addition, Cardano also has stronger real-world adoption potential when compared to SHIB. That's what can make investors interested in investing their funds in this network.
Many experts have predicted the performance of SHIB this year. However, as an investor, you certainly understand that cryptocurrencies are highly volatile.
There is no guarantee that this Shiba Inu price prediction will come true, so be careful when making a decision.
