Shiba Inu Price Prediction When SHIB Becomes Top 15 Cryptos By Market Cap – Can SHIB Get To 1 Cent?

The Shiba Inu price has fallen 1% in the last 24 hours, falling to $0.00001087 as the broader cryptocurrency market is up 2% today.

SHIB is also up a modest 0.5% over the past week, and is actually down 17.5% over the past 30 days, at a time when Bitcoin (BTC) is up 28% and 15% in the same time frame .

Despite this relative underperformance, SHIB has recently become a top-15 cryptocurrency by market capitalization, with a total value of $6.4 billion, making it the 14th largest coin overall.

And with the tier-two network Shibarium launching beta last week, the foundation is set for SHIB to see some significant gains over the next few months, especially with the much-anticipated SHIB: The Metaverse also revealing some new updates.

Shiba Inu Price Prediction When SHIB Becomes Top 15 Cryptos By Market Cap – Can SHIB Get To 1 Cent?

SHIB’s indicators look like a rally may be imminent, as both its relative strength index (purple) and 30-day moving average (red) are in depressed positions due to a positive correction.

For example, the RSI dropped as low as 30 earlier in the month, meaning the coin has been oversold, and with the indicator now rising steadily towards 50, it may not be long before a recovery begins.

Similarly, SHIB’s 30-day has been falling for several days, steadily approaching an inevitable return rally.

It is arguable that because SHIB has not seen the big gains that BTC, ETH and other major coins have had in the last week, it is because it will increase significantly before long.

And there are various fundamental reasons to believe such an assumption, with the beta launch of Shiba Inu’s layer-two network, Shibarium, being the most obvious.

It was published on March 11, with a full public launch of the network likely within the next few months.

Once fully launched, Shibarium will enable people to use Shiba Inu and the various apps in its ecosystem much more cheaply, with transaction times speeding up and scaling up.

As such, it is expected to increase the adoption and use of the Shiba Inu ecosystem, while increasing the demand for SHIB as a result.

Admittedly, the launch of the beta did not come without problems, with some observers claiming that it had stolen the chain ID from Rinia, an upcoming blockchain that is also in the testnet phase.

However, Shibarium’s developers quickly responded to these claims: Kaal Dhairya tweeted that they had chosen a chain ID “randomly” for Shibarium’s beta network, and that no duplication was intended whatsoever.

Dhairya also explained that his team would redeploy a new Shibarium beta network with a different chain ID, helping to dispel any suggestion that the team of layer two is simply copying other networks.

Despite this rebuttal, SHIB’s price has not recovered much from the slide it had following the emergence of the above allegations and continues to underperform many other major tokens.

Nevertheless, SHIB has moved up the rankings in terms of market capitalization this month, having moved from 15th earlier in March to 14th about a week ago.

This highlights the steady growth it is enjoying, which may continue once SHIB: The Metaverse has launched.

While no specific launch date has been set for this Shiba Inu-themed virtual world, there is a general expectation that it could arrive before the end of the year.

Their team recently shared some updates, including sharing early footage from one of the metaverse’s distinct areas.

According to developers, SHIB: The Metaverse’s world will include 100,595 purchasable lands that will be unlocked over time.

This includes 36,431 countries that will be revealed during the launch phase, which in turn will include 32,124 that will be available for purchase.

These will be categorized into different districts, each with its own particular flavor and graphical style, with the metaverse positioning itself as “the future of entertainment, business and gaming all in one.”

Given the approach of this platform, it is still credible to say that SHIB will experience some significant price gains as the year progresses.

Although it is only around $0.0000108 right now, it could easily post returns to $0.000015 and $0.00002 in the next few months.

In fact, many backers are holding out for even bigger wins, with some eyeing $0.1 (or even higher).

This is very ambitious, but if Shiba Inu’s planned launches all go according to plan, there is little doubt that SHIB will see some enviable returns sooner or later.

Buy Shiba Inu now

Shiba Inu Alternatives

Although SHIB has good fundamentals, it may not see big gains for a few weeks or months.

As such, traders may prefer to look elsewhere for big gains at the moment, with quite a few new altcoins and presale tokens showing real potential.

The Crypto news The Industry Talk team has studied such coins and created a list of the top 15 cryptocurrencies for 2023, each with good short-term as well as long-term prospects.

This list is regularly updated with new altcoins and ICO projects.

^{Disclaimer: The Industry Talk section contains insights from crypto industry players and is not part of the editorial content of Cryptonews.com.}