Will Shiba Inu reach $0.10 this year?

SHIBA Inu is back in red - and some are still wondering where the price will be by the end of 2022.

For the most part, Shiba Inu has experienced volatility this year.

Over the past 24 hours, Shiba has dropped 1% to $0.00002596, according to

On October 28, Shiba hit an all-time high of $0.00008845.

However, since then, Shiba has been trading well below those levels.

In November, Shiba Inu was listed on crypto exchange CoinDCX.

It followed the company announcing it was the first cryptocurrency firm in India to reach a valuation of over $1billion, giving it unicorn status.

But this year, cryptocurrencies across the board have slumped, as inflation fears continue to prevent sky-high gains.

What to know about Shiba

The first thing to keep in mind is that cryptocurrencies in general are subject to risks. This is because of the extreme volatility in the industry.

If you aren’t careful – you could lose a lot of money quickly.

For instance with Shiba, before October, its previous high was $0.0000388 in May 2021.

However, it plunged 85% from that point in July 2021.

Plus, Shiba launched trading just last August. Newer cryptocurrencies are riskier than those that have been around for longer, such Bitcoin, and could make you more vulnerable to scams.

The main thing to know about Shiba is that it's widely known as a meme coin. A meme coin typically gains off a social media or internet-based joke.

For example, a big rally last month started when billionaire Elon Musk posted a picture of his Shiba puppy on Twitter. 

Mr Musk has done the same with another popular meme coin known as Dogecoin.

Speaking of which, Shiba tokens feature the same dog of Dogecoin.

Sometimes Shiba is referred to as the “Dogecoin killer.”

Marie Tatibouet, chief marketing officer of crypto exchange Gate.io, told The Sun that meme coins are acting the same way the Reddit mob has trolled hedge funds this year.

She said: "Dog meme coins have that same sentimentality and almost cult-like effect on their community."

Meanwhile, former stockbroker and convicted felon Jordan Belfort isn't quite a fan of meme coins including Shiba.

Will Shiba Inu hit $0.10 this year?

Overall, it’s difficult to predict how Shiba’s price will change in the future due to a wide number of factors affecting it.