For some, cryptos are an investment asset that could help make quick capital gains. But for enthusiasts that believe in the HODL (hold on for dear life) ideology, cryptos are much more.
This set of investors is eyeing long-term gains from their holdings. In the long term, however, the factors that might shape crypto prices can be different. Not Elon Musk’s tweets or any sudden spurt in demand, but things like Web 3.0 could be the real drivers. Shiba Inu is one of the few cryptos that have gained over the past week. What factors would shape its price by 2025? Let’s find out
Shiba Inu’s place in Web 3.0
Web3 or Web 3.0 is one of the major technology trends today.
Also read: Elon Musk’s crypto holdings & how they’ve performed in 2021
Shiba Inu might fit into this space due to its decentralized attributes. Web 3.0 envisions a decentralized form of the internet. Here, tokens like SHIB might be used as a medium of exchange between transacting parties. Web 3.0, according to some, might be a combination of multiple elements including blockchains, token currencies, NFTs, and metaverses.
Shiba Inu might come out with its blockchain network in the coming months. Called the Shibarium, it can lift SHIB’s status from a meme currency to a wider ecosystem.
Reportedly, the Shibarium may help reduce transaction fees as compared to other networks like Ethereum. Besides, SHIB itself is a popular token, one of the top 15 by market cap as of now, which can help it be a token with utility in Web3 economics.
Also read: Bitcoin price prediction 2025: Can Web 3.0 catapult BTC to $300,000?
Shiba Inu’s new products
The project is said to include a stablecoin, pegged to one cent, in the near future.
As of now, Tether remains the top stablecoin pegged to the USD. Tether’s trading volume trumps even that of Bitcoin’s due to the former’s use as a stable asset to trade in various cryptocurrencies.
USD Coin or USDC is another billion-dollar market cap stablecoin. SHI, the proposed stablecoin of Shiba Inu, can become a rival to Tether’s dominance.
As a form of payment, SHIB is said to be accepted by the NASDAQ-listed Newegg, an online retailer. How Shiba Inu’s blockchain-powered ecosystem unfolds is a thing of speculation as of now, but if it can add support for DeFi and NFTs, SHIB’s price may appreciate on these developments.
Also read: What is Polymath’s Polymesh & POLY crypto’s price prediction?
SHIB price prediction 2025
SHIB has a very low price per token as of now, but SHIB’s market cap makes it a formidable crypto.
The all-time high price of this meme token is US$0.00008, which it attained in October 2021. Trading well below this price as of now, SHIB might rally to US$0.0001 by the end of 2022 if Shibarium’s and the SHI stablecoin’s launch adds more value to the project. By 2025, if SHIB can find its place within Web 3.0, and if the Shibarium can trump Ethereum and SHI can trump Tether, the SHIB token may rally to US$1.
Data provided by CoinMarketCap.com
Also read: What is Crypto.com’s CRO coin & its price prediction by 2030?
Bottom line
SHIB’s price in the long term might depend on the project’s ecosystem and its utility within Web 3.0. The Shibarium blockchain network and the cent-pegged SHI remain a close watch.
This news is republished from another source. You can check the original article here
Be the first to comment