Currently, Shiba InuCoin is growing surprisingly fast to 3.33 million on Twitter. The fact is that the project has only been around for almost a year and has already become one of the most successful MEME tokens. The Shiba Inu coin, which was previously still behind Dogecoin, is currently only at around 20,000 followers of the Dogecoin token and could surpass it at any time. On the same day, the developers also tweeted that they had added two new trading pools to ShibaSwap – Perlin and Ryoshi – and burned $25,000 in SHIB and LEASH coins. As Ryoshi wrote in the Shiba Inu white paper (or “Woof paper”), “We earned the nickname DOGECOIN KILLER because we have the ability to exponentially exceed the value of Dogecoin without ever exceeding the $0.01 mark.” Ask The Doctor is simply a leading user. They were the first Canadian healthcare company to adopt Bitcoin in 2016. This could lead one to wonder if Ask The Doctor has been forward-looking in the face of Bitcoin`s rise since then. The market reaction so far suggests that this doesn`t mean much as the SHIB has fallen. Former Federal Reserve Chairman Ben Bernanke shared his thoughts on Bitcoin and other cryptocurrencies in an interview with CNBC on May 17. Ben Bernanke said that Bitcoin and other cryptocurrencies have succeeded as speculative assets.
The main use of Bitcoin is mainly for underground economic activities, which usually involve illegal areas. I don`t think Bitcoin will become an alternative to fiat currency. Exchanges offering SHIB include Currency.com, Kucoin, CoinBene, Capital.com, Probit Global, CoinDCX, WazirX, Binance, Crypto.com, Huobi OKEx, Coinbase, and ShibaSwap. So what happens now for the future? What should be considered in a Shiba Inu coin price prediction for 2022? That`s not to say it won`t eventually increase, but the size of the potential supply is driving its price down somewhat. It will certainly not reach the sacred $1 mark without causing serious financial disruption. But the low price of the coin also means that there is potential for growth, although it is important that investors are realistic in their expectations. The idea of such a statement could indicate the future direction of cryptocurrencies. Due to the dramatic fluctuations in cryptocurrency prices over the past couple of weeks, countries` guidelines for virtual currencies are gradually becoming stricter. This not only affects the trend of stable cryptocurrencies, but cottage coins, such as the Shiba Inu coin, are also severely affected. The problem is that it just seems unlikely at this point.
The coin is always a commercial tool and little more. I therefore suggest that we proceed with caution. Because in the end, Shiba Inu is very unpredictable. Unless the company behind it really builds a public service, it will continue to do what it has been doing since the end of October. This is a good starting point to convince you to stay away from Shiba Inu. When DOGE recovered in early May 2021, people started looking for the next Dogecoin – and many of them chose SHIB. That means that on May 8, the day Elon Musk appeared on Saturday Night Live, the price skyrocketed from $0.000005246 to $0.00001883 — an increase of about 260 percent. The uncertainty on Wednesday triggered a massive sell-off of cryptocurrencies such as Shiba Inu and Dogecoin, which fell more than 20% on the WazirX platform, one of the leading cryptocurrency exchanges in India. They were much less affected on trading platforms such as Binance or Kraken. Bloomberg Law reports that Bitcoin`s energy needs have come under the control of the Biden administration, which is currently working on policy recommendations on cryptocurrency mining. White House Deputy Director of Energy Dr. Costa Samaras said it was crucial to reduce global emissions if Bitcoin became a “significant” part of the financial system.
However, there are few details on the government`s approach to regulating cryptocurrency mining, and it is unclear whether a policy will be implemented. As reported by U.Today, President Biden signed an executive order on cryptocurrencies in March. The decision was welcomed by the cryptocurrency community as it was seen as generally favorable to the industry, especially miners. Things got mixed up at the end of May when crypto`s pseudonymous founder, Ryoshi, deleted all his tweets and disappeared from the internet, so we`ll have to see what happens next to the meme coin. Dogecoin, the first cryptocurrency meme, has been proposed to become legal tender in the state of California. The idea came from Timothy Ursich, a chiropractor and sports physician who is running for the U.S. Senate in California. The candidate is calling on Dogecoin co-founder Billy Markus and Tesla CEO Elon Musk to support his campaign ahead of the June 7 primaries. Although the Golden State has recently become crypto-friendly, it is obvious that Dogecoin has little to no chance of being adopted as legal tender in California, as Ursich is likely to receive a small number of votes. As previously reported by U.Today, California is one of the best states in terms of bitcoin mining, despite its goal of achieving carbon neutrality by 2045.
The state accounts for 7.5% of the country`s hashrate. There are certainly more than quite a few SHIB evangelists online, so it seems reasonable to think that this meme piece isn`t going away right away. So, what does a Shiba Inu coin price prediction predict in 2022? Shiba Inu (SHIB) was founded in 2020 by a mysterious founder known only as Ryoshi. The idea behind SHIB was to create a cryptocurrency that is theoretically 100% decentralized and powered by its community.