Whether you are a crypto enthusiast or not, you would have surely heard of Shiba Inu (SHIB) and Dogecoin (DOGE). The infamous meme cryptocurrencies have taken the world by storm due to their dog-themed logos and fun-inducing marketing campaigns.
Now, what if SHIB and DOGE holders came together to form a whole new cryptocurrency? Let me introduce you to ShibDoge (SHIBDOGE), a wholly decentralized utility token created by the coming together of two of the greatest crypto communities.
Today, we are going to dive deep into the project to understand what ShibaDoge is all about, how it works, what purpose it serves, its tokenomics, and how much will it be worth in the next three years.
So, let’s get started.
What Is ShibDoge?
ShibDoge is the first community-driven utility token born from Shiba Inu and Dogecoin whales coming together for the greater good of both communities. The token which trades under the symbol “SHIBDOGE” was deployed for the first time on the Ethereum blockchain on December 24, 2021.
The main vision of its creators was to offer the ShibDoge community a decentralized ecosystem that would put users ahead of operators. ShibDoge ensures that its approach would help the community achieve its set objectives in a collective effort.
By leveraging the power of Web3 and decentralized finance (DeFi), SHIBDOGE developers aim to deliver as much value to the ecosystem as possible.
The project promises to build unique ecosystem products and services that will help it feature permanently in the emerging and burgeoning crypto market.
What Is The Goal Of Shibdoge?
The main purpose of ShibDoge is to bring together the two mortal crypto enemies for the greater good of the industry. Both Shiba Inu and Dogecoin whales decided to join hands and fight for the same mission – take over the monetary system from government-controlled monopolies and give the power of currency back to the people.
How Does The Project Plan To Achieve This Goal?
Both Shiba Inu and Dogecoin holders amount to 5 million each. It is a hard task to bring together 10 million users. For this to happen, the creators of ShibDoge have set a more achievable short-term goal of attracting 1% of the user base from both communities.
This ensures that the platform will have more than 50,000 active users, making it easier for ShibDoge to bring in more users and expand its community in the future.
An interesting feature of ShibDoge is that it has an anti-whale policy. This ensures that every wallet in the network will be limited to holding a maximum of 1% of the token’s circulating supply. It also has an auto-deflationary mechanism that works by reducing the total supply with every transaction.
The ShibaDoge ecosystem is powered by the SHIBADOGE token. The cryptocurrency has a market value of $3.48 million and a maximum supply of 420 sextillion tokens. With a total supply of 108.05 sextillion tokens, data suggests that 100.56 sextillions of SHIBDOGE are currently circulating in the market.
The asset has a fully diluted valuation of $14.53 million, with a 24-hour trading volume of $1,790.
At the time of writing this article, SHIBDOGE was trading at $0.000000000000000035 – down over 5% in value from the previous day’s price.
SHIBADOGE Price Prediction 2023
ShibaDoge is forecasted to trade at $0.00000000000000003042 on the lower end and $0.00000000000000005289 at the highest in 2023.
If the token can reach its upper price target by the end of the year, then its value could increase by 51.17%.
SHIBADOGE Price Prediction 2024
Based on technical analysis and historical price movements of ShibaDoge and the Bitcoin halving cycle, the token is estimated to be trading at an average price of $0.00000000000000003042 next year.
However, ShibaDoge can reach a maximum price of $0.00000000000000008049 in 2024.
SHIBADOGE Price Prediction 2025
In 2025, experts predict ShibaDoge to trade between $0.00000000000000006812 at its lowest and $0.0000000000000002746 on the higher end.
If the token performs true to expectation and reaches its upper target, then its price should increase by 614.53%.
ShibaDoge is a relatively new cryptocurrency project that was formed from the coming together of two of the biggest communities in the space.
Although the project’s mission is awe-inspiring, where it aims to grab monetary control from centralized authorities and give it back to the people, the performance of its native token over the years since its inception suggests otherwise.
If you are an investor looking for a short-term trading token, then SHIBDOGE might be your thing. But the asset cannot guarantee you any long-term returns as its overall performance within the ecosystem and in the market is weaker than its counterparts, to say the least.
As a market analyst, I would suggest you do your own research before investing in cryptocurrency.
Frequently Asked Questions
ShibaDoge tokens can be purchased from both centralized and decentralized exchanges. The most popular exchange to buy the token from is UniSwap V2 on the Ethereum network and XT.com in the SHIBDOGE/USDT trading pair.
ShibaDoge reached its highest price in history of $0.00000000000000158074 on July 9, 2022.
ShibaDoge traded at an all-time low of $0.00000000000000000033 on August 17, 2023.
The market sentiment for ShibaDoge is negative as 50% of users believe the token would be a bad investment under current market conditions.