Will Shiba Inu Dominate the Next Meme Coin Super Cycle?

Can Shiba Inu lead the next meme coin super cycle? Explore its community strength, ecosystem growth, and potential for massive gains in the coming bull market.

The era of meme coins in the crypto world started with Dogecoin’s instant hit on Reddit. Originally a joke, the cryptocurrency themed around an internet meme became a store of value powered by the community’s support. 

The second mover in this space, Shiba Inu, created by “Ryoshi,” is centered around Shiba Inu- the Japanese dog. As the second biggest meme coin, Shiba Inu ranks as the 12th biggest cryptocurrency in the industry with a market cap of $10.31B.

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Meme Coins: Fueled by Community, Poised for Growth

Like other cryptocurrencies, meme coins are a digital store of value, but unlike Bitcoin, they are generally seen with an unlimited supply. Despite the risk of superinflation, these coins find value from community support and interesting new use cases in decentralized finance and global adoption. 

In the last crypto bull cycle, Dogecoin recorded a massive jump from $0.0012 to $0.7488 between April 2020 and May 2021. Similarly, Shiba Inu peaked at $0.00008841 from $0.000000005 between February and October 2021. The driving factor behind the meme coins remains the strong community support, social media trends, and influence of key personnel like Elon Musk. 

Shiba Inu: From Meme Coin to DeFi Powerhouse

Created by Ryoshi in August 2021, Shiba Inu was built over the Ethereum blockchain and named the “Dogecoin-killer.” Thus, it became the first widely recognized meme coin on Ethereum. Initially started as a Dogecoin competitor, Shiba Inu now offers an ecosystem with DeFi services. It consists of SHIB TREAT LEASH and BONE to offer liquidity and staking services. 

Furthermore, the ecosystem brings a decentralized exchange, ShibaSwap, supporting token swaps, staking, and yield pairs. Increasing the utility of SHIB, the launch of Shibarium layer-2 has opened up a new avenue. With such innovative developments, the general sentiment expects a boost in its market value. Curious about the future price trend? Check out the SHIB price prediction.

Shiba Inu’s Potential to Lead the Next Meme Coin Bull Run

With the market cap of all the crypto meme coins crossing the $65B threshold, sentiments are extremely bullish. Further, with Bitcoin inching closer to a new all-time high, meme coins maintain the status of a high-performing crypto segment. Tweets from high-profile people like Elon Musk and Donald Trump have significantly impacted meme coin prices and boosted community support, fueling the bull run.

The market cap of Shiba Inu is less than 50% of Dogecoin, reflecting a massive upside potential. However, the Shiba Inu community remains extremely loyal compared to other new and trending meme coins. Further, Shiba Inu remains one of the top performers compared to other dog-themed meme coins, with an ROI of 16406277.63%.

Like the 2021 super cycle mentioned before, Shiba Inu shows the potential to repeat its golden history. Despite the crypto market approaching 2021, retail demand has yet to explode. Even though Bitcoin is trading at an all-time high, the crypto market cap is still below $2.5T. 

If the broader market shoots beyond the $3T market cap recorded in 2021, the bull run in Shiba Inu will likely create a new all-time high. Some crypto experts expect a 341% rise by May 2025, and some predict a peak of $0.00022 by 2030. 

Challenges and Risks

The price trend of Shiba Inu and other meme coins is loosely based on speculations in the crypto market. Even a minor sentiment dip can lead to sharp fluctuations and double-digit correction. Although the regulations impact Bitcoin directly, the indirect impact with increased market volatility is seen in Shiba Inu and meme coins. 

Further, as the underlying value comes mainly from community support rather than solely based on use cases, meme coins are more volatile than traditional cryptocurrencies. Even the chances of being rug-pulled in the meme coins are significantly higher. For example, the Solana Meme Coin Sharpei lost its entire value in seconds. 

Conclusion

High anticipation of the next crypto bull run fuels the chances of a new super bull cycle in meme coins. Under such conditions, Shiba Inu, with its growing ecosystem and strong community, is ready for a super cycle. Amid the new bull market, stay updated on the latest news and developments in the crypto world on CrytonewsZ.

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Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.