Shibnobi price prediction: A ‘deadly Shiba’?
Shibnobi claims to be creating a safe and accessible ecosystem, but is it enough to stand out?
- What is Shibnobi (SHINJA)?
- Shibnobi’s ecosystem
- The SHINJA token
- CertiK audit found ‘major’ problems
- SHINJA price prediction
- The future of Shibnobi
Shibnobi, a crypto company from Texas, is among a swathe of cryptocurrencies that are attempting to release a suite of DeFi, NFT and metaverse products.
The team at Shibnobi are hoping its ecosystem will be enough to set it apart, though with its Shiba Inu-style logo, it easily blends into the rest of its competition. A focus on accessibility and safety is Shibnobi’s plan for reeling in demand, but not everyone is buying into these claims, as CertiK initially found “major issues” with Shibnobi’s smart contract.
How will this affect the trading price of SHINJA, and what is the latest Shibnobi price prediction?
What is Shibnobi (SHINJA)?
Shibnobi is a crypto company with a mission to build a community-driven ecosystem that will pave the way for the next generation of investors. Simplicity and safety are being prioritised, the company says, with its aim being “to make the crypto space fairer and more informative for the average investor”.
It was founded by Cliff Fettner and someone identified publicly only as Luke C. Fettner’s LinkedIn profile says he had previously worked as an IT manager at the warehouse automation company Carter Intralogistics. Luke C has not provided his last name and is currently working at another crypto project titled TheCryptSpace.
The company is hoping to achieve its safety goals by creating “real world accountability” for the projects it is partnering with. This will be done, it says, via “know your customer” (KYC) and business checks.
None of Shibnobi’s ecosystem of products has been released yet, though there are four projects in the works.
The whitepaper, in a fine example of corporate waffle, said: “Shibnobi strongly believes that by creating strong utility within its ecosystem for its end users in particular, it will drive sentiment and user adoption that would incentivise projects to join the Shibnobi ecosystem.”
Dojoswap is Shibnobi’s native exchange and is designed, the company says, to be a user-friendly tool for trading. The exchange will be using liquidity pools powered by investors, which it is hoping will enable easy trades across different networks.
Dojoswap will be accompanied by Shibnobi’s own wallet. It plans on being one of the most secure online wallets through a three-factor authentication system. Shibnobi has not expanded on what these three factors will be, aside from a code sent via an authenticator mobile app.
There are also plans to release a blockchain designed specifically for Shibnobi. This network will have higher transaction speeds and lower fees than Ethereum. But it is now looking like the Shibnobi blockchain will go live in Q3 2022, which could be after the new Ethereum update that is addressing these problems.
The Dojoverse is the final piece of Shibnobi’s ecosystem. This metaverse is said to be using NFTs to give its community a place to socialise and game. Its whitepaper said: “The feudal Japan-themed Shibnobi metaverse is expected to be expanded into a full virtual reality experience, allowing access to its ecosystem tooling in fun and gamified ways.”
Aside from the Dojoverse’s 2023 release date, the rest of Shibnobi’s ecosystem is due to launch by the end of this year.
Shibnobi has also announced plans to rebrand the network, but the response on Twitter has been largely negative:
The SHINJA token
Shibnobi’s SHINJA cryptocurrency is the utility token designed to power its ecosystem. It will be the payment choice for economic transactions as well as for users to access premium features, such as exclusive metaverse items, the company says.
SHINJA is currently on the Ethereum blockchain as an ERC-20 token, as the team found that was the easiest network to create smart contracts. However, when the Shibnobi blockchain launches next year, investors will be able to migrate to the new network “with very little complexity”.
CertiK audit found ‘major’ problems
Although Shibnobi boasts of being a safe and secure platform, the CertiK has found otherwise. The four “major issues” discovered by the audit were all related to centralisation risks.
The audit found the owner has control over certain functions of the token, such as setting fees and transferring ownership. CertiK also discovered the SHINJA tokens were minted to a centralised address, which could pose risks if it was hacked, although these centralisation issues have since been resolved. Swift price reversals are also causing concern for investors, with inconsistent pricing suggesting the asset is a high-risk option.
CertiK has made recommendations for Shibnobi to avoid these risks. But the crypto project is yet to take its advice and resolve the issues.
SHINJA price prediction
The audit is not the only difficulty facing Shibnobi and a future SHINJA price prediction. The token has a tiny price tag, making it difficult to keep track of its history or to produce a Shibnobi price prediction for 2022 and beyond.
CoinMarketCap says the price of SHINJA is $0.000000000000000783, a few trillionths of a cent, at the time of writing. However, all of its historical data says the token is under $0.
It is a similar story with the SHINJA coin price prediction. There are sites like DigitalCoinPrice that have a Shibnobi price prediction for 2025 among other years, but all of the values are $0.00. None of the sites we looked at offered a Shibnobi price prediction for 2030.
The small price point of Shibnobi’s token could act as a barrier. Potential holders may struggle to invest when there is a lack of clarity over the token’s price history, as well as rapid trend reversals that are not obviously linked to any on-chain developments.
The future of Shibnobi
Shibnobi has ambitious plans, saying that an exchange, wallet, blockchain and metaverse will be released within the next two years. Even if Shibnobi is able to pull off its roadmap, however, it still has other difficulties to deal with. The tiny price point and the centralisation risks could raise barriers for investors.
In a recent 24-hour reading in July, SHINJA rose 3.4% over a 24-hour period, according to CoinMarketCap. However, CoinGecko reported an increase of 5% but reports it trading down by 44% over the past 30 days. It is therefore exceedingly difficult to see whether or not the token will gain enough momentum to guarantee a spot in the crowded DeFi and metaverse markets.
How many Shibnobi are there?
According to Shibnobi’s website, there is a max supply of 69,000,000,000,000,000,000,000 (69 sextillion) SHINJA.
Is Shibnobi a good investment?
It might be. Shibnobi has plans to release its own metaverse, blockchain, exchange and wallet. However, its token is currently at an insignificant price, so sites are unable to record its price history or make any predictions.
Remember, you should always conduct thorough research before investing in any cryptocurrency.
Will Shibnobi go up?
That is extremely hard to predict. Price prediction sites are unable to make a forecast regarding the future of Shibnobi as the price of SHINJA is so low.
Should I invest in Shibnobi?
It depends. Shibnobi wants to pave the way for the future generation of investors by making a safe and accessible ecosystem of DeFi products. CertiK discovered “major” centralisation problems with its smart contract, but these issues have since been resolved.
Before investing in any cryptocurrency, investors should conduct thorough research and never invest more than they can afford to lose.