SpookyShiba price prediction: What is SpookyShiba?

Will SpookyShiba deliver a trick or a treat for investors?

SpookyShiba logo                                 
SpookyShiba aims to combine dogcoins and NFTs – Photo: Spookyshibabsc.com
                                

Contents

More and more meme coins are coming on to the market, and SpookyShiba is yet another. What is SpookyShiba? How does SpookyShiba work? What is SpookyShiba used for? What is the SpookyShiba price prediction? Are SpookyShiba investors going to get a treat in the future, or is the coin’s forecast looking scary?

SpookyShiba explained

Dogecoin is the big daddy dog when it comes to a certain sort of cryptocurrency. The rise of so-called dogcoins over the last year or so has been one of the biggest stories in the world of crypto. Many are now trying to get in on the action, in effect making parodies of a parody or, in some cases, making parodies of parodies of a parody. SpookyShiba is one of the many dog-related cryptos to follow in DOGE’s wake, but what does it offer? Well, for starters, there’s its horror theme.

The coin was launched around Halloween and its website drips with spooky imagery. More importantly, though, it offers a link-up for people who collect non-fungible tokens (NFTs). The coin’s white paper offers anyone who holds SpookyShiba worth $100 the opportunity to take part in daily and weekly lotteries, which give them the chance to win one of 111 NFTs. Holding one of the NFTs enables them to collect more SpookyShiba, depending on which NFT they win. The people behind the Binance Smart Chain-based token plan to buy a plot in the metaverse – although they do not say which particular metaverse they mean – and build a community lounge for users. 

As far as the SpookyShiba token itself goes, we need to point out that it operates with a 10% transaction tax, with half of that going to a liquidity pool and the other half going to a dedicated crypto wallet. The coin was founded by crypto enthusiast Lowgun Paul, who runs the system alongside a user called Jamie.

SpookyShiba price history

Now, let’s look at the SpookyShiba price history. Although past performance is no indicator of future results, it is still useful to look at the history, so we can contextualise any SpookyShiba coin price prediction we find. It is also worth noting that, as SpookyShiba has only been traded for less than three months at the time of writing, the price history is somewhat short. 

When SpookyShiba started trading on 1 November 2021, it was worth $0.000000000002, or two ten-billionths of a cent. The cryptocurrency market was undergoing something of a bullish phase at this time, so it was only natural that a newly launched coin would get caught up in the excitement. By 6 November, it had dropped a zero and was trading at $0.00000000001, before rising slightly to $0.000000000011 the following day.

There was a drop back, though, and SpookyShiba was operating at $0.000000000007 by 9 November. The price hovered between these marks for a little while, with it reaching $0.00000000001 on 12 November. The market then started to atrophy, with concerns about the Omicron variant of Covid-19 beginning to have an impact on trader confidence. By the end of November, SpookyShiba was trading at around $0.000000000002 – more or less where it was when it launched a month earlier.

December was also a tough time for the token, but once Christmas was out of the way, it started doing better, reaching $0.000000000009 on 26 December, before dropping back down again to close the month at $0.000000000004. While the markets continued to be lethargic in January, SpookyShiba was one of the tokens that bucked the trend.

On 11 January, it moved up one decimal point to trade at $0.000000000013, seeing the start of a mini bull run that culminated in it reaching an all-time high of $0.000000000028, or 28 billionths of a cent, on 15 January. After that, it slid down once more, although it was trading at a respectable, by its standards, $0.000000000011 on the afternoon of 24 January. This was all the more impressive for it having stood at 0.000000000007 the day before, indicating a rise of more than 50% over the course of 24 hours or so.

At this time, the coin had self-reported 484,840,206,120,000,000 (just under 485 quadrillion) tokens in circulation, out of a maximum supply of 1,000,000,000,000,000,000, or one quintillion. If this is accurate, that would give it a market cap of around $5.485m, making it the 3,014th largest crypto by that metric.

SpookyShiba price history
SpookyShiba price history - Credit: Currency.com

SpookyShiba price forecast

With SpookyShiba being such a new coin and a single token being worth so little, it is difficult to find a noteworthy SpookyShiba price prediction, compared to an older, better established, token. Long-term crypto forecasts are also very often wrong, and that can be especially true when it comes to a token that has not been trading for long. The furthest into the future that predictors are going at the moment on SpookyShiba is 2029, which means there is no SpookyShiba price prediction for 2030 or beyond. 

DigitalCoinPrice has a SpookyShiba price prediction for 2022 that sees it end up trading at around $0.00000000001, or one billionth of a cent, this year before rising to $0.00000000002. There will be some stagnation, the site says, and the coin will continue to operate at around the same price, with the SpookyShiba price prediction for 2025 coming in at the same mark and staying at that level until 2027, when it will reach $0.00000000004. SpookyShiba will continue to trade at around that mark until 2029, when it will reach $0.00000000005.

WalletInvestor has a SpookyShiba forecast that sees it hitting $0.000000000051 (51 billionths of a cent) in a year’s time, before going up to reach $0.000000000183 in early 2027. These are the only forecasts to cover this particular token, although it is possible that more may be added in the future.

Final thoughts

SpookyShiba is still a pretty new coin. This means that, while it has the potential to shoot up and become a mainstay of the crypto world, it could also disappear without trace.

Secondly, the dogcoin market is starting to get crowded, so it will be interesting to see what SpookyShiba can do to stand out from the crowd, other than its vaguely horror-themed branding. Whether the connection between two of the hottest crypto trends of 2021, dogcoins and NFTS, will see it gather traction is something we need to wait for.

We also need to see whether SpookyShiba can make good on the various promises it has made. People who want to invest in a new meme coin need to look at what is going on and note that, in the world of cryptocurrency, if something looks too good to be true, there is a very strong chance it is.

SpookyShiba operates in minuscule fractions of a cent. While this should not be too much of a problem, because pretty much every dogcoin other than DOGE trades below $0.01 and it would not have to get too high for it to deliver considerable returns, its incredibly low price could put some potential investors off. Regardless, we will have to see whether this coin can continue to deliver, or whether it will fall off and be forgotten. 

FAQs

As of 24 January 2022, SpookyShiba had a self-reported 484,840,206,120,000,000 tokens (just under 485 quadrillion) in circulation out of a maximum supply of 1,000,000,000,000,000,000 (one quintillion).

It might be. The truth is, though, that the token is still in its early stages, so we don’t yet know if it will catch on. If it does, it might be, but if it doesn’t, you could lose a lot of money. You have to do your own research, remember prices can go down as well as up, and never invest more money than you can afford to lose.

It could do, although we will have to see how the token continues to develop. It is also worth noting that, at the time of writing, the crypto market was going through a bearish period, so any significant upwards momentum may not happen straight away. You should be aware that prices can go down as well as up.

Only you can answer this question. Before you do so, you should do your own research, remember prices can go down as well as up, and never invest more money than you can afford to lose.

Further reading

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