Topics Memes
Bybit Learn
Bybit Learn
Feb 23, 2022

Is Shiba Inu a Good Investment: SHIB to $0.01, or Just Another Meme Coin?

Is Shiba Inu a good investment for crypto speculators? This question has been asked countless times despite the meme coin Shiba Inu (SHIB) being available for trading for less than two years. Yet within months of its launch, it was hard to ignore. SHIB saw impressive growth last year, with the price reaching an all-time high (ATH) of $0.000086 in October 2021 — which is over 150,000 times its starting price of $0.000000000056. 

The past few months have been a tough one for cryptocurrencies, but SHIB has managed to bounce back, rising 50% in the first week of February 2022, after slumping over 60% from its all-time-high in October.

The main question now is: Will this popularity continue? Is this just another cryptocurrency bubble that will eventually burst, or is Shiba Inu a good investment that will continue to grow in value? In this article, we’ll take a closer look at the SHIB token, its future road map, factors affecting its price — and whether it’s worth investing in.

What Is the Shiba Inu Token? 

Before asking is Shiba Inu a good investment, let’s first run through the origins of the memecoin. Shiba Inu (SHIB) is a decentralized ERC20 token launched on the Ethereum network as a spin-off of the popular meme coin, Dogecoin. Meme coins such as Dogecoin and Shiba Inu derive their value based on association with a meme— in both of these cases, the Japanese Shiba Inu dog breed — rather than utility. The token wasn’t originally designed to solve real-world problems. 

Like other meme coins, Shiba Inu began as a parody in August 2020. It was created by an anonymous person or group known by the name Ryoshi

History of Shiba Inu

Shiba Inu launched with a maximum supply of 1 quadrillion SHIB tokens, which made its price lower than other cryptos with similar market caps. The developer(s) locked half of the minted Shiba tokens in Uniswap to reward liquidity providers to SHIB pools on the DEXDEXs, or decentralized exchanges such as Uniswap, use an automated market maker system in which users can deposit asset pairs into liquidity pools so that other investors can trade them. The outstanding 500 trillion tokens were sent to Vitalik Buterin, the co-founder of Ethereum, to raise awareness with the hope that he wouldn’t sell them (which would render the token worthless). 

SHIB’s excellent run in 2021 meant that Buterin’s holdings were now worth billions of dollars. He gifted 20% of his Shiba Inu tokens (worth over $1 billion) to the COVID Crypto Relief Fund in India, and to another unnamed charity. This gesture, the largest single crypto donation ever made, rocked the crypto world, and established some legitimacy for SHIB. He burned the rest, which helped draw plenty of attention to the meme coin. 

After rallying to dizzying heights in October 2021, the token has dropped by 70% at the beginning of 2022. However, while many other cryptos still struggle, SHIB has rebounded remarkably, retracing 50% by the first week of February. 

Rise of the SHIBArmy

SHIB’s resilience in the face of the turbulent cryptocurrency market — despite its lack of utility — is not surprising to keen industry watchers. The meme token is fueled mainly by the hype from its legion of passionate fans, known as the SHIBArmy. These online warriors are dedicated to a singular purpose: promoting the token on social media with the doggedness of an elite fighting force. 

The Shiba Inu Twitter account ballooned to 2.6 million followers within a year of launching. This figure is above that of more prominent and established cryptos such as Ethereum and Solana, with 2.1 million and 1.3 million followers, respectively. While Dogecoin is still ahead with 2.9 million followers, it’s been around since 2013.

This committed fan base has ensured that SHIB remains very much in the public eye. Its survival in the bearish crypto market is a testament to the SHIBArmy’s capability to capture the public imagination and popularize the token. 

SHIB Roadmap

Every smart investor considering if Shiba Inu is a good investment knows that a solid project has an ambitious roadmap. Shiba Inu is a meme coin, and was initially designed to rival the popularity of its inspiration, Dogecoin. But this is about to change. Recently, the team behind the token has been developing new projects with it. The first one is ShibaSwap, a DEX launched last year.

There are plans to venture into the metaverse with Shiberse. The Shiba Inu team is also working with Activision to develop a play-to-earn game that will use non-fungible tokens (NFTs). NFTs are unique assets represented on a blockchain that cannot be replaced, and may represent real-world objects such as real estate or artwork.

More recently, and perhaps the most ambitious, is the Shibarium, a Layer 2 blockchain built on the Ethereum blockchain by Singaporean blockchain company Unification. Shibarium will provide support for fast and low-cost transactions within the SHIBA ecosystem when it launches. 

Hopefully, these projects will propel SHIB from a joke to a significant player with multiple use cases in the crypto space.

Is Shiba Inu a Good Investment for the Future?

Shiba Inu started life as a meme coin and as a joke. However, the Shiba Inu team has lined up several projects to push this “Doge Killer” to leave the meme token pool and graduate to a more useful digital asset. Hopefully, this will make SHIB a more sustainable investment. Here’s a list of the primary projects which are in the works to bolster the Shiba Inu ecosystem and help investors decide if Shiba Inu is a good investment. 

Shiba Inu Metaverse Codenamed “Shiberse”

As one of the bigger news impacting the debate of whether Shiba Inu is a good investment, Shiba Inu developers announced their metaverse project in a February 8, 2020 tweet. Codenamed “Shiberse” in the interim, the project offers plots of virtual “Shiba Lands,” which users can buy on the upcoming metaverse using LEASH tokens. 

Metaverses are blockchain-based virtual worlds where people can interact digitally as they would in the real world. They’ve become popular in recent times and are one of the biggest narratives in crypto. 

The Shiba Inu developers are working on a queue system for land sales, in which users can get a place in the queue based on their LEASH holdings. The idea is to prevent bots from buying up land early at low prices and selling later at higher prices to the SHIB community. 

More Partnerships That Boost SHIB Visibility

Shiba Inu has exclusively partnered with Welly, a Naples-based burger restaurant which offers healthy food choices, a value that Shiba Inu developers claim to share. Although currently a single-store restaurant, Welly’s has set its sight on global expansion, aided by its partnership with the widely popular SHIB token. 

The partnership has seen Welly fully transformed into a Shiba Inu-themed restaurant, complete with a rebranded logo reflecting the Shiba Inu persona and a new tagline, “I’m Ryoshi. We eat well.” 

Also, they’ll start accepting SHIB as a means of payment. It gets better: The collaboration will allow users access to related NFTs, which owners may be able to sell for significant profits as the partnership project develops further. 

Members of the Shiba Inu community will also have a say in managing the joint enterprise through the Doggy DAO — the in-house decentralized autonomous organization. 

Launching of TREAT Token

Another part of the ambitious road map for Shiba Inu is the planned release of the TREAT token. This is their fourth token, after releasing SHIB coin, LEASH and BONE. Details about the new tokens haven’t yet been made public. 

Notable Achievements for SHIB

For a meme coin without any use cases, SHIB has achieved notable milestones. Some highlights include:

More than 1,000,000 SHIB-Holding Wallets

In November 2021, the number of wallets holding SHIB passed the 1 million mark, according to data from CertiK. This landmark was announced in a celebratory tweet congratulating the ShibArmy. The news triggered another rally of the meme coin, and by November 25, SHIB had risen by 33%.

Ability to Buy SHIB from Major Exchanges Like Bybit and Binance

Getting listed on new exchanges goes a long way toward determining a digital asset’s success. Listings make the token more accessible, since more investors can easily buy and sell them. This generally has a positive impact on the token’s valuation.

Top trading exchanges including Binance, Bybit, Huobi, Coinbase, Gemini and FTX have listed the SHIB meme token. Getting listed on these trading platforms is no easy feat, and for good reason. 

Listing a scam token would severely impact the credibility of an exchange, and exchanges generally conduct thorough due diligence to check that tokens aren’t scams. However, just because a token is listed on an exchange doesn’t guarantee its safety. 

The token also needs to be popular. A new token usually has to have a successful ICO (initial coin offering) before being listed. If the token isn’t sold out, an exchange might be wary about listing it because it signals low demand on the secondary market. 

ShibaSwap Exchange

The ShibaSwap exchange is an in-house decentralized exchange of the Shiba ecosystem. Launched in July 2021, ShibaSwap — like UniSwap and other DEXs — allows users to trade tokens directly without intermediaries or central authorities. In this way, it differs from centralized exchanges such as Binance and Bybit. 

ShibaSwap’s exchange runs on Shiba Inu’s native token, SHIB, and their other ERC20 tokens — BONE and LEASH. BONE is the governance token of the Shiba ecosystem, and features prominently on the Doggy DAO. LEASH, nicknamed “Doge Killer,” was initially launched as a rebase token to track the price of Dogecoin, but is now independent. It serves as the main store of value for Shiba Inu’s investors. 

Apart from trading or swapping Shiba Inu ecosystem tokens — SHIB, LEASH and BONE — ShibaSwap allows users to provide liquidity (‘digging’) and get rewarded with ShibaSwap liquidity pool tokens. Users can also stake (“bury”) the tokens and earn high interest paid in BONE tokens. 

ShibaSwap also serves as a marketplace for the popular Shiboshi NFTs.

Shiboshi NFTs

Shiboshis are 10,0000 unique, pixelated Shiba Inu dog cartoons, represented as non-fungible tokens (NFTs). Each of these Shiboshis has different traits and varying degrees of rarity. 

The different traits — such as laser eye (useful for long-distance attacks) — will be incorporated into the proposed Shiba Inu game. 

Users can buy and sell Shiboshis on ShibaSwap with zero fees. Shiboshis are also available on the OpenSea marketplace. 

Upcoming NFT Project

With the popularity of the newly launched Shiboshi NFTs (they sold out in under one hour) — and the corresponding positive impact on the Shiba ecosystem — the Shiba Inu teams are planning to deploy more NFTs. Although the details are sketchy, the NFT launches will likely follow the same playbook used in the successful launch of Shiboshis, with plenty of publicity buildup beforehand. 

Doggy DAO

DAOs, or decentralized autonomous organizations, are communities of like-minded individuals created with an objective and collectively owned and governed by them without a centralized authority. 

According to the Shiba Woof Paper, Shiba Inu’s native Doggy DAO will launch sometime in 2022. As the next logical step in expanding the growing Shiba ecosystem, the Doggy DAO will allow users to guide the future trajectory of Shiba Inu through community governance.

Based on their BONE token holdings, community members will have voting rights that they can use to influence decisions on crypto projects and trading pairs, and to make proposals for consideration. The more BONE you hold, the more power you have to influence future endeavors in the Shiba ecosystem. 

To prevent crypto whales (investors who tend to buy tremendous amounts of tokens all at once) from gaming the system, the Shiba Inu developers intend to implement a guardians 6/9 wallet to make the final decisions on new trading pairs.

Two Upcoming Shiba Inu Games

In December 2021, Shiba Inu signed an agreement with Australian game developer PlaySide Studios and ZipProof’s William Volk to work on a multiplayer collectible card game. 

The game will feature 1,000 SHIB-inspired cards and will launch as a blockchain NFT title. The Shiboshi NFTs will also play a definitive role in enhancing gameplay.

There will be two versions of the game— a classic mobile game for casual players, and the play-to-earn, NFT-based game. 

The upcoming games have generated considerable buzz in the NFT gaming space. However, avid gamers might have to wait for some time. The game developers project they could become available to the general public in July 2023.


Part of the expansionist agenda of the Shiba Inu community is a dedicated marketplace known as ShibaNet. It could prove to be one of the developments that will significantly impact SHIB’s prospects as a valuable cryptocurrency when asking yourself is Shiba Inu a good investment. 

The upcoming project is a decentralized marketplace which will allow users to freely buy and sell digital assets, products and services using resources within the Shiba Inu ecosystem. 

SHI is a proposed stablecoin pegged to $0.01 to make it even more stable. It’s going to be the primary means of exchange on ShibaNet. The Shiba Inu development team ambitiously aims to make SHI a global currency, acceptable everywhere. 

ShibaNet will run on the much-awaited Layer 2 Shibarium blockchain. This means it will avoid Ethereum’s high gas fees and enable fast transactions.

The Bottom Line: Is Shiba Inu a Good Investment?

So, is Shiba Inu a good investment? It’s a little complicated. On the one hand, it’s clear that SHIB has seen some impressive growth in recent months, and there’s no reason to believe this trend won’t continue. But with such high volatility in the cryptocurrency market, it’s impossible to say for sure whether the value of SHIB will continue to grow, given its status as a meme coin that’s devoid of practical use cases.

A more significant factor which will determine the future of SHIB is the myriad of projects that the Shiba Inu dev team has lined up. These projects and schemes are ambitious. They aim to move SHIB from a cryptocurrency associated with online jokes and fueled by hype to a more utility-based asset. When these plans go through, there’s an excellent chance that the former meme coin will now earn its rightful place as a solid digital asset worth keeping an eye on.

By taking all this into account when discussing is Shiba Inu a good investment, one thing’s for sure. The future certainly looks busy and promising for SHIB.