Shiba Inu is a memecoin, which effectively means it was inspired by a meme or an ‘internet joke’. Its growth has been attributed to the deliberate link to Elon Musk’s favourite crypto, Dogecoin, which led to viral growth and attracted over a million holders, backed by a huge community campaign.
It is traditionally very difficult to attribute value or make accurate price predictions for meme-coins like Shiba Inu, as their growth is very much linked to the amount of hype the project can generate. Shiba Inu generated incredible hype in 2021, but with the price waning, the big question is can that hype resume to lead to new highs in 2022?
The website CryptoPredictions.com expects Shiba to return to its previous highs, with a price prediction of $0.000084 in Q1 2022, and continuing to grow to $0.000088 by Q3 2022. They forecast the coin potentially losing another zero, reaching $0.0001 by 2023, which would mean 163% growth over the next 12 months for Shiba Inu.
Another breakout project from 2021 is EverGrow Coin. With this project it is perhaps easier to attribute true fundamental value, closer to that of a company stock like Tesla or Apple. The team behind EverGrow, a group of experienced finance, blockchain and marketing experts, have been very clear that EverGrow “is not a meme-coin”. They have a suite of planned utilities, including a Crypto Wallet and Exchange, Marketplace and Lending platform, games and content creation platform, Crator, all due to launch in 2022. These utilities will bring in significant revenue which will be used to generate ‘rewards’ for holders in the form of Binance pegged USD, a regulated stablecoin pegged 1-1 with the USD. Within just 10 weeks of a launch, EverGrow Coin’s 117,000 holders have already received their share of over $30 million in rewards – a record breaking achievement for such a young project.
Analysts have calculated that based on the current market cap of just $300 million, those investing $10,000 today would achieve rewards of $750 per day should EverGrow’s volume reach $30 million per day. EverGrow’s record daily volume exceeded $60 million, but is currently averaging around just $1 million, meaning projects like Shiba Inu and Doge are getting over 2000 times higher daily volume. Many believe in 2022 EverGrow will become a top 20 crypto, so the idea of $30 million in daily trading volume is very achievable, with the potential for a $1 billion in daily volume being very possible if the team delivers on their goals.
Even at just $30 million daily volume, that $10,000 invested today would see $273,750 per year in rewards, and that is not accounting for any investment growth. With returns at that level, by applying traditional investing valuation techniques, EverGrow could well be the first project to 100x in 2022, meaning a 10,000% increase in price for holders in 2022, in addition to those USD rewards. This could see EverGrow Coin removing 2 zeros in 2022, with a potential price prediction of $0.000067 from today’s $0.00000067.
A coin that bridges the gap between utilities and meme-coins is Safemoon. The project exploded in 2021, accruing over 1 million wallet holders according to BSCScan thanks to a huge effort from the Safemoon community, labelled ‘The Safemoon Army’.
Having reached their highs back in April, Safemoon has steadily fallen in value over the last 8 months, from $0.00014 to $0.000014, a 90% fall. Whilst price currently shows no signs of recovery from a technical point of view, we shouldn’t forget that the team behind Safemoon are working on launching their own blockchain in 2022. If they manage to do so successfully then this very much change Safemoon’s price predictions for 2022.
www.priceprediction.net forecasts Safemoon reaching a maximum price level of $0.00000260 during 2022, which would be an 85% increase on their current level. Since launch, Safemoon have had a turbulent time, with delays in the launch of their Wallet, and several key team members leaving the project. Safemoon, however, remains incredibly popular with a huge number of investors, and if they can keep faith with the project, and the team begin delivering on some of their promises, Safemoon could still surprise crypto investors in 2022.
Subscribe to News Reportz for Latest Crypto Market News and Reports.
Company: News Reportz
Email: [email protected]