Shiba Inu’s prospects for 2022 look good, according to data from website CryptoPredictions. Binance Coin is predicted to be range-bound in the new year.

The cryptocurrency market started the New Year as a slow and dull trading day, however the predictions and expected market performance for the entire year look quite bright. A slightly bullish trend signal is coming in from various market traders.

Coinmarketcap.com data showed that there were about 16,238 crypto tokens and about 451 crypto exchanges as of January 1, 2022. The combined market cap of all these tokens has already reached $2.21 trillion currently.

There were several attempts by government authorities to, directly and indirectly, control this market, but once again the market has proven that it goes by its own rhythm. This is evident from the 300 million strong global crypto account holders with India alone having 100 million users despite Reserve Bank of India (RBI) Governor Shaktikanta Das, expressing deep concerns regarding buying of cryptocurrencies.

Shiba Inu was created by an anonymous user, “Ryoshi”, sometime in August 2020. It was trading at $0 a year ago and now it is trading at $0.00003351. The price was intentionally kept at $0 so that even a cent increase in price benefits users. The price moved by 48,722,655.73 per cent to be precise, so benefits have been pretty large for its owners. Analytics Insight reported that even if someone had invested just $1 in SHIB they would be sitting on thousands of dollars of profit by now.

According to CryptoPredictions.com, Shiba Inu is expected to deliver double-digit returns to its investors for most of the year. The minimum price is expected to be $0.000038, while the maximum price that it could touch is $0.000065. Read more about it here.

Shiba Inu’s creators have started to build their own metaverse called “Oshiverse” and are also trying to jump into decentralized gaming and non-fungible tokens (NFTs). It would be interesting to see if these developments do pan out. If they do become a success, then a massive demand for SHIB tokens is expected, which could have more effect on its price than the latest Christmas burn event.