SHIBA INU COIN: The “DOGECOIN KILLER”
SHIBA INU coins are meme tokens of cryptocurrencies and users can hold them in millions.
The coin which was launched less than a year is attracting the market. But why? We are talking about “SHIBA INU COIN” which trades SHIB and regarded himself as “DOGECOIN KILLER”. Recently its value was low but it rose tremendously when cryptocurrency exchanges like Binance, OKE added it. There is a major contribution of Chinese traders in the phenomenal rise of SHIB. According to CoinMarketCap "24 HOUR trade volume of SHIBA INU COIN is of above than $ 8 billion and market capitalization of & 11 billion.
According to experts, it is representing the new group of cryptocurrency traders. Ben Caselin said,” Currently, there is a movement of investors towards new cryptos” Shiba Inu is a token. SHIBA INU coins are meme tokens of cryptocurrencies and users can hold them in millions. Its own decentralized exchange platform Shibaswap facilitates the processing. It is similar to DOGECOIN..
What is “SHIBA INU COIN”?
According to David Hsaio "Success of different types need some types of vulnerabilities.”Shiba Inu Token (SHIB), launched in 2020 is an experiment in decentralized spontaneous community building. It was created by taking inspiration from “DOGECOIN” to make it popular among cryptocurrencies. It is an ERC_20 compatible known as “Dogecoin Killer”. This has gained popularity due to the increasing popularity of “Dogecoin”. It was also supported by a large community of people on social media like “REDDIT” & “TWITTER”. Recently, Vitalik Buterin has burned the half supply of Shibu Inu as the news of 40% token burn off went viral there was a tremendous rise in prices.
What is Shibaswap?
Shibaswap is the decentralized cryptocurrency exchange platform that allows the exchanging process of Shiba Inu from other cryp[tocurrencies.Various blockchain experts described it as a Safe Place for the smoother function of exchanging process.
Shiba Inu Coin Price Forecast?
A new Vitalik Buterin highlighted the Shiba Inu coin and it gets started attracting the bullish forces of the market by a sudden increase in prices. With a burn of 40% supply, the coin witnessed a major price rise. Many cryptocurrency experts are making predictions of the coin. According to Digital Coin Price” SHIBA INU price can increase up to $0.00004607 by 2025. According to the Wall street journal, there was a major decline in the prices of the coin.
Current price of Shiba Inu Coin
SHIBA INU COIN has witnessed tremendous growth in their prices like on May 10 it was valued at $0.000039 but after that, it started declining and came to $0.000016 as time passes. But according to data, it showed a remarkable growth of 1500% in its prices which attracted the minds of investors &
Expert opinion on Shiba Inu
According To Investorplace.com” The prices of Shiba Inu coin are gaining due to the branding of cryptocurrencies however investors are not yet ready to invest their money into new cryp[tios” According to Walletinvestor.com” SHIBA inu is not a good option for long run investment” .According to GOV CAPITAL” There will be a major fall in the prices of Shiba Inu coin”.
According to Hsiao” The market of Shiba Inu has expanded in the recent week or month due to the popularity gaining by meme coins.” Casein said,” The hype which was created on the issue of Meme coins is not a financial phenomenon but a social one.”
According to Coinmarket cap, The value of the Shiba Inu coin is at $US0.0003026 in comparison to its mid-April value which was $0.0000oo6 it has gained 1305 in 24 hours and giving competition to Dogecoin. Streeter Said” IT appears to give tough competition to Dogecoin Currently it is so young”. It will revise the history created by Dogecoin which came as a joke and become Money making machine.
Some are given below:
1. Volatility: According to BINANCE,Crypto exchange platform “SHIBA INU COIN is highly volatile due to its recent launch.
2. Anonymous persons: Shiba coin platform owner is an anonymous person that is known as “RYOSHI” and no other members are named.
3. Lack of Use Cases: According to experts “SHIBA INU COIN is more manipulative and cynical assets.’Dogecoin has many merits in comparison to Shiba inu coin. Shiba Inu coin has fewer use cases.
4. Token Standard: It is an ERC-20 token standard that is quite popular ICOs and crowd funding companies.
5. NFT endorsement: The platform has invited the artists to architect NFT which will be used as Shiba's future product.
Influencers of Shiba Inu Coin
1. On May 7 ELON MUSK TWEETED THAT HE WILL BUY A SHIBA PUP.
2. On May, 14 ELON MUSK TWEETED THAT HE WILL BUY SHIBA INU BECAUSE OF ITS RESISTANCE.
3. CHARLES XU BIQUN, Chinese Billionaire mentioned Shiba in his multiple posts. On May 8 he said it as Doge no.2 All-time high. May Almighty.
“SHIBA INU COIN” is gaining popularity day by day as it is so young and its momentum is incomparable. As we know it is known as the “dogecoin killer” and yes is giving tough competition to Dogecoin. But it is difficult to decide the future of shiba inu as it has effected by multiple factors which also include the prices of dogecoin. The success which it gained in so little time cannot be described by words and it is really interesting to see its future trends.
Edited By Team CLIQTAX
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