Shiba INU is it 'Dogecoin' killer Facts about the Hype

Shiba INU : is it ‘Dogecoin’ killer ? Facts about the Hype

SHIBA INU coins are cryptocurrency meme tokens that users may possess in their millions. 

The currency, which was released less than a year ago, is drawing market attention. But why is that? We’re talking about “SHIBA INU COIN,” a cryptocurrency that trades SHIB and refers to himself as a “DOGECOIN KILLER.” Its value was recently modest, but it skyrocketed once cryptocurrency exchanges like Binance and OKE added it. Chinese traders have made a significant contribution to SHIB’s meteoric ascent. According to CoinMarketCap, “the SHIBA INU COIN has a 24 HOUR transaction volume of more than $ 8 billion and a market capitalization of & 11 billion.”

Experts believe it represents a new breed of bitcoin traders. According to Ben Caselin, “there is now a shift of investors into new cryptos.” Shiba Inu is a symbol. SHIBA INU coins are cryptocurrency meme tokens that users may possess in their millions. Shibaswap, its own decentralised trading platform, aids with the procedure. It is comparable to DOGECOIN.

What exactly is “SHIBA INU COIN“? 

According to David Hsaio, “success of many kinds necessitates some forms of weaknesses.” 

Shiba Inu Token (SHIB), released in 2020, is a decentralised spontaneous community building project. It was inspired by “DOGECOIN” in order to become popular among cryptocurrencies. “Dogecoin Killer” is an ERC 20 compliant coin. This has grown in popularity as “Dogecoin” has grown in prominence. It was also backed by a vast community of individuals on social media platforms such as “REDDIT” and “TWITTER.” Recently, Vitalik Buterin burnt half of the Shibu Inu token supply. When the news of the 40% token burn off spread, prices skyrocketed.

What exactly is Shibaswap

Shibaswap is a decentralised cryptocurrency trading platform that allows Shiba Inu to be exchanged for other cryptocurrencies. 

Several blockchain specialists referred to it as a Safe Place for the easier operation of the exchanging procedure.

Shiba Inu Coin Price Prediction? 

A new Vitalik Buterin highlighted the Shiba Inu currency, and it began drawing the market’s positive forces by a dramatic surge in prices. With a 40% supply burn, the currency saw a significant price increase. Many cryptocurrency specialists are forecasting the coin’s value. According to Digital Coin Price, the price of SHIBA INU might reach $0.00004607 by 2025. According to the Wall Street Journal, the coin’s value has plummeted significantly.

check out : SundaeSwap Analysis, What is it going to Offer ?

Shiba Inu Coin’s current value: 

SHIBA INU COIN has seen great rise in its pricing, such as on May 10 when it was valued at $0.000039, however it has since fallen to $0.000016 as time passes. However, according to statistics, it demonstrated a stunning price increase of 1500%, which piqued the interest of investors.

Financial Consultants: 

Shiba Inu expert opinion 

According to Investorplace.com, “the prices of Shiba Inu coin are rising owing to the branding of cryptocurrencies, but investors are still hesitant to participate in new cryptocurrencies.” According to Walletinvestor.com, “SHIBA inu is not a smart long-term investment.” According to GOV CAPITAL, “the price of Shiba Inu currency will plummet dramatically.”

“The market of Shiba Inu has increased in the recent week or month due to the popularity obtained by meme coins,” according to Hsiao. “The excitement that has been created on the topic of Meme coins is not a financial phenomena, but a social one,” Casein stated. 

According to Coinmarketcap, the value of the Shiba Inu currency is $US0.0003026, up from $0.0000oo6 in mid-April. It has gained 1305 in 24 hours and is competing with Dogecoin. Streeter stated, “It seems to be a stiff competitor to Dogecoin at the moment because it is so new.” It will update the history of Dogecoin, which began as a joke and has since evolved into a money-making engine.

Features 

1. Volatility: Due to its recent inception, the cryptocurrency trading platform “SHIBA INU COIN” is very volatile, according to BINANCE. 

2. Anonymity: The Shiba coin platform’s proprietor is an anonymous individual known as “RYOSHI,” and no other members are identified. 

3. Lack of Use Cases: Experts believe that “SHIBA INU COIN is more manipulative and cynical assets.” 

Compared to Shiba inu currency, Dogecoin offers several advantages. Shiba Inu coins have fewer applications. 

4. ERC-20 Token Standard: It is an ERC-20 token standard that is widely used by ICOs and crowd financing firms. 

5. NFT support: The platform has asked the artists to design NFT, which will be utilised as Shiba’s future product.

Shiba Inu Coin Influencers 

1. On May 7, ELON MUSK announced on Twitter that he will purchase a SHIBA PUP. 

2. On May 14, ELON MUSK TWEETED THAT HE WILL PURCHASE A SHIBA INU DUE TO ITS RESISTANCE. 

3. CHARLES XU BIQUN, a Chinese billionaire, highlighted Shiba in several posts. He was named Doge No.2 All-Time High on May 8. May Almighty bless you.

Some Bonus Facts :

Conclusion: 

Because it is so new, “SHIBA INU COIN” is gaining popularity on a daily basis, and its velocity is unrivalled. As we all know, it is dubbed the “Dogecoin Killer” and, sure, it is a serious competitor to Dogecoin. However, predicting the future of the shiba inu is difficult since it is influenced by a variety of circumstances, including the price of dogecoin. The success it has achieved in such a short period of time cannot be conveyed in words, and it will be fascinating to see how it develops in the future.

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Written by
Sourav Suman
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Sourav Suman

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