Understanding the Dogecoin Killer: The Shiba Inu (SHIB)
A special name: at least for a digital coin, you agree. Yes! For all good reasons, as unique properties are associated with this unique name. The distinctive name is related to the mascot of a Japanese breed of dog called the Shiba Inu, hence “SHIB”.
So the most important property of a pet, “loyalty”, is also marked for all its investors. Shiba Inu is a completely secure and decentralized meme token, an ERC-20 token variant. In a way, it combines all the significant features of Ethereum, Bitcoin and Dogecoin in a fusion as one in Shiba Inu (SHIB).
Shiba Inu Network: Let us dig deeper
Shiba Inu is the creation of Ryoshi who started with a mission to champion a crypto asset for all its users inspired by the cute theme of the Shiba Inu dog breed and mix the benefits of other major cryptocurrencies such as bitcoin, ethereum, dogecoin and more. The company is the first to be listed and incentivized on ShibaSwap, a proprietary decentralized exchange.
A crypto-asset addresses all the concerns of an investor or trader in the market – be it availability, speed of transaction, security for anonymity or great value for money invested in the future. It can be accessed using a computer, smartphone or website without much skill or expertise. It also addresses the daily needs of users, such as buying anything using credit cards, such as in a supermarket, or buying anything through an online wallet.
An exemplary benefit of the Shiba Inu cryptocurrency is that it can be used to trade/exchange between and with Bitcoin or fiat currencies. Apart from that, huge security-laden features are also available. Shiba Token also gives its users the benefit of custodianship of their free wallets and even they can top up their balance.
Traders benefit from getting SHIB network on all weighted cryptocurrency exchanges like Coinbase, Binance etc. They can convert SHIB to almost any other coin. It also has the native name of ShibaSwap decentralized exchange for buying Shiba Inu.
SHIB’s presence can be seen in the mobile application, which is available in many different languages, including Chinese, German, French, Spanish, Russian and many others. This site is packed with features like Open an account in three easy steps – Get a wallet – Get some SHIB coins – Use your SHIB and stay tuned, providing all the latest news and information about the platform so you can make informed investment decisions.
You can also store your SHIB crypto in a mobile wallet. Buying Shiba Inu on the open market ensures a fair distribution of SHIB and the open market also ensures a fair and full distribution of new coins.
At the end of November 2021, Giant Newegg announced the acceptance of the Shiba Inu token as a payment method. The expected impact on the Shiba Inu target price is considered positive. At the same time, Shiba Inu will no longer be limited to being a meme coin like Shiba Inu, following the announcement of Oshiverse’s own meta version of Shiba Inu. This token is expected to gain attention from investors.
Some Twitter posts from CoinMarketCap reveal that crypto investors have shown a lot of interest in buying Shiba Inu coin in 2021, making it the most watched coin on the platform. The rising popularity may positively affect the Shiba Inu forecast as SHIB may reach a record high with the current market capitalization strategy. The market capitalization reached a new high on the same day SHIB launched its own line of NFT tokens.
Shiba Inu SHIB Community: Corporate Initiative
Shiba Inu does a lot of community work, creating partnerships and alliances at the non-profit level. Native token exchanges drive the whole process with other platforms generating more value for new businesses and corporate partners looking for momentum in their ecosystem. This philanthropic contribution from SHIB comes as an aggressive community initiative and calls for more consistent participation from other crypto developers as well.
Shiba Inu (SHIB) Price History and Technical Analysis
Since its debut on crypto exchanges, the price of Shiba Inu has only increased without sudden spikes or downward spirals until it reached its all-time high on October 28, 2021. Bulls had a strong hand until profit-booking sentiment hit SHIB. market. Like any other cryptocurrency, the Shiba token is vulnerable to market fluctuations and is highly volatile.
Shiba Inu Coin Price Prediction
However, since 2021, the coin has gradually increased, starting at $0.0000000001. Competing with other crypto rivals, SHIB only went on a smooth ride upwards, showing satisfactory if not promising trends until it finally stabilized at $0.00000001 by February 2021, even amid market ups and downs and pandemic setbacks. SHIB followed an uptrend in the beginning with several record highs until reaching an all-time high of $0.00008845.
After SHIB reached its ATH, the bulls overcame the profit-booking sentiment and the price began a steady downtrend until today. The decline was so strong that the price of SHIB lost more than half of its value in just 3 months. Not only that, the current Shiba Inu price is very close to its previous price level from where the uptrend started.
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Due to regulatory changes in US Fed rates, the recent market crash has made it difficult for SHIB prices to bounce back or even start an uptrend. According to our SHIB price forecast, the only good thing is that investors and traders may see an opportunity to buy the coin due to lower prices.
Shiba Inu: Market sentiment
The current price of Shiba Inu is around $0.00001245 at the time of writing, with a total circulating supply of 549,063,278,876,302 SHIB. The 24-hour trading volume of this cryptocurrency is around $502,543,267; in terms of market position, Shiba Inu’s market capitalization reached $6,834,755,782.
Shiba Inu price today is 2.78% higher than yesterday. Let’s explore the opinion of market experts on Shiba Inu price prediction.
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Our Shiba Inu prediction is based on technical analysis and past performance of the coin. Based on the market state of digital coins, traders should do their own research to evaluate their own risk involved before making any cryptocurrency financial decision or prediction.
