You should be aware that Shiba has joined the list of coins that are being watched daily by cryptocurrency traders around the world. This shit coin as it was considered, gave the world a shocker when it gained traction of over 400% a few weeks back. Who would think SHIB as it is popularly known could perform such magic. The analogy that comes to mind is “zero to hero”. Whether or not you missed out on Shib, you might want to know the reason for such a tremendous performance. So great a performance that after the rise, the powers that be in the crypto world couldn’t bring it down. SHIB stood strong against all odds (surpassing the popular doge token). As you read on, you’ll be given proper details of this magic token. Enjoy your read
What Is Shiba Inu
Shiba Inu, also popularly known as SHIB, is a cryptocurrency, a token that is named after a Japanese dog breed that also has the name Shiba Inu. This Shiba Inu dog breed is said to have originally come from the Chūbu region of Japan. This dog breed is said to be a medium-sized dog that is alert and smart. Notably, the Shiba Inu token has proven to be alert and smart. It is worthy of note that it is this same dog breed that is represented on the doge coin. The Shiba Inu token was said to have been named the doge coin killer. Good enough it has answered to its name.
The Shiba Inu token is graded with meme coins. Let me ask a question, do you know what a meme coin is? If you don’t know, I’ll tell you. A meme coin is a coin that is formed from a meme, an internet meme to be precise. The first meme coin to be formed is the doge coin, the coin that Shiba Inu token rises to displace. The bottom line, Shiba Inu token is a meme coin that originated from the Japanese dog breed.
History Of Shiba Inu
We earlier disclosed that the name Shiba Inu was coined by a Japanese dog breed. It is said that the coin was formed by an anonymous group of persons, a person called “Ryoshi”. Funny as it sounds, it is not yet known if it was a person or group of persons that were responsible for the creation of the token. History has it that the token was created in August 2020, just 1 year and 2 months ago.
The history of the Shiba Inu token isn’t much. After its creation in August 2020, Vitalik Buterin donated SHIB which was worth more than $1 billion (this amounts to over 50 trillion SHIB) to India. This donation was made on the 13th day of May 2021. It was Vitalik Buterin’s part of India’s COVID-Crypto Relief Fund. The Meme coin became the talk of the world after it made a rise of over 200% in just a matter of days in October and still looks to increase.
What Makes Shiba Inu So Valuable?
You must understand that what kills or keeps the life of a meme coin is public attention. This means if it has much attention, it lives longer and gets stronger but it’ll get weaker and eventually die if there’s no attention paid to it. This means if any meme coin will live, the founders have to pull a lot of attention to it.
Unlike what you’ve heard, read, or what you’ve been told, Meme coins have value. Even though it might not look like it, Shiba has landed in the top 15 best-selling coins recently with its value surging high. Shiba has been able to hit a value higher than its predecessor, the doge coin. So far how the Shiba Inu token gained value is quite funny but has a lot to say. The founders of Shiba Inu gave about half of the whole SHIB to Vitalik Buterin (co-founder of Ethereum).
Even though Vitalik said he didn’t know why Ryoshi gave him all that coin, after his donation to India as part of the COVID-Crypto Relief Fund, the founders of SHIB made a public declaration concerning the donation. Remember this donation was over 50 trillion SHIB, shortening the value of the SHIB.
So far, the added value of SHIB is undeniable – especially the fact that it can be used for transactions as it is an Ethereum based coin.
Shiba Inu Price Prediction
So far, there have been contradicting views on the price of the magic coin Shiba Inu, as many crypto market experts have different expectations.
According to the chief marketing officer of Crypto Exchange Marie Tatibouet, “I expect the hype of the Shiba coin to die down soon”. This is the view of an expert in the Crypto market.
A different view comes from one of the founding partners of Ingrained Media, Mr. John McCreery who says he sees real good potential in Shiba Inu, and he expects the value of SHIB to get better. In his words, Mr. John McCreery said “I believe Shiba has some real potential to grow from its fraction of a cent amount to $0.01 or greater” in an interview. In yet another sit down he said “We have seen a large jump just this week, in the coming weeks as we wrap up 2021, the price likely only continues to run.”
We’ve had top market experts on different sides but all of this goes to show that SHIB has proved to be a strong coin and has taken its place among other top-ranking cryptocurrencies in the world. Most of the predictions show that Shib holds a lot of promises for a better future.
Exchanges To Buy Shiba Inu
If you’ve been searching for platforms to buy Shiba Inu, there are several platforms where you can purchase the SHIB coin.
Platforms like Crypto.com, Binance, Uniswap, Coinbase, Atomic Wallet, and even KuCoin
How To Buy Shiba Inu
We just stated that you can buy SHIB on different platforms. Here are the ways you can buy Shiba Inu (SHIB).
First, you’ll need an account. You’ll first need to open an account on any platform that gives users free access to Shiba Inu tokens (SHIB). This could be on Coinbase or Uniswap (any Ethereum based decentralized exchange).
I must let you know at this point that you can either buy SHIB on centralized exchange platforms or decentralized exchange platforms. It is advised you buy SHIB on decentralized exchange platforms basically because decentralized exchange platforms support Ethereum based coins, assets. You can use Uniswap as it is a decentralized exchange platform l. Make sure you have a crypto wallet that you can choose from any of the earlier mentioned platforms. When you get a wallet then you are ready to purchase SHIB
Shiba Inu Vs Dodge
Shiba Inu versus Dogecoin is otherwise known as the Crypto Dog Fight. Both coins hold so much worth but Shiba Inu has proven to be a stronger counterpart to its predecessor the dogecoin. Both coins can be used to pay, purchase assets. The Shiba Inu coin is said to have its exchange platform, of course, it is a decentralized exchange platform called ShibaSwap. Having its exchange platform keeps SHIB one step ahead of dogecoin.
Dogecoin was developed in the year 2013 while Shiba Inu was developed in August 2020. The dodge coin has about $132 billion in circulation supply while the Shiba Inu has over $550 trillion in circulating supply. As of October 2019, the dodge coin has $38 billion as market cap. price while Shiba Inu has $40 billion as market cap. price.
Even though both coins were characterized as meme coins, they have both shown sustainability and consistency as regards pulling attention and both show a strong promise for the future.
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What Does The Future Hold For Shiba Inu
Saying the future is bad for Shiba Inu wouldn’t be a nice thing to say, because this meme coin which was considered to be nothing a few months ago shook everyone’s feet with the all-time high it hit. The available predictions of the future of Shiba Inu are contradicting each other as some experts feel Shiba will not make it. On the other hand, we still have experts who speak positively and consistently about its value. It is sure to keep gaining more grounds and thus have a groundbreaking future. Experts still believe that SHIB will one day hit $0.1 and then $1 and so on.
So far we can say that indeed whoever named or whatever group of people named the SHIB after the dog breed sure had a peek into the future of their Meme coin. It has broken the record of any meme coin ever held. Reaching its height in such a short time as compared to other coins in the crypto world.
SHIB stood because its founders saw its future and stayed fighting with what they saw and never flinching even when it seemed like that dream would not be possible. The Shiba Inu coin has shown strength like the Japanese dog breed. Just like the Japanese dog breed is used for hunting, the SHIB has practically hunted down the dogecoin which happens to be its predecessor and the first meme coin.
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