Shiba Inu was created by “Ryoshi” and has gained 12505887.6% since its beginning in the crypto market. For buyers of SHIB tokens, for a few dollars, they become millionaires. It just took two brothers $200 to see it turn into tens of thousands of dollars in just a few short weeks.
Shiba Inu (SHIB), dubbed the “Dogecoin killer,” is a meme coin that has generated a lot of buzz on social media. After Bitcoin (BTC), Ethereum (ETH) is the second most popular cryptocurrency (BTC).
On May 10, 2021, Bitcoin, along with the rest of the cryptocurrency market, fell precipitously from its all-time high of $0.00003791. After that, Shiba Inu fell for a few weeks. On May 22, Shiba Inu’s price stabilized at $0.0000083 for two months. Shiba Inu is currently selling at $0.000007023, down 6.31 percent from yesterday’s trading volume of $221,677,612.22.
Shiba Inu (SHIB) is running on the Ethereum network. Hence, it is migrating from PoW to PoS (PoS). Shiba tokens are fungible ERC-20 tokens with equal value. Nor does Shiba Inu have the backing of Elon Musk, the SpaceX and Tesla entrepreneur. Musk’s Twitter is a mysterious area in the cryptocurrency world. The multi-remarks of billionaires have caused a 2-5 percent slump in crypto values. When Musk tweeted about it in May, BTC dropped 20%, yet a single tweet in support of BTC quickly increased the price by 4%.
Always consider the tokenomics of crypto investing. Dogecoin’s supply method is distinct from other crypto assets. Unlike Bitcoin, which has a limited supply of 21 million coins, Dogecoin has no limit.
Shiba Inu does not have the same market capitalization as Dogecoin due to its restricted supply of 1 quadrillion tokens. So, neither Dogecoin nor Shiba Inu has a finite quantity that can be quickly replenished.
Everyone knows now that Elon Musk’s views on bitcoin and support for Dogecoin are valuable. Dogecoin was up 20% in 2021 due to his remarks like “Dogecoin is Money.”
Although the “Doge-coin killer,” Shiba Inu, doesn’t have the same popularity, analysts predict it can beat Dogecoin in the coming years.
Buterin, the Ethereum creator, possessed over half of the SHIB supply. However, he chose to burn 90% of them, totaling 410 trillion tokens, worth roughly $6.7 billion.
With less supply, the currency may launch a new bull run. Another consideration is market capitalization. Both Dogecoin and Shiba Inu have high market capitalizations, limiting potential gains indicating that they are both prevalent in the crypto realm. As of this writing, Dogecoin has a market capitalization of $36,313,515,624.72. On the other hand, Shiba Inu is ranked 50th with a market capitalization of $2,762,340,296.49.
Experts in the crypto sector are divided on SHIB’s moonshot potential. Here are some opinions to consider before investing:
Shiba Inu will hit 0.000064, up 814.29 percent, according to Wallet Investor. So, if you invest $100 in SHIB tokens now, you can get $914.29 in 2026. Shiba Inu could reach 0.000061 in 5 years, representing a 620 percent increase. They claim that Shiba might hit $1 in 2021 if it keeps growing at this rate. If it rises at 20% every month, it will take five years to reach $1, which means 2025 at the earliest.
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