Crypto coin shiba has witnessed a market value soar. It saw its stock rise by 23.83% (9:50 am, 27 October 2021) as it continues to be trending upwards asset on the crypto market, it has climbed to an all-time high and is currently one of the biggest digital currencies by the market value, gaining over 45 million percent in the past year as seen on their website.
The success for Shiba Inu coin has further led to the success for other meme based crypto assets, such as Baby Doge Coin and dogelon Mars coins, both of which are loosely based off of doge coin, shib coin and according to Bitcoin.com, Elon Musk. Earlier this year, the co-founder of Ethereum, Vitalik Buterin made headlines, when he made donations worth one billion dollars of shiba coin to a COVID-19 relief fund in India.
The financial conduct authority, a group that reviews how people use money, made it known to potential investors about the risk of investments, because of the shifting and volatility of the market, if investments are made, they should be prepared to lose all their money.
As of last week, it was valued at $0.000072, after reaching a record high of $0.000077 earlier in the day. A petition was signed with almost 300,000 signatures to allow Shiba Inu coin to be traded on the Robin Hood platform. There are other virtual currencies that have also seen explosive growth. Bitcoin, which is he most valuable cryptocurrency hit an all-time high of nearly $67,000 per coin which has beat the previous record it had set in May.
What is Shiba Inu Coin?
Shiba Inu (SHIB) is a token that aims to be an Ethereum-based alternative to Doge coin (DOGE), the popular meme coin.
Shiba Inu Coin is referred to as an experiment in decentralized spontaneous community building. It was launched in August 2020 and is called ShibaSwap which listed on its own decentralized community building, it has a market value of about 26 billion dollars.
How it works
Because the Shib coin is issued as an Ethereum token, it is compatible with the vast Ethereum ecosystem. The advantages are the compatibility with Ethereum wallets like coin base wallets or metamask, the availability on decentralized exchanges (DEXs) like UniSwap, the potential for SHIB to be incorporated into ETH-based DeFi applications like lending and saving products and NFT marketplaces.
Why is Shiba Inu rising?
Shiba Inu coins are found attractive as they offer the opportunity for quick gains. Lower dollar price tokens are attractive to retail. However, it is possible to lose all your money in a second.
Shiba Inu price prediction
For shiba coin, there has been a lot of concerns of volatility this year despite the rise, it experienced in the previous months. It would be hard to predict how there would be a rise in Shiba Inu will be changing in the future, due to a number of factors affecting it, this could include the regulatory crackdowns around the world.
In May the value of Shiba Inu skyrocketed after the official announcement from binance to list the coin on the crypto platform, in September its value also rose after the coins began trading on coin base. This shows that they could rise once again if it is listed successfully on other recognized platforms such as eToro.
Shiba coins in 2022
Because of the volatility of cryptocurrencies, it is difficult to predict how things would be in a years’ time. Coin price forecast, expects the value of shiba reaching $0.00008819 by the mid of 2022. The token hit its previous high $0.00003641 0n May 11, which has made it up since then, and trends have been favorable to the shiba coins and the wallet investor expects the value to reach $0.000053 in a year.
How to buy Shiba coin
It can be purchased and sold through Shibaswap, but it can also be found on Uniswap, which is an ever-growing of CEXs.