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Shiba Inu Coin | The next DogeCoin
Elon musk predicted that Shiba Inu coin will replace dogecoin and hit 10 cents soon. The rising prominence of the meme coin on the internet has driven a few analysts and investors to take near notice of the Shiba Inu coin these days. The Sheba token has been acquiring further attention as of late not only on the rear of rising interest in dogecoin but also due to the ongoing interest from tesla CEO Elon musk which has persuaded fans that it could be the next cryptocurrency for musk.
What is Shiba Inu Coin?
Shiba Inu coin is a coin inspired by dogecoin and is based on the Ethereum blockchain. Shiba Inu token was hosted by uniswap which then spiked by over 300 per cent thanks to Elon musk’s tweet. In contrast to bitcoin which is intended to be scarce, Sheba is purposefully abundant with a supply of one quadrillion which has been burned down to nearly 300 trillion.
In this post, we will discuss the huge announcements of Shiba that will lead the token to take the upper hand from doge and we will discuss the ties between the coin and Elon musk.
History of Shiba Inu Coin
Since the beginning of the year, meme coins have grabbed the eye of digital currency insiders and outsiders. Dogecoin the first meme coin was launched in 2013 and achieved the height of fame after different promotions from Elon musk which were trailed by multiple famous people. The Crypto community rushed to benefit from doge’s frenzy as various copycats began to arise practically every day while some failed to stand out others essentially took off. Shiba Inu was among those who gained some market capitalization. Although it has declined in value since its all-time high, Shiba Innu has raised to the fourth top trending token in the US. Shiba Coin went to the spotlight last month when Vitalik Buterin, the world’s youngest known crypto billionaire and developer of Ethereum gifted 50 trillion sheep tokens worth around 1.2 billion dollars to India’s coveted relief fund established by entrepreneur Sandeep Nailwall.
The popularity of Shuba Inu Coin
Its ecosystem supports projects such as an NFT art incubator and the Shebe’s decentralized trade called Shiba swap.
This meme coin enjoys the help of an active fanbase online which holds its value back from collapsing even if the market sentiment as a whole is suffering a setback. Sheba is close to being a big player in Ethereum’s ecosystem by overcoming the shortcomings of dogecoin. However, the absence of support from various projects and institutional investors make sheep more unpredictable than other assets.
Elon Musk and Shiba Coin
The market notion is a key driver directing value activity in the Shiba Inu coin although recently it is by all accounts savouring support from tesla CEO Elon musk’s consideration. It appears Tesla CEO Elon musk has moved on from his obsession with dogecoin and tracked down another crypto to tweet about last weekend. The tech billionaire tweeted how he would be naming his Shiba Inu as floki before long the tweet that was posted the musk effect worked its miracles and the value of the Shiba Inu coins saw a 16 per cent rise. It looks like buyer confidence in the meme coin is building up as its price gets ready to break out to the higher side. However, such a move can only sustain so long as the market sentiment towards cryptocurrencies, in general, remains positive.
Incorporation of Shiba Coin in Shopping.Io
Shiba Inu has been incorporated into the shopping.io stage which as of now upholds over 100 other digital forms of money as well. Now sheep token owners can utilize their crypto to purchase things on shopping.io just like amazon, eBay and Walmart. This development reinforces Shiba Inu’s utilization case as a payment method.
Future of Shiba Inu Coin
Shiba Inu is looking to secure its future rather than depending on the whims of the market. The project has a couple of catalysts that are helping to catapult ts price higher by more than six per cent in the last few days. These involve the launch of its much anticipated decentralized exchange dex Sheba swap and the integration of the sheep token on the retail platform or consumer shop. Shiba Inu is hoping to get its future instead of relying upon the impulses of the market. The launch of the decentralized exchange is likely to drive interest and adoption of the coin higher soon especially as it has a team of prominent developers working on it.
Confidence in the token is building thus Shiba Inu’s value seems prepared to sidestep key resistance obstacles to tag the 0.00010 mark. Nonetheless, for such a price, market assessments towards the general crypto market need to stay positive. Sheep enthusiasts seem faithful and praise each milestone. Now that the Shiba swap is live Shiba Inu will successfully gather a huge flock of investors. Investing in Shiba now is the right choice but as always do your research before investing in any asset and don’t put your money in risk vessels if you are not ready to bear losses. Do you think the musk effect will go on let me know in the comment section below?
Happy Earnings !!!
FAQ
What is Shiba Inu Coin?
Shiba Inu coin is a cryptocurrency based on Ethereum Blockchain and is not a hoax only. It is predicted that Shiba Inu Coin will replace Doge Coin in the future.
What are the profitable cryptocurrencies according to Elon Musk?
Elon Musk has remained a fan of Dogecoin. But, now it seems that he is more interested in Shiba Inu Coin.
Doe Shiba Inu Coin has some future?
Yes, the Shiba coin team is trying hard to give the coin a future. They have launched Shiba Swap, a trading platform. So, it’s here to stay.
Will Shiba Coin reach 10 cents this year?
Shiba coin has joined shopping and trading platforms and has also launched the Shiba swap. So, there are bright chances that it will break the 10 cents mark soon.
Disclaimer
The Post is only the views of the author and should not be taken as legal or financial advice.