Will Shiba Inu Be Able to Become One of the Most Capitalized Coins On the Cryptocurrency Market?
2022-05-10 17:39:36
Can Shiba Inu Have A Future In The Cryptocurrency World?
Often the world of cryptocurrencies sees the birth of new trends destined to change the fate of some coins that better represent them. Some of these trends are caused by specific market needs or technological development, while others are caused by marketing campaigns and celebrities advertising them. One of the most discussed cases was certainly the trend of dog-inspired meme coins, which began in 2020/2021 with Elon Musk claiming to own Dogecoin, the most important meme coin. That statement pushed Dogecoin's price up a lot, bringing it to around $0.70 per unit. From that moment people began to speculate on what would be the next meme coin to pump up its price, putting the spotlight on another emerging meme coin, Shiba Inu.
Its decentralized token (SHIB) was created in August 2020 by an anonymous person and ever since this coin hit the cryptocurrency market, it has been compared to Dogecoin. Before launch, developers transferred half of their digital coins to be destroyed, and they gave the other half to the founder of Ethereum, Vitalik Buterin, who destroyed them too. The philosophy of the project is that everyone should buy Shiba Inu coin on the open market in which developers do not own the tokens, to ensure a fair and complete distribution. The Shiba Inu price history had a great start after a few weeks of its existence, as it was listed on several crypto exchanges, hit its all-time high of $0.00008 and reached a market capitalization of more than $34.29 billion.
It is known that meme coins are famous for having a large number of passionate followers and influencers always ready to advertise them in various social media platforms. Shiba Inu has indeed a huge crypto community that helped the coin to maintain certain price levels and to still retain the 16th place for market capitalization. However, all this may not be enough, as the development team should also think about some solution to make the project useful for real use cases. In fact, we already have several examples (like Cardano) where a currency has managed to make a great leap in quality thanks to the fact that it was subjected to important technological developments. It is also expected to see a disruption in the cryptocurrency market in the near future: many coins will disappear due to abandonment, and only those with real use cases will have a chance to continue to exist. This market needs to gain credibility and long term sustainability.
If technological development is followed by the expansion of the community, then Shiba Inu will likely be able to find a stable place among the top 100 crypto projects by capitalization. As for the price, we have to say that it has not even reached its first target of $0,01 yet, so it still has plenty of room to grow. According to some price predictions, this can be a good moment to buy some bigger amounts and wait. In case you have not done this already, you could open an account on Gate.io exchange and buy Shiba Inu directly from there. It is the easiest and quickest way to get started.
Often the world of cryptocurrencies sees the birth of new trends destined to change the fate of some coins that better represent them. Some of these trends are caused by specific market needs or technological development, while others are caused by marketing campaigns and celebrities advertising them. One of the most discussed cases was certainly the trend of dog-inspired meme coins, which began in 2020/2021 with Elon Musk claiming to own Dogecoin, the most important meme coin. That statement pushed Dogecoin's price up a lot, bringing it to around $0.70 per unit. From that moment people began to speculate on what would be the next meme coin to pump up its price, putting the spotlight on another emerging meme coin, Shiba Inu.
Its decentralized token (SHIB) was created in August 2020 by an anonymous person and ever since this coin hit the cryptocurrency market, it has been compared to Dogecoin. Before launch, developers transferred half of their digital coins to be destroyed, and they gave the other half to the founder of Ethereum, Vitalik Buterin, who destroyed them too. The philosophy of the project is that everyone should buy Shiba Inu coin on the open market in which developers do not own the tokens, to ensure a fair and complete distribution. The Shiba Inu price history had a great start after a few weeks of its existence, as it was listed on several crypto exchanges, hit its all-time high of $0.00008 and reached a market capitalization of more than $34.29 billion.
Can the Shiba Inu Community Take the Coin Even Higher Than What It Already Is?
It is known that meme coins are famous for having a large number of passionate followers and influencers always ready to advertise them in various social media platforms. Shiba Inu has indeed a huge crypto community that helped the coin to maintain certain price levels and to still retain the 16th place for market capitalization. However, all this may not be enough, as the development team should also think about some solution to make the project useful for real use cases. In fact, we already have several examples (like Cardano) where a currency has managed to make a great leap in quality thanks to the fact that it was subjected to important technological developments. It is also expected to see a disruption in the cryptocurrency market in the near future: many coins will disappear due to abandonment, and only those with real use cases will have a chance to continue to exist. This market needs to gain credibility and long term sustainability.
Does Shiba Inu Stand a Chance to Exist In the Future?
If technological development is followed by the expansion of the community, then Shiba Inu will likely be able to find a stable place among the top 100 crypto projects by capitalization. As for the price, we have to say that it has not even reached its first target of $0,01 yet, so it still has plenty of room to grow. According to some price predictions, this can be a good moment to buy some bigger amounts and wait. In case you have not done this already, you could open an account on Gate.io exchange and buy Shiba Inu directly from there. It is the easiest and quickest way to get started.
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