that shiba inus is a blockchain-based token Ethereum whose popularity has skyrocketed in recent years. This cryptocurrency was originally created in August 2020 as a joke in response to the popularity of the first memecoin, DOGEN, and certainly did not seem like a serious project. No one would have dared to say that from the start it would create the enthusiasm we now see. In fact, few altcoins can compete with the king of the crypto industry, Bitcoin, but this currency has created incredible hype (in 2021, SHIB was searched more times than the first cryptocurrency on various search engines).
In this article, we explain how hype around SHIB is overdue, and let’s specify the 5 reasons to be interested in the digital currency inspired by a Japanese dog.
Also read: Dogecoin VS Shiba Inu: How is the coin meme war going in 2022?
1) Positive forecasts
Crypto-market specialists predict a prosperous future for Shiba Inu. Its growing popularity and the active participation of the crypto-community in its fate may have a positive impact on the future of the currency and its price. In addition, many exchanges add memecoin on their list, makes SHIB more and more accessible to the general public, which undoubtedly attracts the attention of users and especially beginners who start discovering SHIB right after learning about cryptocurrency.
In addition, the Shiba Inu token is often used by whales under speculation. Some users have even become millionaires after first believing in the future of the project.
2) Shiba Inu has the support of Elon Musk
The eccentric billionaire is one of the most prominent players in the cryptosphere. No project, whether it’s quality or just a bubble that could burst at any moment, escapes his critical gaze. So when a cryptocurrency has the support of Elon Musk, it has carte blanche, and Shiba Inu is no exception. Tesla’s CEO even tweeted about getting a Shiba Inu dog, triggering yet another wave of popularity for memecoin. To be fair, SHIB is not the only sign of interest in Musk, which is actively promoting Dogecoin along with its “Doge Killer”. Anyway, the SHIB token has the patronage of one of the most influential people in the world, the richest on the planet and of course will not hesitate to enjoy the attention of the southern entrepreneurial African.
3) The award at SHIB is available and gives the feeling of being part of an active community
Although the token was launched for laughs, its current market value is now over $ 13 billion. Still, a dog-themed token costs only $ 0.000024 right now. SHIB developers are looking to provide more opportunities to make money. The initial low price was set for the purpose of giving anyone the opportunity to make money through cryptocurrency. And succeeded.
Every user has the opportunity to become a member of the enthusiast community by investing just a few dollars from their savings. In addition, the number of Shiba Inu tokens is limited, which means that as time goes on, the project matures and takes off, holders of memecoin could have real inflation hedging because the supply of their preferred asset can never be increased.
4) A DeFi platform based on Ethereum
Despite the frequent perception that the popularity of Shiba Inu digital currency is based solely on hype and buzz, the ecosystem supports non-fungible tokens (NFTs) and a DeFi platform, ShibaSwap. For a project that was originally intended as a joke, it is a serious step that deserves respect.
ShibaSwap’s mission is to create a safe environment for trade of cryptocurrency while remaining decentralized. This dynamic ecosystem as well as the aspirations of the developers can not leave users indifferent. Another important factor is that the Shiba Inu token is based on the Ethereum blockchain, a secure network with a good reputation that provides good opportunities for decentralization. Under these conditions, the project can change and evolve without obstacles to overcome.
Thus, the synergy of factors is based on hype and the practicality of the ecosystem bears these fruits while corresponding to the desires of the users.
5) A presence in the metaverse
Metaverse and Web 3.0 are probably the future of the crypto industry. All reputable companies have already turned to this innovative sector. Advanced technologies open up unprecedented opportunities to interact and do business in an environment that actually represents a convergence of physical, virtual and augmented reality in a common space.
While riding the metaverse train, Shiba developed Inu aims to launch their own “Shiberse”. This long-term project aims to provide users with an immersive experience.
At the moment, the metaverse sector may seem like a limited space, but it is likely to grow in the coming months, years.
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