The year is so far very volatile for the crypto space. The prices have shown a lot of ups and downs for various reasons. Furthermore, cryptocurrencies such as Bitcoin and Ethereum have seen massive losses this week, but some crypto experts argue that such volatility is to be expected from such a speculative asset class which has already seen a massive price increase in such a short period. And when we talk about crypto tokens that have shown significant growth this year, then SHIBA INU has been in the news every day. The token that started as a joke has shown exponential growth this year. Moreover, the popularity of the token over the past few months has been impeccable, and now it is being even regarded as the Dogecoin alternative. Shiba Inu was almost unknown until about a year ago until retail and Twitter lurkers discovered it as a second chance for making a profit after Dogecoin’s tremendous success. Many investors missed Dogecoin’s 13,000% price increase in the last five months, and they now expect Shiba Inu to follow suit, given the current headlines and exchange listings. The Growth of Shiba Inu This new cryptocurrency has shown an increase in price and attention that cannot be avoided. Some part of Dogecoin’s market share has already been taken over by SHIB. Furthermore, because its logo is a Shiba Inu dog breed, the cryptocurrency has been dubbed the “DOGE killer.” Within the SHIBA INU ecosystem, SHIB is a decentralized, spontaneous community-building experiment. Shiba Inu, the “Dogecoin Killer,” has become the cryptocurrency market’s flavor of the season. It gains a lot of attention and establishes itself as a popular choice among investors, particularly in the wake of the current bear market. The token is currently trading at $0.000006192 with a global market cap of $2 billion at the time of writing. Elon Musk, the CEO of Tesla, appears to have moved on from his infatuation with Dogecoin and discovered a new obsession. Last weekend, he declared that his Shiba Inu would be named ‘Floki.’ The Musk Effect kicked in shortly after the tweet in the last week of June, and Shiba Inu coin values jumped 16% to $0.00000790 on CoinMarketCap, according to CNBC. So, if you’re thinking about investing in Shiba INU Token, understanding what others have to say about it can be useful information. This article will give you a quick overview of the Shiba Token price forecast for 2021 and beyond (up to 2025). The purpose is to help you decide whether SHIBA Token is a good investment. What Is Shiba INU? SHIB is the “DOGECOIN KILLER,” according to the SHIBA INU website, and will be listed on ShibaSwap, its own decentralized exchange. The Shiba Inu coin was established under the pseudonym “Ryoshi” in August 2020. The charm of the meme coin, combined with articles and Tweets from celebrities like Elon Musk and Vitalik Buterin, drew in a community of investors, quickly improving its speed and value. Shiba Inu was created as an Ethereum-based alternative to Dogecoin’s Srypt mining method. Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token are among a swarm of dog-themed cryptocurrencies (LASM). Investors who missed the Dogecoin boom from 0.0002 USD to roughly 0.75 USD have flocked to these lower-valued currencies. Factors Affecting the Price of SHIBA INU Many factors drive the price of Shiba INU and fortunately, most of them take the token price to a bullish level. The Shiba Inu dubbed “Dogecoin Killer,” has become the rage in the cryptocurrency market, attracting a large number of new investors. The recent crypto meltdown simply served to enhance Bitcoin and Ethereum’s worth. Since June, the Shiba Inu price has been trending lower in a declining channel, resulting in a 40% drop in SHIB. Despite the sluggishness, the volume backing the declining channel has been low, indicating that investors are not in a hurry to depart the coin. Shiba Inu is getting a new dedicated exchange — ShibaSwap. A new decentralized cryptocurrency exchange (DEX) similar to UniSwap or PancakeSwap, which will be more of a coin exchange. Although the platform is operational for several weeks, it is currently being reviewed to assure total security and transparency. SHIB is mentioned on 1000+ crypto social media channels, including Telegram groups, crypto subreddits, discord groups, and private trading conversations, according to the Santiment Social Volume indicator. The number of people using social media dropped dramatically after the May crash, but it is currently leveling off, demonstrating that it has retained its popularity despite a 40% drop. Shiba INU Price History The performance of the token has been quite impressive this year so far, despite the deep crypto market correction. The token started the year with $0 billion that went on to $13 billion. This … Continued
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