Cryptocurrency as an investment model gained massive attention in 2009. Bitcoin became the first crypto token to enter the global market. Crypto tokens enable easy peer transactions on the internet. It allows users to initiate a transfer of tokens from one account to another easily. As an investor, you just need a digital wallet to your account to complete these user transactions. Additionally, this investment model eliminates the need for banking agencies. Trading crypto has never been this easy with bitcoin-up.live.
Cryptos are not governed by any regulatory authorities or central banks. The role of traditional banking kicks starts when an investor tries to liquidate holdings.
Along with the growing popularity of Bitcoin, many other tokens entered the market. As we speak more than 15k+ crypto tokens are being traded globally. The total market volume of investments has increased to $3 trillion. Considering that cryptos have been in the market for only a decade now, this is impressive growth.
With more than a decade of experience, many crypto tokens made their entry. Other than crypto tokens, there are also stablecoins, NFTs, and altcoins. These tokens are creating impressive growth in the investment market.
Understanding SHIBA INU – alternate cryptocurrency
Shiba is an Ethereum-based alternate token. The token displays the image of a Japanese hunting dog. The token is considered an alternative to Dogecoin.
Both Shiba and Dogecoin are meme tokens. Shiba Inu was officially launched in the year 2020 by an anonymous group. The price of this token increased by more than 100% in less than a year. The total market volume of the token went up to 41 billion. In less than two years, the token has taken a position as safe crypto for investment. Shiba Inu ranks as a safe bet amongst the top ten crypto tokens.
The white paper released by Shiba developers clarified the token’s primary purpose. The token aims to manage crypto transactions that are 100% managed by its community. The developers also clarified that the ecosystem was built on Ethereum for its security. The Ethereum platform is already established and works effectively in a decentralized manner.
The Shiba Inu’s ecosystem consists of three types of tokens and is as follows:
It is the foundational currency within the Shiba ecosystem. The supply of this token started at 1000 trillion. Out of this, 50% of the total tokens were shared with Uniswap. The balance of 50% was given to the Ethereum co-founder. Both these crypto holders are taking safe custody of Shiba. In other terms, these two holders are none other than crypto whales.
This type of token represents the other end of the Shiba ecosystem. Compared to Shiba, the supply of Leash is limited.
Bone is a governance token within the Shiba ecosystem. The token is circulated to the Shiba army as a reward for their voting rights.
Is it good to invest in Shiba Inu?
Now, this is not a long debating question. The answer is perfect Yes. Shiba has been a promising currency since its launch in 2020. Shiba was also able to catch up with the market volume of Dogecoin in less than a year. Like other alternate tokens, Shiba Inu is not a pricey token.
Also, the token has created its internal mechanism to control the supply and demand of this token. Shiba continues to burn their existing tokens once every quarter. The token also provides users with the ability to execute smart contracts. Also, the token works on the Ethereum platform is another advantage of this crypto token.
Investors who have tried their luck with Shiba are waiting for a major surprise. The market performance of various tokens including Bitcoin, and Ethereum has been depressing. Since May 2022, the market has been showing a downward trend. Many investors carry the fear of their investments hitting rock bottom. The market crash has been an eye-opener for many investors.
While all other pricey tokens are showing their impact, Shiba continues to play differently. The currency has been trading in a straight line without showing any changes in prices. For more than a week, the token has not shown any price change. This seems to be positive news for Shiba holders. Shiba is trading at a lower rate as compared to its original prices. However, the token is expected to increase in the coming months.
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