Shiba Inu is popularly renowned as SHIB. It is a meme coin/token, a strong rival of DOGE. It operates on the Ethereum network. The token is in large supply, across the virtual world. The supply touches around a quadrillion. Then again, the SHIB token ecosystem lends support to varied projects. Quantum Code is a trading platform that allows users to trade in many different cryptocurrencies, including Bitcoin.
Currently, it is outdoing other cryptocurrencies in the arena of market capitalization. It is why crypto experts believe that it will soon find pride of place in the list of top ten cryptocurrencies.
Shiba Inu’s Progress
True, an exploration should suffice to provide detailed information about SHIB and other digital currencies. However, observing the comments from other sources also helps.
To illustrate, CoinMarketCap conducts surveys and offers reports about garnered data. According to this company, SHIB is moving far ahead of TRX (Tron), as far as market capitalization is concerned. It displays a valuation of U.S. $6.66 billion, currently. This has helped it attain the 15th rank in the list of largest cryptocurrencies. In contrast, Tron exhibits a valuation of U.S. $6.33 billion.
The credit goes to positive inflows into Shiba Inu’s ecosystem. Then again, the company would be collaborating with The Third Floor (TTF). TTF refers to a world-class visualization studio.
Expectations from the Collaboration
The collaboration would focus on designing and constructing of SHIB.io. This is Shiba Inu’s Metaverse Project. Admittedly, the outcome is expected to be fantastic! It is because TTF has a glorious reputation, being the biggest visualization organization. It has assisted in innovating well-reputed IPs. These IPs are linked to location-based entertainment, video games, and VR/AR.
A teaser regarding events to follow came into a display on July 20, 2022. It showed up on Shiba Inu’s official Twitter handle. The display was about a cloudy rainstorm.
The teaser prompted WhaleStats to come up with some startling information. The biggest ETH Whales, numbering 2,000, wanted to purchase SHIB tokens in large numbers. SHIB ranked amongst the top 10 favorite cryptocurrencies. Above all, the buying pressure had come into play within a mere span of 24 hours!
Benefits of Engaging with SHIB
It is Affordable
Its recent pricing has stood at U.S. $0.002961. This suggests that the token is user-friendly, and extremely cheap. True, it may take some time to approach a value of U.S. $1. Nonetheless, it would be worthwhile for forward-looking investors to hoard SHIB tokens in their wallets.
It has Excellent Trading Volume
The success of a digital token is determined by its day-to-day trading volume. It even provides hints about future success/failure. In the case of the Shiba Inu token, it recorded a trading volume of U.S. $1,604,789, on its debut day!
It is a Tremendous Medium Asset
Right from the beginning of its launch, SHIB has not only survived, but thrived and succeeded. It has been able to break out from the small assets zone, and establish itself as a medium asset.
SHIB’s Potential Rise to the Top
Several reasons suffice for the assumption that Shiba Inu will find its place amongst the top 10 cryptocurrencies.
The token has revealed extensive growth, thereby signaling a superb comeback during the crypto winter. The Shiba Inu ecosystem has capitalized heavily on LEASH, SHIB, and BONE coins/tokens. Experienced investors have been making heavy demands for these coins. Even beginners want to get onto the Shiba Inu platform!
Twitter fans have noted Elon Musk’s fondness for meme coins. They are keen to emulate his thoughts and actions. True, Dogecoin had it all made, for some time. However, Shiba Inu has caught up with its competitor, and is forging ahead! The credit goes to ShibaSwap decentralized exchange. Its operations on the Ethereum financial ecosystem, has enabled it to reach out to numerous users. Furthermore, users gain the benefits of staking, swapping tokens, and fainting yield. Dogecoin never permitted such functionalities.
SHIB tokens generally find themselves caught up within bullish trends in the marketplace. True, they have not escaped volatility. For instance, Shiba Inu did become a victim of the bear market. It had enjoyed a glorious pricing of U.S. $0.00003641 in May 2020. Fortunately, 2021 proved to be better. It revealed a gain of 40,500,000% gain. Thus, the SHIB token has the capacity to reverse existing trends and expect healthy gains.
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