The concept of cryptocurrency is alarming and interesting at the same time. People have been trying to understand this investment model for a long time now. The cryptocurrency craze is at an all-time high in 2022. Along with Bitcoin, there are more than 4000+ cryptos currently available in the BitIQ app. Also, these investments have been attracting maximum investments as well. Today, the overall investment for crypto is at $2 trillion. This was not an anticipated or forecasted investment when Bitcoin got launched in 2009.
Understanding Shiba Inu and its features
Shiba Inu is an alternate coin in the investment market. It was launched as an Ethereum based coin and runs Ethereum 20 platform. Shiba is particularly developed as a meme-coin and works as an alternative to Dogecoin as well. The coin also has its features of being tagged as a Dogecoin killer. The price of Shiba increased multi-fold in August 2021. Shiba is a popular coin today and takes a safe position within the 10 most popular coins in the investment market.
The framework of Shiba Inu is made up of three different tokens –
Shiba Inu (SHIB) – This is the foundational or native currency of the Shiba community. The developers had decided that the total market supply of Shiba will be fixed at 1000 trillion. However, with the growing demand for this meme coin in the global market, the investors are now rethinking their decision on the total supply. Shiba Inu team has loaded 50% of the funds in Uniswap. This investment will allow for the liquidation of the funds at any time. The balance of 50% is under safekeeping by Ethereum developers. This is a catch 20 situation. The overall price of Shiba will surge to an all-time low if this coin gets distributed in the global market. Also, in 2021 Ethereum developers donated more than 50 trillion coins to COVID relief. Post this donation phase, there was another action by Ethereum developers. More than 40% of coins were burned down or in simple terms permanently deleted. The total supply of the coin was moved to a dead wallet.
LEASH – This is the second coin on Shiba Inu’s platform. The difference lies in the total supply. As against Shiba, the total supply of Leash is limited to 107k.
BONE – The BONE is different from both the above types and is mainly used as a token for governance purposes. This token enables Shiba users to provide their voting on various proposals submitted for approval and consideration.
Where can you buy Shiba?
As an investor, you need to follow the steps below to buy Shiba Inu
- Create your account by updating your profile on the MetaMask wallet
- You can either buy or send Ethereum to your wallet. An investor can either buy Ethereum directly from the wallet or transfer the same through an already available exchange
- Once the transfer is completed, the Metamask wallet needs to establish connections with Shiba Inu
- Swap the available Ethereum balance with any of the Shiba Coins – Shib, Leash, or Bone
Shiba Inu price prediction for 03 years
In the current scenario, Shiba is ruling the investment charts. There have also been discussions ongoing to make this coin a legitimate investment model. The price of Shiba peaked at 1000%+ in 25 days. The market capitalization increased making this investment and currency model the best bet.
Binance exchange recently accepted Shiba Inu listing in their exchange. The prices have been soaring high since this inclusion. However, the market was soon to recover from this hype and the price came back to normal. Despite this price volatility, experts think that 2022 is a good year for Shiba’s investment. The market is sure to witness a price hike in mid of 2022. The utility of cryptocurrency extends outside crypto exchanges as well. Certain online business platforms also accept Shiba payments. Cryptwerk today has more than 300 businesses that accept crypto payments.
If you are on the lookout to make money out of crypto investments in the coming year. Then Shiba is a good investment bet. Like any other cryptocurrency, this crypto is also open to price variations. Once Shiba becomes a legal payment model the real-time utility of this coin is also going to increase.