When bitcoin first hit the crypto market in 2009, many thought that it was going to be the alpha and omega in the fast emerging field of virtual currencies. In just a short period afterwards, so many other cryptocurrencies that collectively fall under the name altcoins have emerged. These alternative currencies do not differ from bitcoin at a grand scale but have their individual strengths and weaknesses. Bitcoin having been the first crypto provided a benchmark from which newer currencies benefit. Shiba Inu is one such altcoins that has shown significant growth in the recent time thus drawing attention from ambitious investors.
What is Shiba Inu (SHIB)?
Cryptocurrency is currently the most considered financial technology among the young generations. It is not just a fancy trend but a great investment option just like stocks. Maybe the most popular crypto today include bitcoin, ether and other altcoins but anyone looking for a real money maker, it could be just the right time to try Shiba Inu.
Just for the fun of it, one should know that the name Shiba Inu comes from a dog breed. The reason why a cryptocurrency had to take a dog’s name is something for the imagination. What we can say is that despite taking a dog’s name, the coin Shiba Inu has displayed great milestones and value appreciation which keeps it so much ahead of the cup.
Anyone who cares to get a hang of cryptocurrencies as a current trend should be aware that various types of cryptocurrency have been established. New ones keep coming up even as others die off for whatever reasons. Shiba Inu is one cryptocurrency that, even though not a common talking point, needs to be a great consideration for budding investors. Shiba Inu is a type of altcoin with the Shiba Inu poaching dog as its talisman and is viewed as a substitute to Dogecoin. The Shiba Inu token as a delegated cryptocurrency was made in August 2020 by an unspecified person or team called Ryoshi.
Significance of investing in Shiba Inu
The Shiba Inu recently entered the Metaverse, which is determined as one of the significant elements in cryptocurrency. By the end of this decade, some researchers even picture the Metaverse achieving a market price of $8 trillion, but it is one of the factors why buying Shiba Inu stocks could be a smart move.
In 2021, Shiba Inu was also one of the leading cryptocurrencies. It increased by 48000000% hence leading Ethereum and Bitcoin. Shiba is also considered a good investment because it has many advancements increasing in its environment. One of the significant advancements is 2022, during the initiation of Shibarium, a Shiba Inu solution created to assist Shiba Inu in lowering its transaction costs. Some of the reasons that make investing significant making it an intelligent move include the following:
Shiba Inu is an outstanding meme coin today in cryptocurrency
The price of Shiba Inu may have increased in the first quarter of 2022. However, Shiba Inu marketing is still strong and in meme coin. In this case, many shareholders believe that investing in Shiba Inu is smart relative to various other types of cryptocurrencies. Also, researchers think that Shiba Inu has higher opportunities of having long-term value.
Cheap Cryptocurrencies today
Shiba Inu is one of the cheap cryptocurrencies today in the market. It has been trading at lower costs making it a capturing investment for many starting investors who want to begin cryptocurrency but have less capital. Also, because Shiba Inu has a market value, various investors look forward to it doing well in the long run, making it a smart move to invest in.
Shiba Inu Tokenomics
Shiba Inu is also significant due to its tokenomics. When it first entered the market, it had numerous tokens going rounds. However, by mid-2021, around 50% of this demand had been removed from the market. As a result, Vitalik Buterin decided to limit the 50% of tokens given to him by Shiba Inu when it first started. Since that time, Shiba Inu has persisted in burning tokens.
In 2022, the Shiba Inu team even began a token burn platform, showing its tokens will reduce in due course. Based on the economics of supply and demand analysis, Shiba Inu can be the leading meme coin in the future.
How to purchase SHIB
- Make a MetaMask wallet.
- Transfer Ethereum (ETH) to your wallet by directly purchasing or sending from trading like Coinbase, utilising the ERC-20 network when sending Ethereum.
- Link your MetaMask wallet to ShibaSwap.
- Exchange ETH for BONE, SHIB, or LEACH tokens.