Shiba Inu Is Getting Ready For Another Big Run – Can It Hit $0.01?
February 11 2022 - 9:45AM
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Shiba Inu has been making a triumphant return to the spotlight in
the last few days. During the previous week, it climbed a decent
46%. For the last 24 hours, the price has fallen just 5.62%. Shiba
Inu is currently trading at $0.00003079 with a 24-hour trading
volume of $1,805,384,970. According to some analysts, Shiba Inu is
one of the best buys in cryptocurrency history. Of course, the
crypto still has to prove itself. Phenomenal Performance: But Is
Shibu Safe? The token is by no means a reliable or safe investment;
however, its 2,500% run in May 2021 shows it has the potential to
surprise investors with spectacular gains. Shiba investments have
risks, although, ShibaSwap’s success and popularity might bring in
large sums of money. With that said, with enough luck and
liquidity, it has the potential to rise once again. On the other
hand, putting cryptocurrencies into anonymous ventures such as
ShibaSwap – which may allow the founders to cheat investors out of
their cryptos – poses severe security risks. SHIB total market cap
at $17.78 billion | Source: TradingView.com Related Reading
| Recapping 2021 Memecoin Mania: Dogecoin, Shiba Inu, &
More Shiba Inu: A Backstory The memecoin was formed by an unknown
individual using the alias Ryoshi. Shiba is an Ethereum ERC-20
token that allows developers to build the ShibaSwap DEX and add
other tokens and NFTs to the platform’s ecosystem. Its maximum
supply is 1 quadrillion tokens — more than any other
cryptocurrencies. Because of the large token size, Shiba Inu’s
price is much lower than similar assets. Using smart contracts,
Shiba Inu can build more complex applications like DEXs and NFTs.
The token launched its ShibaSwap DEX during the summer and now
“Shiboshis,” a collection of 10,000 NFTs. ShibaSwap offers a
variety of options for customers to use their tokens. It was
created to allow new users to invest in liquidity pools and
purchase Shiba tokens. However, this strategy isn’t new, and there
will be some selling pressure when the liquidity mining incentives
end. Shiba’s price has risen, but it won’t be easy to surpass its
all-time high. Currently, there’s a competition heating up between
Shiba and Doge. Dogecoin has a market capitalization of $25
billion, whereas Shiba Inu has $17 billion. Can Shiba Inu Reach
$0.01? Shiba has seen tremendous price growth in 2021. Because of
recent price increases and media attention, it has shot to the top
of the list of popular cryptocurrencies. Despite its current value,
many are doubtful that it will ever reach a price of $0.01 or more.
Related Reading | Shiba Inu Enters The Metaverse, But Will
This Help Its Price? Featured image from The Global Coverage, chart
from TradingView.com
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