What Makes Shiba Inu So Valuable?
By Space Coast Daily // January 4, 2022
SHIBA INU is the latest gladiator to reach the apex point in the cryptocurrency multiverse. Named after a famous Japanese dog breed and Shiba inu created by an anonymous person called Rayushi, this decentralized cryptocurrency has even surpassed Dogecoin. Also characterized as a meme coin, this valuable cryptocurrency is churning billions of dollars and has caught the imagination of real-time investors.
The deeply ingrained psychological fear of missing out (FOMO) has played a pivotal role in catapulting SHIBA INU as the 11th biggest cryptocurrency by market capitalization worldwide.
Major cryptocurrency observers attributed non-fungible tokens as the rallying point behind the meteoric rise of SHIBA INU. The crypto consciousness of Gen Z has been undergoing dynamic change for the last two years. It has become an excellent demonstration of the investable thesis that forms the crux of digital currency as a whole.
Elon Musk endorsement
Elon Musk, the richest man in the world, tweeted about SHIBA INU and its market cap rose by 40% in two days of trading. The influence is massive in the cases of globalized cryptocurrency markets that see Elon Musk as a demigod. The cryptic endorsements through Elon Musk tweets have increased the prominence of Shiba Inu tokens.
A similar growth spike was observed in Dogecoin due to the adoption of the basic intellectual synchronization of the tech entrepreneur. Speculators benefited from the soaring demand of the cryptocurrency in the hitherto unknown third-world markets. With a solid thematic presence in the crypto universe, the token has achieved maximum visibility among the tech generation due to the rallying tweets of Elon Musk.
Strength of community
The main growth factor of the SHIBA INU lies in the top-notch crypto asset management through technical channels. Also referred to as the giant killer, it’s David versus Goliath in the Dogecoin episode. The community strength behind altcoins such as SHIBA INU is highly resilient.
The rising hype around a cryptocurrency is not uncommon in the cryptocurrency metaverse, but the trick of the trade lies in the proper sustainability. Performance-driven amplification of the SHIBA INU is being deftly carried out by those who have a big stake in driving up the current surge. The technical community is aware of the price swings that these tokens can cause.
Price factor of SHIBA INU
Historical data analysis indicates that SHIBA INU will be the future of cryptocurrency. Q1 and Q2 earnings suggest that the price of the new token is expected to increase. The 24-hour trading volume is gaining traction. Global investors are favoring this altcoin, with numerous reputed crypto exchanges listing this alt-coin. The SHIBA INU is equipped with meme coins and is driving up the prices of non-fungible tokens.
Traders can find it easy to invest in a crypto exchange. Investors frequently see bullish movements on the markets, thus taking the speculative abilities to a whole new extent. Market control lies in the hands of the buyers in the SHIBA INU token exchange system.
A lot of patience is needed for traders to shine brightly in this SHIBA INU coin market. Even though the market exhibits bearish tendencies, the chart of this hottest new coin has made all the right price movements. According to the Shiba Inu predictions by experts, the coin will touch new heights soon.
The small contracting capabilities of the Ethereum blockchain are providing the perfect utility for the new token in terms of rewards and staking. The whole cryptocurrency world holds a lot of potential for this new token because of its high measurement of crypto attractiveness and a dedicated and passionate community that provides the required trust levels to the Shiba Inu token market.
Shiba Inu has again increased the attraction of cryptocurrency. Close on the heels of the success of the Dogecoin, this valuable asset will see profit maximization over the coming years and has the potential to set industry benchmarks as the most trusted and credible cryptocurrency. The government regulations also align with the perfect dissemination of the Shiba Inu token coin.