Shiba Inu is Not dead! It is Just Half-Way Through Resurrection

Shiba Inu may also catch the attention of investors looking for an affordable investment option

The crypto domain started considering Shiba Inu as a worthy investment since the token was accepted for listing in the Binance exchange. The crypto witnessed its price skyrocketing exponentially last year, within a very short period. However, it did not succeed at keeping its position. But experts predict that mid-2022 might hold a different story for the SHIB token. Due to the increasing popularity of cryptocurrencies all over the world, SHIB may also catch the attention of investors looking for an affordable investment option. But studies reveal that as its price fell almost 60% compared to its all-time high, several investors are evading trading SHIB tokens. Nevertheless, several large 'whales' have recently purchased massive amounts of Shiba Inu coins which also indicates that its price may rise in the future.

This year, investors are still wondering if the price of Shiba Inu will reach US$1. To do this, various data must be considered. Currently, Shiba Inu has a total supply of 589.6 trillion tokens. If SHIB reaches a price of US$1 with this supply, it should have a market capitalization of US$589.6 trillion.

In this sense, it would become the most valuable asset on the planet, surpassing the capitalization of Apple by about 235 times. Apple is the company with the largest capitalization globally. Based on this hypothesis, Shiba Inu should reduce its current supply by more than 99%. In this sense, the burning of SHIB tokens is being carried out to reduce the circulating supply of the meme cryptocurrency.

The crypto domain started considering Shiba Inu as a worthy investment since the token was accepted for listing in the Binance exchange. The crypto witnessed its price skyrocketing exponentially last year, within a very short period. However, it did not succeed at keeping its position. But experts predict that mid-2022 might hold a different story for the SHIB token. Due to the increasing popularity of cryptocurrencies all over the world, SHIB may also catch the attention of investors looking for an affordable investment option. But studies reveal that as its price fell almost 60% compared to its all-time high, several investors are evading trading SHIB tokens. Nevertheless, several large 'whales' have recently purchased massive amounts of Shiba Inu coins which also indicates that its price may rise in the future.

The second largest crypto meme coin Shiba Inu saw a surge in burn rate and asset price on Thursday amid widespread losses in the digital asset market as market leaders like Bitcoin and Ethereum took a breather. Shibburn portal has spread the word that, in the last two days, roughly one-third of a billion Shiba Inu was sent to unspendable wallets, currently raising the SHIB burn rate. According to a tweet from an active burner of Shiba Inu tokens, part of this amount was eliminated via Amazon and the new SHIB burn portal. SHIB, the 12th-largest cryptocurrency, has a market capitalization of US$8.01 billion and currently trades at around US$0.00001439, according to data from CoinMarketCap.

SHIB's upwards price action is primarily a result of a spike in the token's burn rate earlier this week and expectations around the launch of Shibarium (a layer-2 blockchain to be launched by Shiba Inu).

But, above all, Shiba Inu is largely considered to be a safe cryptocurrency. SHIB is built on the proven Ethereum blockchain, making it relatively safe from attacks. Besides, as adoption and the community grow, the lower the chances of Shiba Inu losing relevance and going into obsolescence. Aside from the technical aspects of Shiba Inu itself, to ensure that you stay safe when investing in SHIB, make sure only to buy SHIB from reputable cryptocurrency exchanges. Once you buy, store your Shiba Inu in a secure cryptocurrency wallet. Never leave your cryptocurrency coins on an exchange for so long.