Shiba Inu's value surged by 50% in 24-hours through 7.45 am New York time on Sunday

Shiba Inu is one of the new cryptocurrencies that has become extremely popular in a short span of time. Over the weekend, the digital token broke records by becoming the 11th biggest cryptocurrency by market capitalization. According to ConGecko.com, Shiba Inu's value surged by 50% in 24-hours through 7.45 am New York time on Sunday and reached a record price over a period of time. On the back of its sudden value spike, experts say that Shiba Inu cryptocurrency has the potential to make it into the top 10 cryptocurrencies list sooner than expected.

The recent bull run has intimidated many investors to try their hand on Shiba Inu. But before investing in the meme-based digital token, it is a wise move to learn all the basics about cryptocurrency. Although Shiba Inu has huge technological advantages, it is comparatively simple with many emerging new cryptocurrencies. Unlike Cardano, Tron, Binance Coin, and Ripple that have the favor of traditional banks and insurance companies, Shiba Inu is completely decentralized with no Chief Executive Officer or a transparent team. However, Elon Musk has got every meme-inspired cryptocurrency back. Yes, whenever Elon tweets or talks about either a digital token or Shiba Inu dog itself, one or many of the meme coins prices go up like crazy. Shiba Inu cryptocurrency has experienced the same value spike recently when Elon posted a picture of his new pet, a Shiba Inu puppy.

The recent price spike came as a major advantage to Shiba Inu investors. Besides, a petition on Change.org influencing to list SHIB on the Robinhood platform has got over 300,000 signatures. Shiba Inu has also rolled out a number of non-fungible tokens (NFTs) in its ecosystem, adding one more reason to buy it. Although Dogecoin has also experienced a price surge in the past 24-hours, it is Shiba Inu that gained momentum among crypto investors.

Basics of Shiba Inu

Created by an anonymous name 'Ryoshi' in 2020, Shiba Inu token functions on ethereum blockchain. According to its founder, the coin is 'an experiment in decentralized spontaneous community building.' Unlike its competitor, dogecoin, which has no cap on a maximum number of units, SHIB can only extend its supply up to 1 quadrillion.

Compared to other cryptocurrencies that made it to the top investment choice list, Shiba Inu has a smooth path. Most of its adoption was due to constant buzz on the internet. The SHIB white paper lists leaders of international chat rooms, social media influencers, and meme-makers as part of the community behind the digital token's success.

Advantages of Investing in Shiba Inu

SHIB tokens were called the 'dogecoin killer' in the crypto circle. Fortunately, the cryptocurrency has proved to be so in recent months. SHIB is seen as an attractive option for many experienced traders and crypto professionals. Some of the advantages of the digital token are listed as follows.

One of the Cheapest Cryptocurrencies: At the time of writing, Shiba Inu's price was at 0.002961. Compared to other top cryptocurrencies that cost a fortune, SHIB tokens are very cheap and user-friendly. If investors add SHIB tokens to their wallets, they can evidently reap out big benefits even if the cryptocurrency reaches US$1 value.

It is at Medium Asset Now: Shiba Inu's market capitalization is at US$21 billion now, which means it is a medium asset. However, SHIB must've started from small assets and thrived, survived, succeeded, and broke out from the zone to reach medium. Therefore, it shows the potential of cryptocurrency.

SHIB has Extensive Trading Volume: Trading volume determines if the digital token is going to be a success or not in the future. On its debut day, SHIB has recorded a steady volume of US$1,604,789 compared to other cryptos that record 10s and 100s.

How SHIB Could Make it into the Top 10 Cryptos List Soon?

The meme-cryptocurrencies have been coming to light since last year, thanks to Elon Musk's Twitter feed. Although it was dogecoin that made it in the headlines every now and then, Shiba Inu has finally had its time to outshine its competitor. Its ShibaSwap decentralized exchange makes it part of the decentralized financial ecosystem on ethereum and allows its users to get certain functionalities like swapping tokens, staking, and fainting yield, that is not allowed in dogecoin.

SHIB tokens have no escape from the bullish market. They had their fair share of volatility since inception. In May 2020, the digital token reached its record price at US$0.00003641 before falling victim to the bearish trend. However, in a long run, the SHIB token has registered a 40,500,000% gain in the past year. This represents the market trend and Shiba Inu's potential to change things upside down. Besides all this, experts predict that SHIB will join the top 10 cryptocurrencies list in the coming days.