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Shiba Inu (SHIB) leads the pack of crypto tokens with a history of overcoming adverse conditions. Its introduction in August 2020 was uneventful and the value of SHIB remained low for months. Many began to write it off. However, it surged to give US$11,121,568 for every US$100 SHIB presales purchase within 15 months of its launch. Again, buyers are backing Shiba Inu for a leading role in the coin market revival. The project's strength lies in its focus to create an umbrella platform for the crypto community. SHIB presents a higher network speed, easier transactions, greater interoperability, straightforward usability, purposeful services, and uncomplicated access. Shiba Inu combines the appeal of meme coins and the utility of altcoins to become a worthy digital asset for buyers and businesses.
Shibarium, its upcoming Layer-2 blockchain, is a particular source of excitement for investors. Recently, the community voted that the minting rate of BONE will be adjusted to only 1 BONE per person. This was done to ensure the sustainability of the Shibarium environment. The burning of SHIB has also been going at full steam. Shibburn claims that over 767 million SHIB tokens were sent to dead wallets over the last 24 hours. So far, around 1.2 billion SHIB tokens have been burned in over 104 transactions.Coins.ph, the largest crypto exchange in the Philippines, is also planning to launch SHIB on its platform. Although this development has been delayed, the exchange revealed in a tweet on July 13 that it will be happening "very soon."
Experts predict that the crypto's short-term spikes appear quite promising for bulls. The SHIB/USD duo recently broke its previous downtrend barriers as its value has been stuck since the last week of June. The pair has also realized support from an uptrend that has been operative since mid-June. These small trends in its prices demonstrate that crypto is slowly moving towards a more stable future.
For a long time, Shiba Inu has been viewed as a mere asset that is to be collected, owing to its lack of utility. It is one of the most volatile assets in the market since crypto is affected by the smallest changes in market sentiments. But it is quite definite that Shiba Inu is massively driven by FOMO. Investors are well-aware of the fact that the token does have the potential to exponentially rise in the future. Hence, they do not wish to miss out on the profit opportunities that the crypto might present itself with after its market actions get bullish again.
Shiba Inu works a lot to benefit communities, creating partnerships and alliances at a non-profit level. The native token exchanges drive the whole process with other platforms generating more value for new enterprises and those corporate partners looking for momentum in their eco-space. This philanthropic contribution by SHIB comes as an aggressive community initiative, and it has called for more rigorous participation by other crypto developers too.
SHIB is a volatile cryptocurrency, as are all digital assets. Earlier, the token did not add much utility to the DeFi ecosystem, but right now, Shiba Inu has become quite a lucrative investment opportunity. Investing in SHIB is extremely risky, but it could skyrocket anytime! Hence, if you wish to jump on to try out the trends yourself, then investing in Shiba Inu would be the right move. But volatility-fearing investors can resist further investing in any cryptocurrency at this given point in time.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
