Shiba Inu is an ultimate ERC-2 Altcoin. The developer created it on the ethereum blockchain. The anonymous developer, who goes by the name Ryoshi, created an anonymous individual blockchain. The person named it Dogecoin Killer. There are almost 400 trillion Shiba coins available. Normally, the Shiba in coins go by the Shin tokens as well. With up to 400 million tokens in circulation and a max supply of one quadrillion tokens, it is quite doing well for something that developed only in 2020.
Yes, you read it right. The currency was developed in August 2020, modeled on Dogecoin. But how is it faring currently? Let’s see. Both Dogecoin and Shiba inu, the creation of Ryoshi, have not seen the best couple of weeks so far.
Both coins have noticed a gradual dip. Hence, this dip has left the value of the coin hitting below their all-time highs. Although the hype related to the meme coins going down, it is no surprise that the value is going down for Dogecoin as well.
The Market And Shiba Inu
Although many think that dogecoin and Shiba Inu seem to be back on top of their game. Nonetheless, it continues to hit the value out of the park with its exceptional points. From the initiation of the weekend of the crypto coins to seeing the massive uptick in the prices, let us see how it is faring.
The market which many speculated to be the bear market continues to rise back up despite all the issues. Hence, the market has noticed that the coins have recorded up to 15% gains in a single day. the weekend with new possibilities seems to showcase that dogecoin is trying hard to hold its previous value of $0.20 for a whole week.
Though the value of the coin struggled in the market, many noticed that the momentum has slowed down. Hence, the week closed with a low tempo in terms of quality. Although it had a slow start, it soon picked up its speed in the market. Shiba Inu coin price started to mark its journey as well. The movement in terms of the value of the coin picked up in the early hours of the morning.
From the ending of $0.20, it shot up at over $0.25. Moreover, the weekend started with a bang. The rally continued to rage on despite the low dip. The past 24 hours worked wonders as they provided what the coins needed. Hence, Dogecoin saw a 1.07% growth.
Shiba Inu Coin Price is Not Behind
The coin value of Shiba Inu was not behind as well. The price of the “doge-killer” surged Jn the past weekend. Keeping in line with the movement of the dogecoin, it showed how high it can go. SHIB price rose from $0.000006 to over $0.00000885. Although it did take a hit. It hit toward the current price of $0.00000784.
Let’s See What The Chart Says About Dogecoin And Shiba Inu
Many traders who haven’t invested in it expected the dogecoin and the Shiba Inu coin to be in the pump and dump. They even thought that the currency would die out every time. Although it will launch in 2020, it is the opposite of what many expected it to be.
The meme coins are showing the digital currency market that they are here to stay, and slay. Although these coins started to circulate as a joke. Both the Shiba Inu and dogecoin have seen what one would claim to be a worthy opponent. The significant work that has gone into the development of the projects is making everyone take it seriously. Hence, it is not in the realm of a joke anymore.
As the asset continues to evolve, so does the thought process of those who are cryptocurrency enthusiasts. Hence, with each day passing by and the value shooting up, the investors are choosing these meme coins. They are not just a meme coin but a serious form of investment. They may offer serious and unique use cases in the future.
Ending Note
Finally, the coins have reached a new high and will continue to go higher as the traders expect. Most are believing that the value of the coin will go up.
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