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Inu might soon reach the desired market value after loads of skepticism
The year 2021 has been a roller coaster ride for cryptocurrencies, but the year also presented itself with the best opportunities for the Shiba Inu cryptocurrency. The Shiba Inu coin has been in the limelight for quite a long time now. There have been several controversies around the SHIB token, especially around its future prospects. Generally, Shiba Inu critics have always been quite skeptical about its investment capabilities. Since the crypto was created as a part of a meme, analysts generally believed investors should avoid considering it as a long-term asset. Those individuals who are quite secure about their finances and have good experience treading the crypto market are the only ones who can securely invest in SHIB. Shiba Inu is the second-largest meme coin cryptocurrency in the market and is the greatest competition for Dogecoin. Even though Shiba Inu is not the only meme cryptocurrency in the market, its rising popularity and growing interests in investing in it point that SHIB is walking towards a bright future. Here are certain factors about Shiba Inu that ensure the crypto will reach US$0.0001.
Shiba Inu is affordable
SHIB’s trading price is quite affordable, attracting several crypto investors. Since the price of a crypto trading asset is quite crucial in helping the trader use the percentage change to track the gains depending on the number of coins purchased. Experts believe that at such a price, investors are subjected to a 100% profit and adoption of the crypto in the future. Reportedly, it is more efficient for SHIB to exceed its value than other major cryptocurrencies like Bitcoin or Ethereum.
The Shiba Inu system consists of three tokens, which are SHIB, Leash, and Bone. The SHIB emerged as one of the most prominent components of the Shiba Inu ecosystem. Crypto emerged as one of the most powerful tokens in the market, posing serious threats to other major cryptocurrencies.
Despite popular belief and what critics imply, Shiba Inu is just driven by hype and sentiment. The SHIB network actually supports several useful utilities including NFTs and a Defi-platform in ShibaSwap. The ShibaSwapplatform aims to provide a secure environment for cryptocurrency trading while remaining decentralized.
Coming to ShibaSwap, the crypto developers have created the ShibaSwap decentralized exchange for the SHIB community to build its brand. Decentralized exchanges are peer-to-peer exchanges that allow users to trade cryptocurrencies without relying on any intermediaries. ShibaSwap users can stake their cryptos to generate better returns, just like interests paid on a savings account.
Shiba Inu Creates FOMO Among Investors
The fear of missing out is quite prominent in the crypto market. But FOMO is a factor that certainly pushes the price of SHIB to higher quarters. According to reports, Shiba Inu is the third most-searched cryptocurrency on Google in 2021, which is right behind BTC and Ether. So, quite effectively, if SHIB managed to compete with the largest cryptocurrencies in the market, then, quite surely, it can rapidly create a trusted community of investors who can support the bright future of the crypto.
SHIB is an ERC-20 token
Several investors wonder if they should choose Shiba Inu against its rival meme coin Dogecoin, which gave rise to the maddening popularity of this crypto. But what differentiates SHIB from its rivals is its status as the ERC-20 token. This indicates that the crypto runs on the Ethereum blockchain. Additionally, Ether’s proposal to move to the proof-of-stake protocol might also prove beneficial in this regard.
Shiba Inu is one of those digital assets that is extending its reach towards the metaverse. The Shivers platform is designed to offer an immersive experience for users to have an escapade in the metaverse. The Shivers announcement came at a time when the crypto market was suffering from tumultuous times, giving hope to SHIB fanatics.
Shiba Inu’s passionate community of investors has been pressuring the popular trading app Robinhood to list the crypto to its shortlist of tradable cryptocurrencies. Investors have initiated petitions calling on Robinhood to support SHIB. Finally, in April 2021, the platform took on this initiative by listing SHIB and several other cryptocurrencies along with it, supporting the crypto’s credibility.
Supports Defi Applications
Shiba Inu supports smart contracts, allowing users to lend and stake them, earning passive income in the form of a recurring fee structure.
Musk Happens to Be a Fan
There is no doubt about the impact that celebrities have on cryptocurrency trading. Last month, Shiba Inu saw a major boost in prices after Elon Musk tweeted pictures of his dog Floki. This surge continued since, pushing the SHIB token to all-time highs. Musk’s support for this crypto is enough for speculators to understand its value.