Thinking what does it mean by Shiba Inu is going to the moon with or without Elon Musk? There is nothing, it’s just about the price skyrocketing! The coin has risen over 900 percent in the past month, which is multiple all-time highs; also, with or without Elon Musk is – that he is saying that he doesn’t hold Shiba Inu. This is the hidden thing behind the topic. But what is behind the rally then? The answer is Shibarium.
Compared to the previous month, the price of Shiba Inu has been skyrocketed in the last few days and this has taken the coin to new heights. The Shiba Inu coin is the new version of existing Dogecoin. Shiba Inu coin went on a high to become the 11th largest Cryptocurrency in the world with the market value revealed by Tesla Chief Elon Musk and now it has been brought back to the 13th place. Elon Musk has been revealed through a tweet that he doesn’t own any SHIB tokens.
Whether it’s owned by Elon Musk or not, the cryptocurrency is going on its own way to the moon and risen 50 percent on October 24th and now it’s become the biggest cryptocurrency in the market. But suddenly, one of the Shiba Inu twitters’ account holder made a tweet on how many SHIB tokens are in his kitty? The answer was “NONE”. And this worked more than enough to bring back those Shiba Inu Coins back to the earth.
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Shiba Inu is always on trend and become very popular among other investors who even started a petition to list crypto on Robinhood. You can see that the petition was signed on Change.org and has generated more than 300,000 signatures. The token has gained more than 40 million percent in the past year. Founded in the year of 2020 by an anonymous person named Ryoshi, this coin refers to it as “a decentralized meme token that evolved into a vibrant ecosystem.
Everyone might thing that Dogecoin and Shiba Inu Coins are the same. Shiba Inu coins are developed by the inspiration of DogeCoin, another coin after having a Shiba Inu Cost in it. In today’s market, Dogecoin is also gaining its popularity, as it can be used for payments by sport teams, AMS theaters and much more purposes. This Dogecoin has the market value which currently rated as $324 billion while Shiba Inu coin is around $21 billion. And this price change has brought Dogecoin in the limelight compared to other coins.
Shiba Inu coins are derived with an aim to stand out from other Bitcoins and it is self-proclaimed as “Dogecoin Killer”. This aims to be the Ethereum Based Replacement for Doge Tokens. In fact, there seems to be a Shibaverse out there right now. Baby Doge is another cryptocurrency inspired by the same meme culture.
Unlike other meme coins, the developers of the SHIB Inu token have made numerous efforts to establish a real world experience and usage of the token. The token already has a proper ecosystem in place with Shibaswap, with tokens like BONE and LEASH. Along with the Shibaswap platform, the SHIB token has an NFT marketplace as well.
There is news that the next major development for the meme token comes from the upcoming release of its own block chain. A recent report from CoinMarketCap stated that the new blockchain named Shibarium, a 2 layer block chain is built for the Shiba Ecosystem and it will be using the BONE token and have “ZERO” start for all users.
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