Check out the detailed case study on several important Shiba Inu price nodes in 2021.
Although Shiba Inu was coined as a Joke, it has grown to become a very useful token. It is a highly promising cryptocurrency Token to investors. The community built a Shiba swap to help reduce the circulation of the coin and reward the holders. Since its launch in 2020, this coin has had several price nodes that you need to be keen an eye on.
At the time of writing this article, the price of shiba inu Set a record high again, an increase of more than 40% over the past seven days. The Shib coin price is approximately $0.000054424 per, and the market value is $21,459,985,022, so there is still enough room for growth. According to CoinGecko, Shiba inu is listed as the 8th largest cryptocurrency. The website stated that the token has risen by more than 45 million% in the past year.
How Shiba Inu maintains high value?
Shiba Inu was created to help the holders to make money. This is why they have created a wide variety of Tokenomics to help increase its value. The first method Shiba Inu maintains its value is through Shiba Swap. This is a decentralized exchange that allows users to exchange coins for another.
The main idea behind the Shiba swap is to encourage holders to stake and earn interest in 3 new tokens in its ecosystem. Once you bury (Stake) your Shiba Inu, you will earn SHIB, BONE, or LEASH. As more holders bury their coins, the total SHIB circulation in Centralized exchanges decreases; hence the price rises due to demand.
The second method is through Token burning. Since Shiba is built on the Ethereum blockchain, they launched their own NFT project. All the fees incurred during purchasing or changing the NFT’s Names are sent to the burn wallet. This reduces total supply hence increasing demand and value.
Shiba Inu has a community to help other coin holders
Shiba Inu has a very supportive community behind it to help other coin holders. They aim to grow together as a community as they target the coin to increase in price even further. The Shiba Inu community also helps other people. For example, the founders sent half of the total Shiba Inu tokens to the Ethereum founder, who used a percentage of these coins to fund many non-profitable organizations.
Some Cryptocurrency communities come together to help their members and other people in need of help. Most notably, Vitalik Buterin used SHIB to fund India Covid-19 response units. This caused SHIB’s price to be halved at the time, and he subsequently burned Shiba Inu worth approximately US$6.74 billion.
Destruction is the act of transferring tokens to an unusable account, thereby removing them from circulation, reducing supply, and increasing scarcity.
Will Shiba Inu coin reach $1?
For Shiba Inu to reach $1, at the time of writing this, the total market cap lies at $14,651,474,375. Can the Shiba Inu reach $1? With Shiba Swap, the burning mechanism, and the flocking of institutional investors, it’s possible to achieve this target in the future. Long-term holders will have something to smile about.
Considering that the cryptocurrency is currently in the bull market, altcoins’ prices like SHIB will rebound on a large scale. Learn all you need to know about Cryptocurrency trading to get a whole understanding of the new currency.
How to buy Shiba Inu?
The early investors of bitcoin and other cryptocurrencies have reaped the highest returns. It took them more than ten years to get where they are today. If you hold Shiba Inu for Several years, you will need to use a secure and stable exchange.
Gate.io is one of the oldest and safest exchanges in the world. This platform offers many features that allow its users to make more money, such as Lending, perpetual contract, leverage, and quantitative trading. Besides, it was among the first exchanges to list Shiba Inu. You can Buy and Hold your Shiba Inu coins in Gate.io for as many years as you can. Follow these simple steps to buy Shiba Inu.
- Sign up on Gate.io exchange.
- Click on Buy crypto on the top navigation menu.
- Enter the amount and choose USDC, BTC, or ETH and then enter your credit card details.
- After confirmation, the coin you have selected will be deposited into your wallet.
- Now click on spot trading and select the SHIB pair of the coin you have just bought.
- Exchange to SHIB, and there you have it.