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| pic credit: CoinQuora |
Who knew a meme currency could set so many records so quickly after its release? Yes, we're discussing Shiba Coin. The Shib token, often known as the "Dogecoin Killer," is gaining in popularity. "Shiba Inu has delivered life-altering profits in a little over a year," according to a report from The Motley Fool.
The Shib coin reached an intraday price of $0.00008841 on October 27. Since it first debuted 15 months ago, its price has increased by 17,335,194% in value. On August 1, 2020, a $10 investment in Shib would have yielded $1.73 million on October 27, 2021. Isn't it a fascinating number? That amount of profit in such a short period of time does not appear to be a hoax.
Will the price of a Shiba Inu continue to climb in order to remove zeros from its price and create additional millionaires along the way?
Shiba Inu has been working hard over the last few weeks to maintain its position and not give up the current resistance, ensuring that the coin has a bright future ahead of it. However, many investors are undecided about whether pulling out now would be beneficial.
Many individuals feel that the Shiba Inu does not have any real-world use case. This appeared to be the case when the coin was released with the sole purpose of dominating Dogecoin.
However, tremendous work has been achieved over time that refutes the idea that the coin is simply a "meme coin." So, based on the existing situation, holding on to it won't be a bad move.
We had so much fun tonight, according to a tweet from a Twitter user. #Shibarmy, thank you. We're looking forward to many more events, including a Christmas burn party! I think it's great that the money managers are shorting the stock right now. It indicates that they are paying attention and intend to sabotage the momentum. Buy, buy, buy! #Shib.
This means that there will be additional token burning activities during the Christmas party, reducing the supply of the token in circulation even more. Shib's developers are also working to burn as many tokens as possible because the current supply appears to be too large.
Also Read: Does Shib coin have any potential? Shiba Inu Coin News And Price Prediction
Meanwhile, there are numerous updates that assist us in determining what fate Shiba Inu may face in the future. Take, for example, the announcement that AMC will accept Shiba Inu as payment for movies. While the effort is still in progress, it has already proven to be a significant step forward for the Shibarmy community and a foundation for the Dogecoin Killer's future.
A recent article on Bitcoin.com read: “AMC CEO Says Bitpay Will Support Shiba Inu — AMC Set to Accept Shib Next Quarter.” Not just that, a tweet from Adam Aron, the CEO of the AMC theaters further locked the trust of the investors in this meme coin.
The post read: “Attention #ShibArmy: Our friends @Bitpay decided to support Shiba Inu specifically because I asked, so AMC can take Shiba Inu for online payments of movie tickets and concessions. @AMCTheatres to be the first @bitpay client to accept Shiba Inu. Timing 60-120 days. This is a WOW!”
In a reply, the Shib official page on Twitter also wrote: “We love Shib, and we love movies. #PayInShibAtTheMovies coming soon to @AMCTheatres! Thank you also to @CEOAdam and @BitPay, we are excited to have you form part of the #ShibArmy family!”
The movement to place Shiba Inu among the world's top cryptocurrencies is picking up speed. While we remain suspicious of Shiba Inu's inclusion on Robinhood, the coin is gaining acceptance on a number of other platforms. "
Also Read: You can become wealthy by simply holding 1 million Shiba Inu tokens- Shiba Inu News
Crypto Exchange Gemini Adds Shiba Inu Support – Shib Investors Hopeful Robinhood Will Be Next," according to an article on Bitcoin.com. Investors will now be able to trade Shib tokens on the Gemini platform as well. That is really fantastic news. Despite the fact that the token's price hasn't been very outstanding in recent weeks, the Shiba coin's popularity does not appear to be waning.
Gemini also used Twitter to advertise Shiba Inu's listing, as well as a few other options for trading on its platform. Meanwhile, Coinbase, the most prominent cryptocurrency exchange, just made Shiba Inu available for trading to New York residents. Furthermore, the platform has offered Shib trading pairings for its consumers. And, as we all know, Kraken will shortly begin trading the meme coin.
ChangeHero is another exchange that has recently included Shiba Inu for trade. Shib is now one of the 80 cryptocurrencies accessible for trading on this platform as a result of its listing. Not only that, but after launching the meme token on its web exchange, the company made a zero-exchange-fee deal for a limited time.
When it comes to exchanges, another topic that has gone popular on the internet is Shiba Inu's listing on the CoinDCX platform. The country's main exchange is primarily focused on providing Indians with a platform to trade cryptocurrencies.CoinDCX, as a direct competitor to WazirX, boasts unrivaled popularity, with over 3.5 million users.
Why is Shiba Inu's listing on CoinDCX such a significant step forward for the entire community?
Despite the fact that cryptocurrency became popular in India later than in other countries, the number of traders in the country is growing at an exponential rate. The digital token market in the United States and India is similar in size, with 16 percent of US people owning cryptocurrencies. Shiba Inu will get access to additional investors across the country as a result of its listing on CoinDCX.
As a result, considering the fact that this meme token is not listed on many Indian exchanges, demand for the coin will continue to rise. Apart from being listed on renowned exchanges, Shiba Coin has made significant developments that place it ahead of the market's oldest competitors. To put it another way, more businesses are following suit and accepting Shiba currencies into their payment systems.
A tweet from XBottle, an e-commerce company selling smart coasters said: “Hot drinks, cool style. We are happy to announce that we will accept #Shib as one and only #crypto #payment for our online shop! http://xbottlex.com Thanks to @NOWPayments_io for making this possible!”
Aren't these developments pointing to a positive Shiba Inu coin trend that we might see in the coming weeks or even days? Many traders are overly optimistic about the coin and are anticipating the next ATH, when the token's value will be reduced by more zeros. And the entire Shiba Inu community has put forth a lot of effort to make the seemingly impossible possible.
For example, when ShibaSwap, a decentralized exchange, launched in July, token holders were able to stake their tokens. As a result, users are encouraged to hold on to their investments rather than selling them too soon.
Companies realized the popularity of the Shiba Tokens after receiving several requests from the community to list the token on different exchanges. As a result, a number of popular platforms, like CoinDCX, ChangeHero, WazirX, and others, began to offer trading with the meme currency, making the token more accessible to investors.
As a result, the buying trend will continue to rise. Furthermore, additional listings resulted in a larger Shib token community as well as increased brand recognition for the digital asset.
Despite the fact that Elon Musk did not own any Shib, his tweets contributed to the Shib Token's surge in popularity, either directly or indirectly. That is something we cannot ignore. The Shibarmy appears to be growing and leaving the haters behind. Major announcements are also expected in the following months, according to the community.
While nothing is guaranteed at this time, there are valid reasons for Shiba fans to anticipate major changes in the future. Here are a few adjustments that, if implemented in the next few days, will accelerate the Shiba coin's journey to the moon.
The first is the Robinhood listing. Although the platform stated that it is not in a rush to make choices on the listing of new coins, the petition in support of the listing appears to be nowhere near completion. Amazon may begin accepting Shiba Inu as a form of payment.
More tokens will be burned, reducing the quantity of Shib tokens in circulation. Acceptance of the token as a payment option by more firms, such as XBottle, will raise awareness of the coin among investors. There are a lot of things going on right now.
And ShibARMY is working hard to increase the token's value in the future. As a result, it's no longer just a meme coin, but rather a strategy to gain more power over other currencies in the long run.