What is happening in Shiba coin market and how it will impact its price and value

What is happening in Shiba coin market

Hey guys, welcome to The Comprehensive Minds. In 2021, the crypto market left behind an unshakable stock market in terms of excellent investments. The stock market has been generating revenue for the past 100 years, but it couldn't have been more successful if not for cryptocurrency. 

The combined capital of all the cryptocurrencies surged and went up from 186% to $2.2 trillion. The massive increase crushed the stock market, which could only rise 27%. The Shiba Inu's only one cryptocurrency returned more than 65 million percent. 

In this article, we will talk about what the Shiba Inu coin announced and how it will impact its price and value.  

What is happening in the Shiba coin market

Shiba Inu coin performed incredibly in terms of higher returns and gathered the attention of numerous companies and businesses accepting the token as a payment method. Old and new investors are purchasing tokens in millions, which is only because of SHIB's low prices and efficient payment mechanisms. 

When Robinhood was questioned about listing Shiba Inu on its platform Vlad Teniv, the CEO of Robinhood confirmed the expansion of the company's cryptocurrency offering. He said, "The company is fully aware of the customer needs and requests to enhance the cryptocurrency lineup, which consists of only seven cryptocurrencies." 

But Tenev has stopped talking specifically about Shiba Inu coin listing. The reason that seems to be an issue for the exchange to add support for more cryptocurrencies is the regulators. However, Robinhood is in touch with regulators to list the unregistered securities. 

Tenev also said, "We want to avoid triggering sec registration requirements for cryptocurrencies. We feel very confident about the coins that we have on the platform." The Shiba Inu coin rallied more than 12% on Robinhood listing rumors. 

It shows how investors are crazy about the token listing on Robinhood. The crypto expert said that listing the Japanese breed on Robinhood is favorable for Shiba Inu and will help Robinhood as the number of traders increases. 

Julie Sherrell, a Bloomberg intelligence analyst, attributed the shares dropped to the company's reluctance to list Shiba Inu. She said, "That’s the one coin that they're missing; everyone's waiting for.” Shiba Inu keeps its holders and followers recharged by giving them last updates and introducing new projects. 

Shiba Inu’s official Twitter account occasionally updates its fans with pics, videos, and projects updates. Recently, the Twitter account shared a blurred image of Shiba Inu's dog, which later turned into an announcement of the Oshiverse

A few days ago, the SHIB Twitter handled shared a video of 15 seconds long tweet that said, “Attention! SHIB army, something is cooking. Will you be ready?” In the beginning, the video content read as “Attention, something is cooking.” Then the screen zooms, and we see many TV screens with Shiba Inu logan and a chicken sound in the background with the video proceeding. 

Finally, the video ends with the Shiba logo and two cooking utensils: a fork and a knife. It shows that SHIB is planning something, and it may be a collaboration or something related to cooking. A lot of speculations took place. 

Viewers said that it indicates SHIB's collaboration with Netflix, and the chicken sound indicates KFC, McDonald's, or Burger King. It is worth noting that last week Netflix engineering posted a tweet asking, “What are your thoughts on NFTs.” 

Shytoshi Kusama responded to a Netflix tweet and said, “We would love to talk more about that.” It seems like the SHIB developers are in contact with Netflix or collaborate with a burger outlet. Burger King may accept the Shiba Inu token as a payment method. 

Well! It’s not the first time because McDonald's may accept Dogecoin. Burger King and McDonald's are rivals, and maybe this rivalry is poking Burger King to accept Shiba Inu as a payment method. In the past, the conflict between Shiba Inu and Dogecoin started when Burger King responded to Elon Musk in McDonald's tweet and said, “Only a king knows what the coin does.

” David Gochshtein, the host of the first Shibama responded to Musk’s tweet and said, “Hey, Burger King got to step up your game who's eating a whopper if $SHIB gets accepted.” However, McDonald's has not confirmed to accept Dogecoin for payments, but it opened the path for the SHIB army to knock the Burger King Twitter handle and ask for except Shiba Inu coin. 

The Dogecoin and McDonald's frenzy on social media quickly took a new direction about Shiba Inu and Burger King. David Gochshtein once again asked in his separate tweet, “It would be funny to see McDonald's accept Dogecoin and Burger King accept $SHIB. who got KFC?” 

Well! Quite a drama is going on, but Shiba Inu doesn’t need to be accepted by McDonald's, Burger King, or KFC as SHIB holders can already buy fast food from any of these brands by using a Bitpay card. 

SHIBholders can also get their life necessities from more than 4000 stores across the USA. Eric M, The lead developer of ShibaSwap in the SHIBAMA, asked Queenie to announce that we are no longer a Dogecoin killer. Due to its massive gains, the top trending cryptocurrencies have SHIB in their ticker. 

Some newly created cryptocurrencies are trying to use the fame of Shiba Inu as a shortcut to their success. However, Shiba Inu's popularity made the top 10 biggest crypto exchanges listed for trading on their platforms. 

Amazingly, three out of the top 10 trending cryptocurrencies use Shiba Inu's name in their ticker to benefit from SHIB's popularity. These cryptocurrencies include Shiba, Doge, ranking at number 3236 with a market cap of $74 million. 

Spooky Shiba ranks at number 3037 with a market capitalization of $6 million. Gaming Shiba ranked at number 3457 with a market cap of $8.6 million. Shiba Inu burn has become a regular activity, and it has been possible due to Bigger Entertainment’s project. 

Shiba Inu had a huge token supply of one quadrillion at its inception; however, half of its supply had been sent to the dead wallet by Vitalik Buterin in 2021, still, the remaining 549 trillion SHIBs is the largest token supply in the whole crypto space. Bigger Entertainment has been burning tokens since October 2021 and has burned more than 1.06 billion SHIBs. 

Bigger Entertainment earlier burned SHIB's through the streaming playlist SHIBs merchandise and games ad revenue. Bigger Entertainment said in the tweet, “SHIB army we've got a new way for you to burn SHIB, and it's going down on YouTube. 

Check out Steven's last update for the latest Bigger Entertainment news.” Steven Cooper revealed in a tweet a new way of burning more SHIB. He suggested using the ad revenue generated by his YoutTube channel to burn SHIBs. He tweeted a post, “A few key updates are coming this week. From here on, I'll be doing as many updates as possible in the video. 

So, we can use the advertising revenue generated for even more burns. We believe our YouTube will double our burn rate (yet again) here soon.” Bigger Entertainment burned millions of tokens through their streaming playlist from 20 to 100 music royalties. 

The music company has added more music to their playlist for entertainment and SHIB burning. Recently, Bigger Entertainment added 17 new songs to their playlist. The latest edition includes five songs by Latin artist Mr. Sanchez; the playlist has now reached 664, providing hours of streaming music along with burning SHIB. 

In a tweet, Steve Cooper announced, “17 new songs released today. We've added each to our playlists, including our first Latin artist Mr. Sanchez tracks from producer Rubberhead and hip-hop trio up for hours were also added all songs contribute to #SHIB burns.” Millions of tokens are sent to the dead wallets. 

SHIBURN is the website that keeps track of each SHIB burn and copies the SHIB burning wallet addresses from the Ether scan. SHIBURN disclosed that more than 61 million SHIBs were sent to dead wallets in a recent tweet. 

“In the past 24 hours, there have been a total of 61.7 million SHIB tokens burned and eight transactions so far a total of 410.302 trillion SHIB tokens have been burned from the initial supply of one quadrillion.” These SHIBs were sent to a dead wallet ba1 with eight transactions. 

Among those eight transactions, more than 56 million SHIBs were burned by two transactions of 23 million and 33 million SHIBs. The quantity of SHIB burned in the last two months has exceeded a billion. Bigger Entertainment solely burned 1.06 billion out of these tokens, which is an incredible effort. 

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