Shiba Inu is Slowly Inching Towards the Top 10 Crypto List!
According to data from the coin market cap, the market capitalization of Shiba Inu is currently higher than that of Tron. With a current market value of $6.66 billion, it is now the 15th largest cryptocurrency. It is also ahead of Tron’s market cap of $6.33 billion. The company gained traction recently due to the positive news surrounding its ecosystem. In addition, it announced that it has partnered with The Third Floor, a world-class visual studio, to create a new platform for its users called the Metaverse.
The Shiba Inu community is expecting more from the company as it continues to develop its ecosystem. On July 20, the team of Shiba Inu released a teaser video on its Twitter account, which featured a cloudy rainstorm. It was also ranked among the top 10 most purchased cryptocurrencies by whales. According to WhaleStats, the company is currently facing strong buying pressure from whales.
Despite the lacklustre performance of some of the major cryptocurrencies, the market has still seen a massive comeback for memes-coin. Due to the positive news surrounding the company, the demand for its various coins, such as BONE, LEASH, and SHIB, has increased significantly. The listing of Shiba Inu on the global exchange CoinBase has additionally attracted new investors.
Advantages of Investing in Shiba Inu
In the crypto community, Shiba Inu was regarded as the “dogecoin killer.” Due to the positive performance of the cryptocurrency in recent months, it has become more popular among investors. Its various advantages are listed below.
Shiba Inu is one of the cheapest cryptocurrencies at the moment. Its price is currently at 0.002961. Unlike other top cryptocurrencies, which can cost a fortune, Shiba Inu is very user-friendly and can be added to a wallet for a small fee. Even if its price reaches a dollar, investors can still get a huge benefit by adding cryptocurrency to their wallets.
Shiba Inu is regarded as a promising medium-sized cryptocurrency due to its growth potential. It has managed to survive the initial stages of its development and reach a significant level of success.
The company’s impressive trading volume can be attributed to its potential to be a successful business. On its first day, Shiba Inu experienced a steady volume of over $1 million. This is significantly higher than the average trading volume of other cryptocurrencies.
How SHIB Could Make it into the Top 10 Cryptos List Soon?
The emergence of memes-coins was largely attributed to Elon Musk’s Twitter feed. Although it was initially regarded as the dogecoin, Shiba Inu has finally caught up to its competitor. Its decentralized exchange, ShibaSwap, is a part of the Ethereum network’s financial ecosystem. This allows users to get various features, such as the ability to swap tokens and perform other tasks that are not allowed in dogecoin.
Shiba Inu has experienced its share of volatility since its inception. In May 2020, it hit its all-time high of US$0.00003641 before it started to fall victim to the bear market. Despite this, the digital token has managed to gain over 40 per cent in the past year. Due to its potential to perform well in the future, experts believe that the cryptocurrency will eventually make it into the top 10.