About Shiba Inu
- Created in August 2020
- Modeled off Dogecoin
- Made by the same anonymous founder as Dogecoin: “Ryoshi”
- Over the past 10 months, Shiba Inu has had an ROI of 590,000%
- Dogecoin was created as a joke as a cryptocurrency that was not intimidating to use based on the Shiba Inu doge meme
- Dogecoin was never intended to have any real-world value, and the creators had never expected it to pick up so much traction
- Around mid-2020 dogecoin began to surge as people realized their ability to take the coin to 1 cent
Where does Shiba Inu come into all of this?
- In August 2020 as dogecoin was in the middle of its frenzy Shiba Inu was created
- According to “Ryoshi” Shiba Inu could outpace the value of dogecoin without ever reaching 1 cent
Why Shiba Inu?
- Operates on the Ethereum Network
- 50% of Shiba Inu was given to Vitalik the creator of Ethereum
- Shiba Swap (Provide liquidity, Buy/Sell NFT’s, Stake your tokens)
Why has the price been soaring?
- Getting listed on major exchanges
- Elon Musk Tweets (400% rise)
- People believing this might be the next dogecoin
- A general acceptance of cryptocurrency as more institutional investors began to accept the reality that cryptocurrency is here to stay
It's unlikely that Shiba Inu will reach 1 cent as in order to do so the market cap of the currency has to be over 3 trillion dollars.