Shiba Inu (SHIB) is a token or a popular meme coin based on Ehtereum Blockchain technology is an alternative to Dogecoin(DOGE). Shiba Inu is available in abundant with a total supply of a quadrillion.
Shiba Inu token support NFT art and also developed a decentralized exchange called Shibaswap.
Rise in Shiba Inu Value
Shiba Inu has Surged about 70% in a week, outracing Dogecoin. Shiba Inu has gained a position ahead of dogecoin and is in 9th position based upon market cap.
For more than a week SHIB is in the top 10 lists and touched an all-time high at 0.00008616 dollars after being listed on the Robinhood trading platform.
You can check the current price of other cryptos here.
Shiba Inu Vs DOgecoin
The two cryptocurrencies are rivals to each other as SHIB is termed as “Dogecoin killer”. Both these currencies are exchanging their position quite frequently. Dogecoin is currency placed at 10th position but has outpassed SHIB much time in recent time.
This meme cryptocurrency comes with high risk and price change and great gain which makes them irresistible for the investor. Altcoins like DOGE and SHIB is based on Ethereum Blockchain and depend on community growth.
Memecoin : Is inveting in it risky or not ?
Both DOGE and SHIB took the crypto world by storm and introduced many people to blockchain technology.
These coins have become a popular investment option for crypto traders wh saw these tokens that rejected the conventional protocol of trade of value.
For traders, it is very difficult to know the right time to invest in these memecoins.
Currently, SHIB and other meme currency have found a huge investor in recent time and are valued equally as other cryptocurrencies.
While uncertainty looms around cryptocurrency globally the memecurrency still has a long way to go before it is taken seriously, especially in comparisionto its much stronger counterpart like Bitcoin.