In the world of meme coins, cryptocurrencies with an adorably beautiful Shiba Inu mascot have taken center stage. Dogecoin (DOGE) was the first doggie cryptocurrency, launched as a joke in 2013 at a time when both Bitcoin and the Shiba Inu “doge” meme were popular. Doge, much to the surprise of its designers, became extremely popular soon after its debut.
Many of its fans, however, lost interest in the project until it was brought to the public attention by Elon Musk and members of the SatoshiStreetBets bitcoin community on Reddit.
Shiba Inu (SHIB) is a cryptocurrency that was established in August 2020 with the goal of surpassing Dogecoin. Shiba’s quest earned it the moniker “Doge Killer.
” Shiba has largely benefitted from the tokens’ similarities and trailed Doge thus far.
Because they share the Shiba Inu mascot, Shiba’s price soared when Doge regained popularity, and investors felt Shiba might be the next Doge.
The Shiba Inu team just launched ShibaSwap, a decentralized exchange (DEX) where users may earn interest by staking their Shiba tokens.
In 2021, the cryptocurrency market hit new highs, reaching a market value of $2 trillion and showing signs of expansion.
Shiba Inu has been one of the top cryptocurrency winners in 2021. (SHIB). Since its all-time lows in November 2020, the cryptocurrency has risen by almost 500k percent.
Shiba Inu Price Chart – Source: CoinMarketCap
As a result, despite its recent poor performance, individuals who bought in early are still sitting on a substantial profit.
Shiba Inu has taken over Dogecoin, making it the most popular meme coin in the world.
Shiba Inu (SHIB) was launched in August 2020 with the goal of dethroning Dogecoin. Shiba’s quest earned it the moniker “Doge Killer.”
Shiba has benefited mostly due to its resemblance to Doge up to this point.
Shiba’s price soared when Doge became famous as a result of Elon Musk’s tweet and proclamation, and investors speculated that Shiba may be the next Doge.
Shibaswap, the Shiba Inu team’s biggest move, was introduced in July. The introduction of Shibaswap in July was one of its most significant initiatives to date. Shibswap is a decentralized exchange that allows investors to trade and stake Shiba Inu coins.
Shiba Inu is expected to gain the greatest value from this DEX’s staking functionality. That’s because their Shiba Inu is imprisoned for six months after the stake.