Why Shiba Inu Is Going To Explode In 2021
Find out Why SHIB is Going to Explode
The advent and development of blockchain technology have opened up doors of opportunities in the cryptocurrency market. The increasing number of crypto tokens have caused investors to seek out new digital assets that are on their way to make the next big bullish rally.
One such prominent dog-themed coin that is on the way up the market charts is the Shiba Inu token (SHIB). It has seen tremendous growth in May 2021, hitting a record high of $0.0000388.
Although the currency experienced a minor pullback, experts and crypto enthusiasts predict that the coin will soar to new highs this year again. Let us see why the Shiba Inu coin is going to explode in 2021.
Looking At 2021: Is Shiba Inu Price Set For A Massive Rally?
Hailed as the DOGE killer, the new crypto token has already started making new waves in the market. The creators designed it inspired by Dogecoin and is an experiment in decentralized spontaneous community building.
The SHIB token has reached a market capitalization of $3,762,353,546 as of writing and can probably still rocket to the upper echelons of the charts.
Considering the asset price value, community support, and market cap, let us see some of the factors that drive Shiba Inu to explode by the end of 2021.
#1: Its Unstoppable Growth
The developers of the Shiba Inu coin introduced the token to the crypto space in August 2020. The meme cryptocurrency hails itself as one of the "decentralized meme tokens that grew into a vibrant ecosystem."
The price of Shiba Inu has seen exponential growth since its launch in the market. As of 25th May, SHIB trades at $0.000010 and is expected to soar higher in the coming days. Along with its growth since issuance, the price of SHIB surged by almost 2000% just in May, which would raise anyone's eyebrows.
Though the digital asset has seen a slight pullback over the past few days, its increasing interest from Chinese investors and its limited supply would likely drive SHIB to explode tremendously soon.
#2: Unique Features
Shiba Inu has several significant features that make it more than just a joke cryptocurrency. Often referred to as the Dogecoin killer by its community, the token aims to become a viable alternative to the same, as it can "outpace the value of Dogecoin without ever crossing the $0.01 value".
SHIB is hosted on the Ethereum blockchain and thus is an efficient ERC-20 token. The developers of the coin have mentioned in their white paper, hilariously named the "Woof paper," that the Ethereum blockchain makes SHIB a secure and well-established decentralized currency in the market.
The coin also has strong support by a large community of coin holders who vigorously promote and support the coin on social media like Twitter and Reddit.
Yet another unique feature of this digital asset's growth is that it has been listed on several famous crypto exchanges like Binance, Huobi, FTX, etc. As per recent announcements, Binance's Indian Crypto Exchange will list SHIB Token, and the token will also be listed in the Binance Innovation Zone. This news has spurred further interest in SHIB on multiple social media channels.
#4: Why Is Shiba Inu Going To Explode In 2021 to 2026? Experts Speak Up
This new meme cryptocurrency has been drawing attention from investors across the globe. Several experts and analysts predict the price range of SHIB for the coming years.
According to TradingBeasts, the Shiba Inu coin price can rise to $0.0000127, growing to $0.0000184 by the end of 2022. WalletInvestor predicts that the price of SHIB will increase from $0.00000864864 to $0.000015 within a year, making it a viable investment option for investors.
The Shiba Inu Ecosystem
The Shiba Inu ecosystem aims to be the best decentralized ecosystem enriched by its own DeX. There are three significant tokens in the Shiba Inu ecosystem. Along with SHIB, there are also the LEASH token and the BONE token.
Both the tokens differ from SHIB in several factors, of which one is the supply limit. LEASH has a supply limit of 100,000 tokens, while BONE's supply is limited to 250,000,00 tokens. The SHIB has a maximum supply of 1 quadrillion and currently has a circulation supply of 394.796 trillion.
Yet another significant part of the Shiba Inu ecosystem is ShibaSwap. The three tokens establish themselves through the ShibaSwap exchange. The major purpose of this is to create a safe environment for trading cryptocurrencies. They emphasize that their loyalties lay closely with the holders of the Shiba Inu tokens and thus keep the system completely decentralized.
The Token Burn
The developers took an unforeseen and unexpected decision when they locked up 50% of the SHIB token in Uniswap and gifted the remaining 50% to the Ethereum creator Vitalik Buterin. This propelled the Shiba Inu token to gain tremendous traction soon after the minting of 1 quadrillion tokens.
But as per recent news, Vitalik Buterin has buried 20% of SHIB, sending a total of 410 trillion SHIB tokens to an unusable and inaccessible wallet. But, by effectively removing a large portion of coins from circulation forever, the price of the SHIB will rise sharply with the reduction in its total supply.
This strategic move will eventually drive SHIB's price to explode tremendously, probably by the end of this year.
Why Is Shiba Inu Going To Explode In 2021?
Thanks to a solid team and its strong community support, the Shiba Inu project has everything needed to explode. The coin rose by more than 300% with Elon Musk's simple tweet that he is looking for a Shiba pup.
Shiba Inu has drastic similarities with the Dogecoin, of which one is the likeness in their name emerged from a meme that features a Japanese Shiba Inu dog. But according to the developers, the coin is a new and improved version of Dogecoin.
The DOGE killer thus aims to accelerate more decentralization in the crypto community. Eventually, the reduction of its total supply and ever-growing support will further push SHIB price higher to explode by the end of 2021.
Shiba Inu has thus shown significant growth over the past few months. SHIB is gaining considerable attention from the crypto community, successfully paving its way to the investor-favorite list with its rally. If it continues to keep its momentum, as per predictions, the Shiba Inu token could likely explode in 2021, making it a potential opportunity for investors.
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