Once called the ‘Dogecoin Killer’, Shiba Inu is losing its charm . The price drop is in line with cryptocurrencies across the board after the price of Bitcoin crashed to a six-month low. The total market cap of Shiba Inu has dropped to $11.35 billion. It was as much as thrice the current value during its golden days.
Read moreWhat happens if a Shiba gets 1 cent?
With a total supply of nearly 590 trillion SHIB coins, hitting the $1 price point would result in a market capitalization just short of $590 trillion . Reaching $1 per token would mean that SHIB’s market capitalization would be roughly 650 times the market cap of Bitcoin.
Read moreIs it too late to buy into Shiba?
It’s not or never too late and you can as well make a lot of money. You can not call Shiba Inu token a scam, but overall they serve no real purpose in cryptocurrency world. They are meme coins (Shitokens). These tokens are 100% Premined and are made just to make the developers billionaires.
Read moreShould I still buy Shiba Inu?
While these developments may be promising, it’s important to keep in mind that Shiba Inu is still an extremely risky investment . It does have more real-world utility than in the past, but the crypto space is highly competitive. At the moment, there’s not much that sets Shiba Inu apart from other cryptocurrencies.
Read moreWhat did Shiba Cost January 2021?
Shiba Inu Price Surge: $100 Investment in January 2021 Nets $53 Million ! The Shiba Inu meme coin is undoubtedly the breakout star of the cryptocurrency industry this 2021. In fact, a $100 investment in SHIB last January would have made one a millionaire!29 Ara 2021
Read moreIs it too late to buy shiba inu coin?
Probably the most compelling case that it’s too late to buy the coin is that history isn’t on its side . Take a look at other cryptocurrencies that have skyrocketed in the past over a short period of time. All of them ended up eventually plunging by at least 90%. Shiba Inu could very well suffer a similar fate.
Read moreIs Shiba Inu burning coins?
has started testing the burn portal developers announced last month. By burning the tokens, the supply is reduced, effectively making Shiba Inu deflationary. According to a website which tracks the burning of Shiba Inu, over 410 trillion tokens have been burned so far .
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