Shiba Inu potentially gained its popularity just a few months ago during 2021. As such, it has observed more massive growth than most other stable coins Cryptos in business today. Shiba Inu is also known to be ‘Dogecoin’s Killer’ and is one of the most famous meme tokens. Yes, it is actually a token for most people who think it is a coin.
The launch of Shiba Inu was conducted for it to act as a direct competitor to Dogecoin. This implies that even this Crypto started off as a joke. It came into the market in the year 2013 when they used a Japanese hunter dog’s name, Shiba Inu. But what truly makes it a potential Crypto today? Here’s a detailed guide on it!
- Anonymity Of The Founder
Just like Bitcoin, Shiba Inu was invented by someone who took the pseudonym, Ryoshi. This has tweaked in the minds of the investors that it could be good luck for it like it was for Bitcoin. This makes analysts expect that Shiba Inu will grow to be a competitor to some of the biggest Cryptos.
- Ecosystem That Is Multi-Token
Shiba Inu is not the only token that they deliver. They are three different types of tokens. The tokens are Leash, Bone, and Shiba Inu. However, the main one is the Shiba Inu token, that are most utilized for investments today.
- Elon Musk’s Support
Elon Musk seems to be a fan of Shiba Inu. As he is one of the most prominent celebrities and the richest man in the world, supporting Shiba Inu, others are driven to invest in it. As such, it continues to be the biggest competitor of Dogecoin. This plays a major role in driving the price of Shiba Inu upward. Musk’s positive tweets about Shiba Inu also spiked the price by a close margin of 300%. This also goes on to show the importance that Elon Musk’s tweets hold for the different types of Cryptos.
- Supply And Market Cap
We all are well aware that Cryptos are one of the most volatile investments. Shiba Inu is no exception to that. The Crypto has a market cap of more than $19 billion. More so, the supply of Shiba Inu tokens is around 550 trillion. This could be a primary reason for why you would want to invest in Shiba Inu. If you do, make sure you visit the Quantumai platform right away to invest in it.
- Shiba Inu’s Connection With Ethereum’s Co-Founder
Most investors are unaware of the fact that Ryoshi gave 50% of Shiba Inu tokens to the co-founder of Ethereum, Vitalik Buterin. Sounds strange because they are supposed to be competitors, right? However, Buterin gave nearly 50 trillion Shiba Inu tokens which were later utilized to help the world fight Covid-19.
Boost Your Portfolio With Shiba Inu Today!
With Shiba Inu’s growth in the past year, you must be determined to believe that it is a Crypto with great potential. If you are contemplating an investment in Shiba Inu, we suggest you go through all the token prospects. It is still a volatile asset listed in the Crypto market and is expected to reach an unspoken height in the coming years.