The price of Shiba Inu cryptocurrency has dropped significantly in the past few days. This is an unfortunate situation for Shiba Inu crypto, as the crypto has not yet proved its utility. In this article, we will consider the utility of the Shiba Inu and its hype. If you’re interested in purchasing Shiba Inu coins, read on to discover whether the crypto is worth buying.
Price of Shiba Inu
The Shiba Inu (SHIB) cryptocurrency token has seen a drop in price over the past five months. The token is currently trading within a narrow range, compared to its peak in January. Its biggest problems have to do with a reduction in transactions, and a decline in the holder’s account. Despite this, some analysts are predicting a strong comeback for the Shiba Inu in 2019.
Shiba Inu tokens are traded on major exchanges, and can be purchased with a credit card. They are traded in different trading pairs, and their price depends on the performance of the flagship cryptocurrency Bitcoin. This means that when the market is performing poorly, the value of the Shiba Inu token will suffer.
This digital asset has a wide range of uses, and its use case continues to grow. Moreover, its approach is unique compared to other digital assets. Its entry barrier is lower than that of a traditional coin, so it’s easier to get started with this cryptocurrency.
Shiba Inu is often referred to as “meme currency” and has a viral following of 1.2 million followers on Twitter. As such, its price often makes headlines. Originally, it had a total supply of 1 quadrillion tokens. The creator of Shiba Inu sent half of the total supply to Vitalik Buterin, co-founder of the Ethereum blockchain. Buterin burned 90% of the tokens and donated 10% to charity. The Shiba Inu coin is a great example of a decentralized currency with a strong community.
Its hype
If you’re interested in cryptocurrency, you’ve probably been hearing a lot about the Shiba Inu coin. This unique digital currency has massive followers on social media. While there are warnings about its pump-and-dump reputation, the crypto seems to have a lot of potential.
The Shiba Inu coin’s price has fallen significantly since late October, when it hit an all-time high of $0.000038. The cryptocurrency was down more than 21% over the past week, and it was down 23% over the month. Currently, it is difficult to predict if this cryptocurrency will recover its lost value.
The Shiba Inu coin has garnered a lot of attention in recent weeks, especially when Vitalik Buterin announced his intention to donate 50 trillion of his own to an Indian relief fund. The Shiba Army has also rallied behind the coin. However, the Shiba Inu is just another token in the vast crypto universe, with diverse themes and use cases.
The Shiba Inu is a cryptocurrency inspired by a dog. As of this writing, the cryptocurrency currently ranks 8th in terms of market cap. It has surpassed dogecoin in the last seven days and is now worth $30.9 billion USD. Despite the hype, experts recommend researching the cryptocurrency before investing.