The Cryptwerk online directory lists only 126 little-known sellers who accept SHIB tokens for payment. A quick look at Etherscan reveals that as of November 15, there were almost 963,000 unique wallet addresses containing SHIB tokens. Despite being smaller than other DEX protocols such as Uniswap and Sushi, the ShibaSwaps SHIB token recorded the largest gains in this October. The earnings in SHIB tokens since its debut just over 15 months ago is surprising.
Shiba tokens are listed and promoted on ShibaSwap, its own decentralized exchange. The tokens feature the same Shiba Inu dog as Dogecoin, which has become very popular lately. Shibu Inu are cryptocurrency tokens that, according to its website, allow users to store trillions of them. He also supports the NFT Art Incubator, which invites dog-inspired artists from all over the world to bring their Shiba Inu to the NFT market.
The Shiba Inu, dubbed “the dogecoin killer” by his supporters, has now overtaken dogcoin, which takes up no space. Shiba Inu and Dogecoin are meme coins that are cryptocurrencies associated with a topic, such as Shiba Inu in the case of Shiba Inu and Dogecoin but are often perceived as an internal parody or joke rather than digital a product that actually has some use. Since the SHIBA INU meme token is enjoying a positive development in the cryptocurrency space, many people have become more interested in it. Whenever Musk posts about his dog or the Japanese Shiba Inu breed, investors tend to hoard coins inspired by the Shiba Inu.
Second, Tesla founder Elon Musk tweeted a photo of his new puppy Shiba Inu Floki in the first week of October, spawning a significant retail investor in the meme token. In addition, cryptocurrency investors were delighted with the launch of Shiba Inu NFT, as well as unconfirmed rumors that SHIB will be included in the popular cryptocurrency trading app Robinhood. Cryptocurrency investors are well aware of the nearly 800,000,000% gain that Bitcoin has made since early July 2010 and believe that vital gains remain possible even if SHIB tokens are up more than 10,300,000% since August 1, 2020.
Cryptocurrencies can be extremely volatile, and SHIB’s recent advances could leave them vulnerable to significant drops. Remember that Shibas’ price is driven by hype and popularity, so if it becomes less popular it will probably be the worst investment. While it may cause even more hype than when it hit an all-time high in May, it could hit that price within 1-2 weeks after major cryptocurrencies like Bitcoin and Ethereum hit new all-time highs.
Both cryptocurrencies have a huge amount in circulation, but SHIB has a much broader offer, resulting in a token price much lower than the DOGE price. Both wallets support over 1000 different cryptocurrencies including Bitcoin, Ethereum, Dogecoin, Ripple and all ERC-20 tokens (including Shiba Inu).
Cryptocurrency mining involves the process of obtaining digital assets, tokens of appreciation, if you will, by solving cryptographic equations on your own hardware. On ShibaSwap, these tokens can be used to “dig” (provide liquidity), “bury” (stake token), and even “extract” (exchange one token for another). They will retain control of the funds and will be able to withdraw them at any time, but their average contribution to the pool will determine their share of the Shiba Inu prize.
In addition, you can also earn lifetime commissions from your cryptocurrency trading commissions on the BuyUcoin exchange and learn free tricks to earn Shiba Inu. We are always available for your support to speed up the process at BuyUcoin Freshdesk. Check out our Best Notebooks for Cryptocurrency Mining to get a good idea of which systems are best for mining SHIB based on their intrinsic characteristics, size, and our internal benchmarks.