what is common in SHIBA INU, DOGE coin, SAFE MOON? All three of them are meme coins, they were created to for humor or comedy purposes All three cryptocurrency has got a boast due to Elon musk's tweet. Elon musk has recently supported meme coins. The buzz of these cryptocurrencies has been increased. The return from these cryptocurrency has been very good in 2020. Due to these return many of the investors were interested in them. Many big influencers like elon musk have been talking about it. That is why many new investors are turning to cryptocurrency. Now talking about big cryptocurrency where more money is invested by larger number of people like bitcoin, Ethereum with a very good amount of return that is why people are looking towards new cryptocurrencies where there is a higher possibility of return.
Talking about SHIBA INU in last year, it has given a return of 500000% and DOGE coin has given a return of 26000% in last 6 month. People are looking for similar return with new meme currency and people want to learn more about these meme cryptocurrencies. Friends, how was DOGE coin and meme coin started? In 2013, during the cryptocurrency boom, cryptocurrency meme was very popular and cryptocurrency frauds were also happening. During the same period, two software engineers invented their own cryptocurrency to make fun of bitcoin. At the same time, in japan memes were very popular of a dog breed SHIBA INU they picked the logo of the dog breed and created their currency named DOGE coin.
Telling about the recent return of DOGE coin is 26000% in last 6 month main reason behind the rise is the support from elon must and his tweets. DOGE coin is based on similar technology as bitcoin. DOGE coin market cap is of 42 billion dollars and is in the top 6 cryptocurrencies. DOGE coin is only being used for payment only. Recently, there was news that DOGE coin creators with Elon musk working together to increase its use and making it fundamentally strong. But the news was not verified and their were other news such as their is no development team of DOGE coin. so meme coins are not fundamentally strong the price increase is due to the hype and buzz with the support of elon musk, the performance of meme coins is higher.
According to recent example, DOGE coin is a return of 26000% on 11th April, it's price was 4rs. After the elon musk tweet, on 17th April it's price was 32rs. After that with a major dip in may in market DOGE coin is still sustained on 24rs. So somehow, with elon musk tweet and people interest in meme coin this cryptocurrency is performing very well. Like you can make your own app based on Ethereum technology similar uses are not available in this currency and any other meme coin.
But this video is not based on DOGE coin this video is about DOGE coin killer. During 2020, during the rise of DOGE coin DOGE coin killer was introduced that is SHIBA INU coin. To beat DOGE coin, they have used extremely good marketing by saying that they are the DOGE coin killer on their website. Based on the performance, SHIBA INU has given a return of 50000% in last year. In last one month, the return percentage is 400% It's price in Indian rupee is 0.000636 and it is expected to rise to one rupee by the SHIBA INU community. will and why it will rise to one rupee watch the video completely and why would it may not rise up to one rupee. This DOGE coin killer SHIBA INU was developed by a man named riyosi with a limited token of one quadrillion in August 2020 which are not actually limited.
To make it more decentralized they have used one more marketing technique. They have given 500 trillion token to Ethereum founder. what he did with these coin, I will tell you later. Other 500 trillion token were given to a exchange named Uniswap. Talking about the wallet holding the currency 10% is hold by one wallet and 10% by another rest 50% is with Ethereum founder and 30% to uniswap. This cryptocurrency is mostly decentralized but in case of DOGE coin, 27% is hold by one wallet only now the wallet and affect the prices by buying and selling the coins. SHIBA INU is also only used for payment only. One US website named US gold is accepting SHIBA INU for payment you can buy gold with this currency. Now looking at the chart it was introduced as DOGE coin killer in August 2020 and it's price in April 2021 was 0.0002 then in may through Saturday night live and elon musk tweet, the price went up to 0.00038.
With the help of the tweets, this coin was in top 20 currency with a high increase. Looking at the chart, price increases rapidly then became stable with a lower slope and continuing downwards due to the dip in the market in may. Other big reason of the rise of the currency was 50% token was given to Ethereum founder. What happed to the 50% was half of the token were given to India covid care funds which is run by a crypto influencer sandeep other 10% was given to charity and rest was burned. The burned currency is not in circulation and now only 490 trillion token are available. Now due to the donation, the price fells by 40% .
Their rise was mainly because of the elon musk tweets and now they have good reputation. Now scanning the website deeply SHIBA INU is shown as DOGE coin killer. Looking into their white paper, they want to beat DOGE coin other then this they are building a SHIBA INU ecosystem, which has three tokens including SHIBA INU token, second, is leash token and they have unleashed it. next and the third token is named as bone and it is works on decentralized finance. SHIBA INU community has increased to 150K, it is possible they might open a NFT platform because they have mentioned on their website that they are working on NFT arts.
SHIBA INU is using the Ethereum ERC 2020 blockchain platform, fungible token are built similarly, Non-fungible token are built with ERC 721standard. They are running a program on smile.amazon to take donations to rescue SHIBA INU. If the coin fails then they can rescue it with the donation other then that you can earn money by staking similar to putting the money in FD to earn interest, you can submit your cryptocurrency you can earn interest by staking, but SHIBA INU's transection fee is bit higher that is 5 dollars, comparing it to DOGE coin which has lower transection fees which is 0.9 dollar. SHIBA INU community has filled a petition to list the currency on robinhood platform. Almost covering every large platform, but it is important to see if it is listed on the platform, if listed on these platform, we may see a rise in the price for sometime. The price of SHIBA INU may increase if it is listed on robinhood platform, it may also increase if they come up with their own decentralized currency, which is in beta mode right now, and may be released in one week or one month but a clear date is not fixed to launch.
With their own decentralized exchange, you can transfer the currency one wallet to another, and the transection fee will be negligible on listing. Their platform is a non-custodies platform, which is far safer then other platforms if any cryptocurrency is listed on their platform, listing charges are non-existent. Why I am saying the price would increase because similarly other cryptocurrency created their own decentralized platform, and after that their prices increased. Like pancakeswap was going to be introduced it's price was 0.60 dollar and when their decentralized exchange was introduced, the price rise from 0.6 to 40 dollar. Similarly, uniswap's price before decentralized exchange was 3 dollar, and after their exchange launch, the price went up to 43 dollar. Then it may be possible that with launch of SHIBA INU swap, the price will go up. Now to the most important question, will SHIBA INU will rise up to one dollar? now it's price is 0.0006 rupees. Friends if it's price would rise up to 0.1 dollar, then it's market cap would rise to 500 billion dollar, now Ethereum market cap is 300 billion dollar.
So does it has the potential to beat Ethereum, I don't think so. Right now, cryptocurrency market has a cap of one trillion dollar, if SHIBA INU price would rise to one dollar, then it's market cap would need to rise to 1 or 5 trillion dollar, and overcome the whole crypto market, which may not be possible in next 1 to 2 years. It is also possible, they will get full support from elon musk or they release a decentralized exchange and NFT, but even after that it may not rise up to one dollar. It can rise up with time. I have told you it is a penny currency and a meme coin with a potential to rise up to 1000% but it also has a potential to be -1000%. So you can invest in SHIBA INU with your own research and risk. Similarly to penny stocks, it may go up as it can go down, and it is up to your risk taking capability, and how much you want to invest. So friends, this video was about SHIBA INU coin, do you like this video, please tell me in comments. Do tell me the next video topic as this topic was also requested by you guys, like the Pi network video and bitcoin video.
I will be posting your requested videos only for you to see. To invest in DOGE coin and other 70+ cryptocurrencies, download coinswitch kuber app. with the link in description. It is 100% safe and secure with more then 4 million Indians using it. It is backed by sekquoia and rabitcapital. Download coinswitch kuber app, where you can invest with minimum 100rupees and start your cryptocurrency journey. Now friends, I am assigning a small work to you guys, to give 5000 likes to this video, only 5000 likes. So that you guys receiving similar videos and this will motivate me more. Friends, I have done a lot of research for this video, and more time invested, because I was thinking the exchange would come this week, but that did not happened, and extra week was used for this video.
So I made this video today, as I read the news of their exchange listing but it was mentioned only at one place with a price rise of 3%. Searching and reading more into this, I got to know that only SHIBA INU coin is listed on their platform. Nothing was mentioned on any other website. Until I am 100% sure, I will not inform you about it. Please comment the next topic, and give 5000 likes to the video and wait for next video. Thank you so much..