Why Shiba Inu Coin Could Rise?

Why Shiba Inu Coin Could Rise? Dogecoin is seeing some new success in recent 
weeks. Does that mean Shiba Inu coin will rise,   too? Shiba Inu might see some success, too, 
because of Dogecoin. As Per Yahoo! Finance,   SHIB coin has gained some momentum because 
Dogecoin has been getting some lift.  What is Shiba Inu anyway? It is a new 
meme-based cryptocurrency centered on the   Shiba Inu dog breed — has been outperforming 
Dogecoin, another cryptocurrency based off   the Shiba Inu dog breed, in recent days.
Why Can’t you be our guest as we bring   you the whole mystery behind “Shiba Inu” Coin?   In today’s Episode, we will be going in depth 
on why the Coin could be poised to rise.   Do not change the Channel please. To get more of 
our videos, kindly subscribe to our channel today.  Over the last few months two distinct dog 
cryptocurrencies, shiba inu and dogecoin,   have been making waves within the crypto economy. 
While dogecoin has been around since 2013   and has seen massive gains during the last 
year, the relatively new ERC20 crypto shiba inu   has jumped significantly in value as well.
Shiba Inu’s current market capitalization is   about $3.9 billion compared to Dogecoin’s $55.5 
billion, and some traders may be willing to bet   that Shiba Inu will start to close the gap in case 
it becomes more popular.

The SHIB coin will only   see more of those opportunities because investors 
may put more money into the cryptocurrency due to   a “sympathy trade,” according to Yahoo! Finance.
Does Dogecoin Hold the Key to Shiba Inu’s Rise  Shiba Inu might see some success, too, because 
of Dogecoin. SHIB coin has gained some momentum   because Dogecoin has been getting some lift. 
SHIB coin has a chance to rise, riding the   wave of momentum from Dogecoin. However, traders 
should note that Shiba Inu will likely remain   dependent on Dogecoin’s dynamics as it is still 
views as ‘another cryptocurrency with an image   of a cute dog,’” according to Yahoo! Finance.
The cryptocurrencies dogecoin (DOGE) and shiba   inu (SHIB) have made huge gains in 2021. In fact, 
both of these digital assets have outshined a   great number of cryptos as far as percentage 
gains against the U.S. dollar are concerned.   For example, investing in bitcoin (BTC) a year ago 
shows the investor would have gained a nice 290%   against the USD. Dogecoin, on the other hand, 
at $0.37 per unit would have made the investor   14,787%, according to today’s 12-month data.
How could SHIB coin — a lesser-known   cryptocurrency compared to Bitcoin and 
Ethereum — rebound so quickly? Well,   it’s because the coin is already trending upward. 
Despite almost two weeks of consolidation,   SHIB has overcome indecision, working in favour 
of the bulls after gaining over 55% in market   value from its bottom according to FXStreet.
Ethereum Co-Founder Vitalik Buterin reportedly   made a move over the weekend that 
drove up the cost of SHIB coin,   and may have influenced the SHIB coin market for 
the future, according to Yahoo! Finance.

Buterin   decided to “burn” 90% of his SHIB coin tokens over 
the weekend. The process of burning “refers to the   act of sending a token to an unusable account and 
removing it from circulation, which diminishes   supply and increases its scarcity,” according to 
Benzinga. The move came after Buterin donated $1   billion to a COVID-19 relief fund in India using 
Shiba Inu coin, according to Fortune. In total,   Buterin burned about 410.24 trillion SHIB tokens 
over the weekend, which would be valued at $6.74   billion, per Benzinga.

He said it was done to make 
sure he didn’t control the market of SHIB coins   and that the market is better left in 
the hands of coin creators and investors. The Implications of this Move
According to FX Street, which reports   on cryptocurrencies, the decision received 
heavy positive feedback from social media.  • “Many speculators suggested that Buterin’s 
transaction could be the fuel that could send   Shiba Inu to the moon,” FX Street reports.
• The decision to burn so many SHIB   coins makes each one available 
rarer, which jacks up the price.  • “However, considering that meme-based coins 
are based almost exclusively on speculation,   a particular action does not always mean that its 
value will skyrocket,” according to FX Street.  Could Listing the Shiba Inu Coin 
on Robinhood the Game Changer?  Social Media has been pushing for Robinhood to 
list Shiba Inu coin on its app, which would expose   the cryptocurrency to more people and potentially 
make its value rise, according to Yahoo! Finance.   Dogecoin — a meme-based cryptocurrency that rivals 
SHIB coin — is available on Robinhood, as I wrote   for the Deseret News.

There’s a new Change.org 
petition for the Shiba Inu cryptocurrency coin to   be listed on Robinhood, the stock trading app that 
allows people to buy and sell cryptocurrencies. In   fact, a Change.org spokesperson told Newsweek that 
the petition has become the 10th largest petition   on the website for the month of May. A Change.org 
user named Tristan Luke created the petition.   The goal was to get 150,000 signatures. So far, it 
has reached about 86,000 signatures, per Newsweek.  Is It Surpassing Doge?
Experts told The Inverse that SHIB coin could   outpace the popular Dogecoin in terms of value 
because of the hype around it. Rather than simply   dismissing the hype outright, it’s important 
to realize that what we’re seeing is the mass   movement of traders new to crypto moving into the 
space,” Ben Caselin, head of research and strategy   at crypto exchange AAX, told The Inverse.

Lucy G. 
founder and managing partner of Token Bay Capital   told Business Insider that the rise of SHIB 
coin and other meme-based currencies shows the   power of the modern markets. Today with the 
rise of cryptocurrencies, we are witnessing   groups of anonymous individuals experiment 
with the democratization of money itself   and the shiba token embodies this new trend,” 
Gazmararian said. As long as participants   within a growing ecosystem are united by a shared 
purpose and vision and incentivized to continue   building out the network, the network will become 
increasingly valuable, and this will be reflected   in the price of the shiba token,” she added.
Shiba inu tokens were invoked in August 2020   and are only 10 months old, newbies in 
comparison to dogecoin’s 2013 OG origins.   There is no price data prior to January 1, 
2021, which notes that SHIB was trading for   $0.00000001 according to Coingecko.

The price 
remained in this range for a few weeks after,   but since then the token has risen 90,100% 
to today’s $0.00000862 exchange rate.   30-day stats show DOGE is down 33% but SHIB 
is up 425.6% over the course of the month.  Final Thoughts on the war 
Between Shiba Inu and Dogecoin  Both coins have logos that feature the likeness 
of a Shiba Inu dog and both digital assets have   lively communities.

While there is a large DOGE 
‘Army’ there are a number of fans who refer to   themselves as the ‘SHIB Army.’ Coingecko ranks the 
shiba inu (SHIB) market capitalization in position   30 with a $4.5 billion market valuation. 
The dogecoin (DOGE) market capitalization   today is much higher at $49 billion.
Fees are higher to send SHIB as it costs   0.0019 ETH ($5.32) per transfer compared to 2.48 
DOGE ($0.933) to send dogecoin. Dogecoin is widely   available on a lot more exchanges than shiba 
inu, and recently got added to Coinbase. People   can find SHIB on exchanges like Okex, Huobi, 
ShibaSwap, Kucoin, Coinbene, Probit Global,   Binance, Crypto.com, Coindcx, and Wazirx.
Moreover, there are a lot more SHIB tokens in   circulation than DOGE. Data shows 497 trillion 
SHIB tokens exist today while there’s only 129   billion DOGE in circulation. Over the course of 
the last 24 hours, SHIB saw $800 million in global   trading volume.

Dogecoin’s volume surpassed that 
metric by a long shot with $6.2 billion in global   DOGE swaps. These two coins may be similar as 
they both share the likeness of a Shiba Inu dog,   but they have distinct differences as well.
The SHIBU INU dog is the meme associated   with Dogecoin (DOGE). This cryptocurrency has 
received lots of PR because of support from   Elon Musk, Snoop Dog, Mark Cuban, and other 
celebrities. Meanwhile, the crypto that   began as a joke is currently the sixth-leading 
token with a market cap of over $55 billion.  SHIBA INU is a decentralized crypto, created 
in August 2020 by an anonymous person,   “Ryoshi.” SHIB is an ERC-20 token on the Ethereum 
blockchain, based on Dogecoin, and brands itself   as “the Dogecoin killer.” The website states 
SHIB is “decentralized meme tokens that grew   into a vibrant ecosystem.

ShibaSwap. Fun Tokens. 
Artist incubator, Growing 440+ community & more   on the horizon.” While DOGE began as a joke, 
SHIB is a derivative of the joke. Meanwhile,   on June 2, SHIB was the thirtieth leading 
token with an over $3.74 billion market cap.  Thank you for being our guest as we 
took you through our episode on “Why   Shiba Inu Could Rise.” To be the first one 
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