The surge in this cryptocurrency cannot be ruled out because exponential growth is very simple in the newly launched cryptocurrency. So this should be the only reason to invest in this coin. This is because they have a lower comparative value. According to CoinMarketCap, the current price of Shiba Inu Coin is $ 0.00000163 which was only $ 0.0000006 in mid-April.
It is Shiba Inu’s market capital that is attracting people’s attention. Its value is staggering, with $ 13 billion. The value of Dogecoin is $ 61 billion. Although DogCoin was previously valued at $ 90 billion, its price fell after a comment made by Elon Musk at SNL.
The only difference between these two currencies is that DogCoin is a coin while Shiba Inu is a token. To differentiate between the two you should be aware that cryptocurrency (DogCoin) has its own blockchain whereas crypto tokens (Shiba Inu) are built on the already existing blockchain. The Shiba Inu coin is sold under the name of SHIB tokens.
The biggest benefit of the growing popularity of this token is currently being found by Vitalik Buterin, the founder of Ethereum as Shiba Inu is made from Ethereum itself. The surge in its prices has increased Buterin’s total wealth by $ 11 billion. Buterin has 505 billion SHIB tokens, which is 50 percent of its total supply.
An interesting fact here is that Buterin did not have to buy this token, but was given it free of charge by the makers of Shiba Inu. This was done so that its spread in the market could be severely broken and token shortage became a factor.
The founder of SHIB said in a company note, “We have supplied Vitalik 50 percent of it. There is no justification for becoming great on its own unless Vitalik is under the umbrella of Buterin, only then will SHIBA develop and grow in the market.” Will be able to stay. “
Overall, the only thing that can be said about this cryptocurrency is that this cryptocurrency is a token and users can keep it in trillions of numbers.
At the same time, when it comes to India, the situation regarding cryptocurrency is still not clear. Its transaction on the Indian business platform has not started yet. Even the big Indian crypto trading platforms like WazirX, Coinswitch Kuber and CoinDCX GO do not see this token. But if an investor is interested in doing business, he can currently buy it from CoinDCX, Binance, and Coinbase. Yes, but it can be said that if the prices of this token continue to witness similar bounce, then SHIB can be seen listed on Indian trading forums after some time.