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Showing posts with label Shib Inu. Show all posts
Showing posts with label Shib Inu. Show all posts

Will Shiba Inu Surge After Hitting A Yearly Low?

 Shiba Inu (SHIB) was one of the best performing cryptocurrencies last year. The cryptocurrency surge started in April and grew to an all-time high (ATH) of $0.000086 in October 2021, according to data on Coingecko. 

However, 2022 did not start on a good note for many crypto enthusiasts, especially SHIB investors, as the token has fallen over 75% from its ATH, prompting holders to reconsider whether the cryptocurrency is still poised for another rally this year. 

Shiba Inu’s History & Use Case

It is worth noting that SHIB Inu was launched in August 2020 as a meme coin, mainly referred to as an internet joke. The cryptocurrency is tipped to ultimately become the Dogecoin (DOGE) killer by surpassing the latter’s growth and becoming the most popular meme coin in the market.  

However, SHIB has continued to use the same tactics as DOGE, But Shiba Inu does have some tangible use cases. The first-ever utility introduced by the meme token was ShibaSwap, its native decentralized exchange (DEX). Shiba Inu’s team also announced the first phase of DOGGY DAO, known as DAO 1 (Beta), intending to work towards decentralization continually.

Last year, the project generated massive hype from famous figures, including Elon Musk, attracting many investors to adopt it. SHIB has also been listed across several cryptocurrency exchanges and casinos, with payment providers like Bitpay and Flexa adding it as a payment option.  

Investors Looking Forward to Another SHIB Rally 

Interestingly, many investors are already loading their bags and anticipating another Shiba Inu hype in a bid to enjoy the SHIB rally once again. 

At the moment, the hype, which the project has heavily relied on, has not started yet. While the project’s 2.6 million followers could come in handy when the promotion restarts to push its price to a new ATH, investing heavily in meme coins is not worth it.

A majority of these influencers, who succeeded in fostering SHIB’s widespread adoption, can choose to abandon the project when they make a substantial profit and move on to other juicy offers at any time. 

Hopefully, the Shiba Inu team is quickly developing use cases for the project so that its value will not be tied only to the amount of hype the project receives. 

The Shiba Inu team has been up to some big things. Last year, Shiba Inu announced that it would be expanding its ecosystem to support play-to-earn (P2E) non-fungible token (NFT) games.

On one side, the demand is growing for the SHIB, and on the other side, Burning is gaining momentum day after day, decreasing the supply as in the last 24 hours, 64M Shib coins were burned.

Shiba Inu Market Cap Flipped Polygon To Take 13th Spot, Here’s How Much SHIB Needs More To Enter Top 10

Sighup here

 Shiba Inu (SHIB), the “DOGECOIN KILLER,” has just flipped Polygon (MATIC) in terms of market capitalization and now becomes the 13th biggest cryptocurrency in the world.

At the time of writing, SHIB is trading at $0.00003114, up 1.5% from the previous trading session. However, the 24-hour trading volume for the token is down -5.86% compared to the last trading session, currently standing at $1,643,507,136.22.

shiba flipping polygon

On the other hand, Polygon (MATIC) cannot sustain its bull run and has fallen -5.50% in value compared to the previous trading session. The price for one Polygon is $2.26. The 24-hour trading volume for the coin also nosedived -21.08% to $1,488,636,592.44 compared to the previous trading session. This sudden decrease in volume means buyers don’t seem to be interested in buying Polygon at high prices. Because of the lack of interest from buyers, Polygon was unable to sustain its price, so SHIB grabbed the 13th spot from Polygon.

SHIB Markecap is currently standing at $16 Billion market cap while Shib competitor Doge has a market cap of $25B. Shib ought to add $9B to its market cap to cross Doge that is present at 11th place and to advance in the top ten SHIB requires to cross Polkador whose market cap is $25.9B. To join the top 10 SHIB needs an additional Ten Billion dollars in its market cap.

It is not an effortless task, it can ensue in two ways if other coins kept on falling while SHIB price climbs, or if shib price is able to grow faster as compared to its opponents. Earning the landmark of entering in top 10 demands some real hard work. It will happen only if SHIB use cases, exchange listing, and utility kept on boosting. If the SHIB ecosystem inflates it will support shib price.

Now the question arises, why are traders taking an interest in SHIB instead of Polygon? From the previous few days, there are hell lots of positive news coming for the Shiba Inu ecosystem. ZeroHedge, a far-right libertarian financial blog followed by millions of people, recently revived the rumors about Robinhood listing for SHIB. According to the source, Robinhood plans to list the Shiba Inu token in February.

This news got significant attention. Even, Ethereum whales started taking an interest in the token following the rumor. As a result, SHIB becomes the most prominent token position by dollar value among the top 1000 ETH whale wallets overnight.

But we can assume one thing for sure, “Where There’s a Smoke, There’s a Fire.” If Whales are filling up their bags like the world’s third-biggest ETH Whale’ Light’ bought 58,900,000,000 Shiba Inu tokens for $1.9M, making SHIB her largest holding yesterday. This behavior from whales signals that they have a piece of some Insider Information regarding Robinhood listing or maybe some other “Big News.”

Apart from this, Steven Cooper, an owner of Bigger Entertainment, has arranged another burn party on February 14, in which he planned to burn another billion tokens in one day. His company has already achieved 1 billion burning milestones before.

NFL players are also fans of SHIB, and one of the famous NFL Players named “Brandon King” has also bought the dip for SHIB.

On one side, the demand is growing for the SHIB, and on the other side, Burning is gaining momentum day after day, decreasing the supply. This has set the stage for Shiba Inu to soon advance in the Top 10 positions in market capitalization.

Next Shiba Inu Burn Party Coming To Burn Another Billion Coins

 This Valentine, Steven Cooper, an owner of Bigger Entertainment decided to show some love for SHIB Community as he is arranging another burn party on February 14th at 2 PM CST.  Sighup here

 


The SHIB die-hard lover has the plan to burn another billion coins at this party. To achieve his goal, he comes up with interesting math and communicated that via tweet with his 112.5K Twitter followers. He said if the SHIB price remains in the same range, only a $5 donation is enough from 5600 of his followers to make this burn party a success.

Bigger Entertainment has launched its SHIB burn campaigns less than three months ago. The mission behind these campaigns is to take the price of SHIB to the MOON i.e., to the 1 cent mark. Burn parties and other campaigns will continue to run till then from Bigger Entertainment.

Formerly on January 7, his company Bigger Entertainment achieved its significant milestone of burning 1 billion coins. The burning campaign of Bigger Entertainment is unique in its own way, as people only have to listen to music playlists, the company has created and SHIB will get out of circulation.

According to the company, a music playlist now contains more than 600 songs, out of which 20-100% of royalties are burned based on the project.

Another interesting fact about this campaign is that all the burns are verified by Shytoshi Kusama, a leading developer of SHIB himself.

According to Shib Burn stats, 3,765,784 SHIB tokens were burned with 2 transactions just only in the past 24 hours. In this way, a total of 410,300,763,616,057 SHIB tokens (41.03008%) have been burned till now from the initial supply of 1 quadrillion.

1 Billion Shiba Inu (SHIB) Tokens Burned By Bigger Entertainment

  Steven Cooper, the owner of Bigger Entertainment, reported that his business had burned 103,270,223 (103M) Shiba Inu (SHIB) tokens in the past 24 hours, which brings the total to 1B.


Bigger Entertainment achieved a significant milestone, i.e. officially burning 1 BILLION SHIB. Bigg Entertainment became the leading SHIB burner after launching its burn campaigns less than three months ago.

Steven Cooper has created music playlists that burn SHIB while users listen to music. All the burns are verified by Shytoshi Kusama, a pseudonymous developer of SHIB.

According to Steven Cooper’s the playlist contains about 600 songs right now and growing out of which 20-100% of royalties are burned based on the project. The Bigger Entertainment official website says that the burning of SHIB will continue in the same way until and unless the price doesn’t hit the 1 cent (0.01$).

Shibburn’s official Twitter handle report, 105,153,116 (105M) SHIB tokens were officially taken out of circulation in the last 24 hours with two transactions. The report confirms that the burn of 103,270,223 (103M) was made by Steven Cooper’s business.

 

So far, 410,300,738,115,810 SHIB tokens (41.03007%) have been burned from the initial supply of 1 quadrillion.

In addition, Steven Cooper gives a massive shout-out to Twitter ID “@4851Shiboshis” as he actively participated in the burning campaign and bought Bigger Entertainment’s very FIRST MIXDRAFT NFT.