Meme-cryptocurrency Shiba Inu overtakes the world’s giants in terms of capitalization

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The SHIB token appeared in 2020, but today its market capitalization overtakes major global brands, automakers or technology giants, for example, Nissan or LG. You can analyse coin prices and other important points from the world of cryptocurrencies at the link https://cryptotracker.com/price/shiba-inu.

How did the Dogecoin clone manage to take off like this, and what can we expect from it in the future?

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Shib Coin is an ERC-20 token on the Ethereum blockchain. This name was given to the token in honour of the Shiba Inu dog breed. On the project website, you can find that Shiba Inu tokens are most often referred to as “Meme Coins”. The project launched in August 2020 and was initially seen as an experiment in spontaneous community building. However, as it turned out later, the experiment was successful.

The creator of Shiba Inu hides under the pseudonym Ryoshi. The choice fell on the Ethereum blockchain, not by chance. The founder of the token believes that, unlike many other networks, Ethereum is truly decentralized, secure and has proven itself well. In his opinion, it is Ethereum that allows you to create free decentralized communities.

On the official website of the Shib token, it also has the unspoken name “Dogecoin Killer”, the main task of which is to surpass the market capitalization of Elon Musk’s favourite coin.

Listing on Robinhood

The popular trading platform Robihood has announced that it may add support for Shiba Inu. It all started with a petition where the community asked for a listing of the meme-cryptocurrency on the platform. More than 300 thousand people have already signed the petition, many of whom remind that Robinhood has already added Dogecoin, and it’s time to think about Shiba Inu.

The Dogecoin offering was a very positive move for the company, as the hype around Doge saw the platform’s profits multiply. At the moment, the Shib cryptocurrency is already included in the listing of many top sites. The number of cryptocurrency holders reaches hundreds of thousands of people. But there is one caveat, Robinhood usually considers such petitions for quite a long time, so the community will have to be patient. Moreover, the token is different:

  • special volatility;
  • its value directly depends on the news and some sensations.

Such meme assets are popular with a certain category of people, who perceive the coin as something outstanding and interesting. For such users, Shiba Inu is not only unique, but also a “non-boring” asset, unlike ETH. Perhaps that is why Shiba Inu is still famous and has not disappeared, like many other unpopular assets, which are becoming more and more on the market.

Today, the value of the coin is about $0.0000095, and the capitalization is more than $5 billion. On the one hand, it may seem that this is not a serious investment. But if we look at capitalization and other indicators, we can say that this is the tool that can bring profit.