Shiba Inu (SHIB) — a decentralized cryptocurrency, developed in August 2020. For several years, high hopes have been placed on it. Young investors are hooked on this token, as is the case with Dogecoin (DOGE). In 2021, SHIB collected the highest income among all other coins.
For example, for those who bought the token after its release, the profit for the year increased to 18719494.1%. Despite the fact that the coin is not being traded so actively now, fans of the project are waiting for its new entry into the top.
The task of the community now - to bring the value of SHIB to $ 1. As of October 17, the token is worth $ 0.00001025. The team considers the achievement of $ 0.001 as an intermediate stage. Some believe that this result can be obtained by 2024.
This can be facilitated by the launch by the team of the crypto-meme network of the second level Shibarium, which is scheduled for this year. Reducing transaction costs and increasing speed will positively affect the price of SHIB. Also, Shibarium will make room for NFT games.
Another potential catalyst — the massive Shiba Inu token burn. However, so far this has not had much effect on the price. Perhaps this is due to the number of burned tokens, which is significantly less than the number of tokens in circulation (~ 497 trillion SHIB).
The developers of SHIB recently released a collectible card game that quickly gained popularity. However, this did not significantly affect the cost of SHIB. This behavior is associated with the active phase of the bear market, which has spread to the entire cryptocurrency market.
The development of the project in social networks, as well as attracting new customers to the meme token, also plays a significant role at Shiba Inu.
Earlier, the news was published that Elon Musk will be promoting Dogecoin through a TV show.
