While the crypto market is in decline, Shiba Inu is showing signs of stability. Meanwhile, the new meme coin Dawgz AI is gaining popularity. Let's explore what's happening in the realm of meme tokens.
The History of Shiba Inu
Shiba Inu was created in 2020 during the rise of meme cryptocurrencies. Aiming to follow Dogecoin's success, the anonymous developer Ryoshi launched SHIB on the Ethereum blockchain. In 2021, SHIB's price surged significantly, aided by the interest of prominent figures like Elon Musk. Over time, the Shiba Inu project expanded through other tokens such as BONE and LEASH, used on the ShibaSwap decentralized exchange.
Shiba Inu Price Prediction
SHIB's price has mirrored the broader crypto market trends, declining by more than 50% since April 2024. However, recent activities show a slight recovery. The token's support includes an increased burn rate, which might help in price appreciation. For instance, an 8470% burn rate increase was noted when an anonymous wallet transferred nearly a billion SHIB tokens to a 'dead' wallet. For SHIB to reach the coveted one dollar mark, a significant reduction in token supply is necessary.
The Rise of Dawgz AI
Dawgz AI, a new meme cryptocurrency utilizing AI capabilities, is gaining momentum during its presale, having raised over $3.1 million. With features like automated trading bots and staking opportunities, the DAGZ token holds potential as a promising investment.
In the volatiles crypto market, Shiba Inu continues to hold investor attention thanks to its historical popularity and current supply reduction initiatives. Meanwhile, Dawgz AI offers an innovative approach in the meme token space through AI technology integration, potentially boosting its project's future growth.
