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Last year was amazing for many cryptocurrencies, but it was not the same for all cryptocurrencies. The last few months or the start of this month has been bad for almost all the coins. Some coins fell a little as Ethereum and Bitcoin fell by 35 percent. But when it comes to coins like Shibu Inu, they fell 65 percent. The trend seems to be changing for the past few weeks. The price of Shibu Inu started picking up and it has increased by almost 50 percent in one week. The recent highest increase was 10 percent in just 24 hours. If you want to know what kind of effective platform works for most trades worldwide such as the bitcoin loophole keep reading.
The rising price of Shibu Inu:
If you are aware of the Memecoins, then Shibu Inu is one of them. Just like any other meme coin, even this has seen the worst in the crypto world. When the price of Bitcoin hit its all-time high, almost all the cryptocurrencies have suffered a lot. But that will not remain for too long and it didn’t. After suffering for such a long time, the SHIB price started rising. At the beginning of February, the price of Shibu Inu even touched a 32 percent hike. It became very popular in late 2021 and the number of viewers outperformed even Bitcoin.
Why is there such a rise in the price?
One important thing that you should understand here is why is the price of Shibu Inu increasing. Based on the views of the experts and enthusiasts, there are two important points that are triggering Shibu Inu’s price.
The first point is, Shibu Inu works on the Ethereum platform. But Shibu Inu is also planning to release a new blockchain or a two-layer solution. If this is implemented, the high cost that will be part of trading or investing in the Ethereum network can be eliminated.
The second point is that there is talk that Shibu Inu is going to enter the Metaverse Space. Maybe this is just a talk, but it seems very interesting to the coin fans and investors. They also announced the Shiberse release this year, on their social media account.
Shibu Inu touching $1:
Is it possible for Shibu Inu to touch $1 in 2022? If you look at the number of tokens of Shibu Inu in circulation, then the number is high. It is almost 549 trillion tokens. If the estimate of Shibu Inc touching $1 turns true, then the market capitalization is going to be $549 million. That is going to be huge, very huge and it is going to be on the top of all cryptocurrencies in the world. But reaching a value of $1 is not going to be a simple task. Either it has to be in the bull run or the number of tokens in circulation should be reduced. These two factors can help in increasing its price.
The coins that are in circulation should be sent to the dead wallet or burnt if the supply of Shibu Inu is to be increased. This is not something new. This has happened in the past as well when they burned 410 trillion Shibu Inu coins. But even that cannot guarantee that the value of Shibu Inu will reach $1 in the near future.
Should you start investing in Shibu Inu right now?
This is something tough to answer in just one line. You cannot just say Yes or No. If you are planning to invest in Shibu Inu because the price of this token or coin is expected to reach $1, then you should think twice about it. It is not something that is impossible but it is something that can take at least a few years for it to happen. Also, if you look at the price chart of this coin, the price falls more often than rising. That means, more investors and traders are losing money than making any profits. According to the data available at present, more than 59 percent of people are losing money and only a very small percent of people are making profits.
But even after all these facts, you cannot still miss that Shibu Inu was able to give good profits in 2021. So, overall it is a good coin but it comes with its own set of risks.
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