Cryptocurrency Speculation

The Popularity of the SHIB Coin

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Cryptocurrencies went through a rough period recently and many people out there were rather concerned by the direction that the whole decentralized system of finance was taking. But while this was happening, a small altcoin, born as an experiment, was secretly thriving and will continue to do so for the foreseeable future. Yes, this article is about the SHIB coin.

In this article, you will find a short overview of the reasons behind its popularity as people continue to utilize this coin and want to know more about it. 

What is Shiba Inu?

Shiba Inu is a type of dog originally from Japan, normally used for hunting and guarding. Its golden color and polite demeanor made it super famous not only in its native country but all over the world. 

The dog also rippled into the field of popular culture, and that’s also why the shiba inu coin price is rising as high as the stars, but you’ll get to read more about this later. You must know that today, Shiba Inu is not only a type of dog but also a type of cryptocurrency.

This cute and friendly dog created a big trend of memes online, and after that, it stimulated the creation of another cryptocurrency as well, the Dogecoin. Now, the SHIB coin is much more famous, and that is due to the approach of its creation, which will be explained in the next section.

The Approach Behind Shiba Inu

Shiba Inu was created in 2020 by an anonymous entity called Ryoshi. The approach behind the creation of this crypto was to find out what would happen if a decentralized process was completely run by its community. It went quite well, as the SHIB coin is expected to reach a higher price in 2024, and this is the opinion of many researchers in the field of crypto.

This type of crypto opted for a friendly approach, which made crypto look fun and easy. No surprise that many people liked that and felt safer investing in this specific type of crypto. Another important factor is that this coin relies on the much more popular crypto ecosystem called Ethereum and so basks in the safety of an established colleague. 

That’s not all though, as the creators of Shiba Inu are working tirelessly to give this crypto the best possible reputation. If you use the tokens provided by this crypto, you will be able to conduct quick transactions and be part of a thriving and active online community of people who believe in it. 

Aside from that, this crypto also entered the metaverse rather recently, which means that it now has gained visibility on a different side of the market. Popular culture is one of the biggest propellers of this small and cute coin, and the presence of Shiba Inu’s related content works basically like free publicity. 

Summing Up

Aside from that, people naturally like to invest in things they understand, and Shiba Inu made it its mission to be an accessible type of crypto, almost in response to the plurality of coins out there and the complexity that characterizes this field of finance as a whole. Shiba Inu is a revolutionary currency that takes into account what people want, and it is finding new ways to make the field of crypto more accessible and fun for everyone. 

In this article, you found a short explanation of the reasons behind the popularity of Shiba Inu, but there are many other resources that you can consult if this matter interests you, also in light of its future price increase.

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