Connect with us


Why Shiba Inu (SHIB) Keeps Rising to Prominence?



SHIB is rising to prominence and it is worthy of Elon Musk’s attention. New investors are eager to know what are the plans in the next future for SHIB? They are curious to get details about the development plans, burn mechanism and more.  Even those who are already having a solid amount of SHIB are looking for better reasons before they can invest more.

For those who think the participation of Elon Musk is important for the growth of SHIB:  The reality is that the community has nothing to prove to Musk and every other Musk out there.  They are not looking for his attention.  SHIB has grown this far without needing him. The community makes SHIB and SHIB is what the community is about and it is what the community chooses it to be.  SHIB community is not looking for anybody’s attention.

SHIB did it all by themselves.  It is unique than Doge Coin.  There are several purposes for which SHIB is used.  It started off as an alt coin for DOGEcoin, but now SHIB is more popular than DOGE.

The number of memes and the persistence of the SHIB crowd in cryptocurrency exchanges is proof of its use case and strength. The claim to be the Rival of Doge Coin earned it the reputation as the “Doge Killer.”  In reality, the popularity of SHIB is not created by virtue of it being the Doge killer, but by the unique differences it has created for itself in terms of development, use cases, value, and availability.

Shib coins are built on and powered by the Ethereum Network.  Dogecoin has been developed using the same Bitcoin technology.  Doge is still working on price more due to its hyped popularity than utility. Shib has established itself to some extent as a medium of online payments.

The popularity of SHIBA INU Coin is majorly popular because of two reasons.  Elon Musk tweeted that he would like to own a Shiba pup, that hyped the crypto market and its price rose by 300 percent.

Its prices fell drastically after Vitalik Buterin donated 50 trillion Shib Coins to India Covid Crypto Relief Fund.

SHIB INU coin is predicated to rise again. The numbers of active buyers are rising and this in turn is helping its value rise. Due to its affordable price and increasing numbers of active buyers the influence of the SHIB is increasing day by day.

For now, the price momentum is lower and technical indicators are calling for a sell.

SHIB is bullish right now, it is just a small dip and then to the moon according to the community.