Shiba Inu has been at the center of the entire meme-coin trend that ignited this year. With the year coming to an end, it’s time to look back at how the cryptocurrencies [meme-coins in particular] have fared.
Today, we will look at Shiba Inu, the darling meme-coin of Redditors and Twitter traders. The cryptocurrency generated massive returns for its community, the ShibArmy. At one point, Shiba Inu overtook Dogecoin to become the ninth most valuable cryptocurrency in the world. However, Dogecoin quickly reclaimed the top spot.
Shiba Inu recently breached a crucial support level and was down over 60% since October. But it has now pared some gains by experiencing a price rally of over 20% in last one week. A Shiba Inu whale also jumped in to buy $50 Million Shib coins at the time of the dip.
Why Should You Buy Shib?
The major reasons why you should buy Shiba Inu right now are:
- The cryptocurrency is listed on 64 exchanges around the world. This gives it ample liquidity, relevance, and ensures there is massive interest for the meme-coin.
- The Shiba Inu project has over 2.2 million followers on Twitter, which is one of the highest for any cryptocurrency projects.
- Shiba Inu is accepted by more than 600 merchants including GameStop, AMC, AskTheDr, etc
- 40,000 retail sites have started to accept Shib as a mode of payment now bringing it to the mainstream
- SHIBARIUM blockchain is under continuous development
- 1.1 million ‘hodlers’ and growing
The afore-mentioned reasons are just a few from a growing list of reasons why you should be looking to jump on the Shiba Inu craze.
What do you think about the whole story? Tell us your thoughts in the comments.
PS: This is not financial advice. One must conduct their own research before investing in cryptocurrencies. The market is volatile and not regulated.