Why did Hib surge?
SHIB was launched on February 1, 2021, with a circulation of 1,000 trillion and a current circulation rate of 50%. The price has remained at around 0.706 yuan since the opening. The price rose to 0.607 yuan, and then to 0.402425 yuan. The price increased by 3460.4%. In three months, prices have increased 1,169 times.
The sudden surge in Shiba Inu Coin is mainly because a group of investors are optimistic about the future of Shiba Inu Coin. The rise of Shiba Inu Coin has a certain financial logic. At least from the price, it can be seen that with the continuous efforts of the investor operation team, Shiba Inu Coin has experienced a lot of baptisms from its opening to the present.
Shiba Inu Coin is listed on many exchanges. It is the only animal coin besides Dogecoin listed on the three major exchanges. In addition, it is listed on the U.S. Public Company Exchange, which means it is recognized by many traditional financial industries.
Since Shiba Inu Coin has just started and the price is still relatively low, the transaction volume is still relatively objective. In addition, many investors are accustomed to buying lower-priced products, so the Shiba Inu Coin has skyrocketed. , the rise of Shiba Inu Coin is in line with the conventions of virtual currencies. Previously, Bitcoin has also experienced skyrocketing prices.
But what needs to be noted here is that the rise of Shiba Inu coin is not necessarily a good thing.
Currencies such as Shiba Inu coins are essentially air coins and have no practical significance. Irrational market sentiment has exacerbated price bubbles, and soaring prices are often accompanied by crazy harvests. Cryptocurrency, as a kind of financial derivative, is not supported by underlying value assets and is more susceptible to news factors. Big V’s placing orders and promoting speculation can easily lead to a large influx of speculation funds. This also means that in the face of bad news, cryptocurrency prices will plummet and will become the norm.
Problems such as high-frequency trading, multiple leverage, unclear trading rules, and the inability to disclose information to the outside world in a timely manner limit the ability of cryptocurrency to protect the rights and interests of users. More users are participating in speculation with a speculative mentality, and the risks are difficult to predict. .
MeMe SHIB INU, an upstart in the currency circle, has become popular. It rose more than 30% in a few days. what happened?
Anyone familiar with MeMe in the currency circle knows that Shib Inu, or Shiba Inu coin, is famous for its 240,000 surges per year. Although down 80% from the highs of the past few months, it has started to surge again in recent days, rising in just a few days. More than 30%, what happened to Shib and what is the story behind it?
First, let’s briefly introduce the key time points and major events in the history of Shib’s birth and development:
1.Shib is a virtual currency running on the Ethereum chain. Born in August 2020, with an initial issuance of 1,000 trillion;
2. On May 9, 2021, influenced by Musk’s tweet about looking for Shiba Inu, Shiba Inu coin soared nearly 1,200% in one day, quickly transforming from a worthless junk altcoin to the world’s number one cryptocurrency;
3. On May 13, 2021, a well-known figure in the currency circle and the founder of Ethereum donated 50 trillion SHIB tokens to the Indian Coronavirus Relief Fund;
4. On May 17, 2021, 45% of the Shiba Inu coin SHIB coins were destroyed.
Everyone has a different opinion about Shib Inu Coin. Some people think it is worthless. However, the Shib Inu community has been continuously promoting the construction of Shib ecology. People who love Shib are also taking various measures to promote the development of Shib. and currency price increases.
Here are some facts about what happened during the development of Shib:
1. Shib Inu has its own trading platform and is trying to create a vibrant shib through a decentralized trading system;
2. Countless business owners and Shib enthusiasts use Shib burning activities to reduce the total amount of Shib and improve its scarcity attributes, such as:
3. The number of Shiba Inu owners continues to increase. The latest data shows that the number of Shiba Inu owners has exceeded 1.1 million, a record high;
4. Recently, Shiba Inu developers announced that they are cooperating with an Italian fast food restaurant called Welly's to conduct a comprehensive rebranding, using Shiba Inu's LOGO Shiba Inu as the new mascot, adopting a new slogan, and adjusting menus and marketing strategies; some retail Stores are also considering using Shib as a payment currency;
5. For several months, the Shib community has been pushing for Shib to be listed on the Robin Hood Exchange ( ), with the number of signatures exceeding 550,000. Everyone is full of confidence and expectations for this. Although the Robinhood CEO did not admit it, the business news site tweeted that Robinhood could come to Shib as soon as February.
The above does not constitute investment advice, and it is up to each viewer to decide whether to purchase Shib. It can be seen that Lao Wu is optimistic about Shib's future. He holds more than 100 million Shib in his hand, which is not a lot. He plans to hold the coin for five years, watching the storm rise and waiting for the rain to fall and the flowers to bloom. This is the joy of life.
Why did shit coins skyrocket?
1. Due to the low price, you can have hundreds of thousands of them for just a few dollars, so the entry threshold for new users is low. Shit Coin, also known as Shiba Inu Coin, the full English name is SHIB, and the official translation is Shiba Inu Coin. It means, but according to the Chinese pinyin, it happened to be called Shit Coin, so it was called this name later. The second reason is that due to the extremely high FOMO sentiment in the bull market, SHIB's cumulative increase in 2021 has reached 280,000 times, including countless zeros. Third, of course it is also related to the "orders" from big guys like Musk. In mid-March 2021, Musk tweeted that he would raise a Shiba Inu for his family. Before Dogecoin had time to rise, SHIB's team immediately came forward to say that Musk planned to buy Shiba Inu Coin. So the shit coins started to explode, and the explosion was jaw-dropping.
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1. On October 18, 2021, a petition calling for the launch of SHIB has received more than 100 signatures.
2. PAC CEO David tweeted that crypto whales are buying SHIB in large quantities. Twitter user @ commented that multiple crypto whales purchased SHIB. The largest deal to date involves SHIB, valued at $46 million. According to @data, a crypto whale purchased 63 SHIB (worth $43.83 million) on September 30, 2021. Subsequently, the same crypto whale obtained 276 billion SHIB in three phases (116 billion, 159 billion, and 1 billion SHIB respectively). These transactions are completed within a few hours.
3. Multi-asset investment platform eToro launches Shiba Inu (SHIB). The company said the decision was based on heavy customer demand. Back in May 2021, eToro was launched. It has since surged to all-time highs around $0.5. SHIB hit an all-time high in mid-May 2021 and its popularity soared. Although the decentralized exchange (DEX) attracted $1.76 billion in total trading volume locked (TVL) just days after its launch, it has fallen by 80% since then. Data shows that as of press time, TVL has dropped to around US$400 million.
It took Marcus 3 hours to complete all the programming for Dogecoin. At the time, anyone could own it for free. But generally speaking, developers of more sophisticated virtual currency projects still have to hire someone to do it again, create a new algorithm that looks different, and write a good white paper to explain the significance and great prospects of their project. . . wait. Marcus has to go to work and doesn't have much free time to do it. Spending three hours fishing is a luxury. So, I directly took the Litecoin code, only changed a few key parameters, and copied the rest. What key parameters have changed? First, the icon changed into a dog head. This is Dogecoin’s most important innovation.
The future prospects of Shib currency
1. Shiba Inu Coin (SHIB) is undoubtedly the hottest new cryptocurrency. Nicknamed the “Dogecoin Killer,” many investors are wondering whether the Shiba token will ultimately be worth a penny or even a dollar. So, can Shiba Inu Coin reach 1 cent or 1 US dollar?
2. When Shiba Inu Coin (SHIB) was first launched in August last year, it functioned like a replica of . Contrary to Dogecoin’s mascot, the name of the Japanese Shiba Inu breed is SHIB. Although it is not yet on par with Dogecoin, which is heavily backed by Elon Musk, SHIB has more or less remained relevant in the market. SHIB has become one of the top 20 altcoins in a short period of time.
3. Since it is listed on the largest cryptocurrency exchange, its growth is likely to be significant. Although SHIB costs less than 1 cent, it has gained more than $3.4 billion in momentum since its launch. This is an important sign that SHIB has a solid foundation and strong strength. It suggests that SHIB's only goal is to reach $1. In addition to investors being hopeful and pragmatic about this, analysts also say that SHIB will significantly double in price soon.
1. The historical highest price of SHIB coin is US$0.01. The initial price was $0.01 and has increased tens of millions of times. News is circulating in the market that Shiba Inu Coin is developing its own new decentralized exchange. Currently, most of these decentralized trading platforms have achieved great success in the decentralized finance DeFi market. If Shiba Inu's decentralized exchange can achieve even a modicum of success like other exchanges, then SHIB can achieve its $1 goal. If traders continue to invest, Shiba Inu Coin’s valuation will continue to increase.
2. However, Shiba Token (SHIB) is still a long way from 1 cent or 1 USD, so this is unlikely to happen anytime soon. Cryptocurrency is a volatile market, and huge swings in either direction can occur multiple times a day. Therefore, it is difficult to predict the future of any emerging cryptocurrency with a high degree of accuracy. By comparison, it took DOGE nearly a decade to reach a 1-cent valuation. If the hype surrounding SHIB doesn't subside, it might hit the milestone sooner, but that's no guarantee. Shib token needs to rise by 12,000,000% to reach $1. The coin has gained approximately 2,000,000% per month since January.
3. So, if it continues to grow at this rate, it could theoretically reach $1 by the end of 2021. Shiba's current popularity can be attributed in part to Elon Musk's appearance on "Saturday Night Live." This is new in the current zeitgeist, but may fade away once this all blows over SHIB. As of this writing, SHIB is up this week (+1,443%), but down (-11.62%) compared to yesterday. This is not a sign of doom, however, and even at the height of its popularity, Shiba Inu coins were not infallible.
What is the prospect of shit coins in 2022?
According to a survey by the editor of Chain Encyclopedia, the historical highest price of SHIB coin is US$0.0. The initial price was $0.01 and has increased tens of millions of times.
Is the shit coin Dogecoin so popular recently? What platforms are there for Dogecoin and how to buy it?
This year’s shit coin Dogecoin is very popular in the currency circle. It has a familiar formula and a familiar taste. Currently, virtual currencies are going crazy again. When major heavyweights such as Bitcoin consolidate, hundreds of altcoins usher in an influx. During the carnival, stories of "getting rich overnight" quietly circulated in various communities.
First, there was the Dogecoin DOGE, which rose so much that it was incomprehensible; then there was the “shit coin” SHIB, which surged 280,000 times this year; the highest increase in a single day was 500%, and now LOWB, which has already risen in just a few days. increased by 60 times. In addition, the Akita dog coin AKITA has increased 840 times, and the pig coin PIG has increased 656 times... Various animal coins have been born one after another and are very popular. They will last a long time.
The above article is a detailed answer to the increase of shib currency and the maximum increase of shib currency introduced by Keling.com. I hope it will be helpful to everyone; if you want to know more financial information, remember to bookmark and follow us.
标签： #Crypto #Dogs #Currencies #USD #Surge
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