The surge in this cryptocurrency cannot be overstated as exponential growth in newly launched cryptocurrencies is very simple. So this should be the only reason to invest in this coin. This is because their comparative value is low. According to CoinMarketCap the current price of Shiba Inu coin is $0.00000163 which was only $0.0000006 in mid-April.
It is the market capital of the Shiba Inu that is attracting the attention of the people. Its value is quite staggering with $13 billion. At the same time, the value of Dogecoin is $61 billion. Although Dogecoin was previously valued at $90 billion, it was the first one done by Elon Musk on SNL. Comment After that its price fell.
The only difference between these two currencies is that Dogecoin is a coin while Shiba Inu is a token. To differentiate between these two, you should know that cryptocoins (Dogecoin) have their own blockchain whereas crypto tokens (Shiba Inu) are built on an already existing blockchain. Shiba Inu coins are sold under the name SHIB tokens.
Ethereum’s founder Vitalik Buterin is currently the biggest beneficiary of this token’s growing popularity as the Shiba Inu is built from Ethereum itself. Its price jump has increased Buterin’s net worth by $11 billion. Buterin holds 505 billion SHIB tokens, which is 50 percent of its total supply.
An interesting fact here is that Buterin did not have to buy these tokens, but was given these tokens for free by the makers of the Shiba Inu. This was done in order to break the chain of its spread in the market and the lack of tokens could be a factor.
SHIB’s founder said in a company note, “We have supplied 50 percent of this to Vitalik. There is no point in becoming great in itself unless under the tutelage of Vitalik Buterin, only then will SHIBA grow and market.” Can stay.”
Overall, the only thing that can be said about this cryptocurrency is that this cryptocurrency is a token and users can keep it in the number of trillions too.
At the same time, when it comes to India, the situation regarding cryptocurrency is still not clear. Its transaction on the Indian trading platform has not started yet. This token is not even visible on major Indian crypto trading platforms like WazirX, Coinswitch Kuber and CoinDCX GO. But any investor interested in trading in it can buy it from CoinDCX, Binance, and Coinbase for the time being. Yes, but it can be said that if the price of this token continues to see a similar jump, then surely SHIB can be seen listed on Indian trading forums after some time.