thenewscrypto.com
- SHIB token value has increased by more than 44,600,000 percent.
- Shiba Inu (SHIB) is a high-risk, high-reward cryptocurrency for investors.
Since last year, the token’s value has increased by more than 44,600,000 percent and thus has a fair possibility that it can reach new highs. Shiba Inu (SHIB) is a high-risk, high-reward cryptocurrency for investors. The SHIBA INU website encourages dog-inspired artists from across the globe to join their SHIBA INU community in the NFT market as well. SHIBA INU has also set up an Amazon Smile campaign to collect money for the Shiba Inu Rescue Association, which rescues actual, live Shiba Inu dogs.
Even though SHIB has proved critics wrong several times, it is unlikely for the currency to ever hit $1 with its present coin count. It’s not hard to see why speculation about the SHIB token reaching the $1 mark keeps popping up. A market valuation of around $19 billion can be estimated for Shiba Inu at its present pricing.
Key Points To Achieve the Target
The key price drivers for the token are simple adoption and price speculation. The token is also gaining popularity as a cryptocurrency for use in metaverse virtual-world applications, such as buying and selling. SHIB’s value is anticipated to rise if the cryptocurrency market experiences a new bullish phase. If a high number of SHIB tokens are burned. The total amount of coins in circulation will be reduced, which might increase the token’s value.
According to CoinMarketCap, Shiba Inu price today is USD 0.000033 with a 24-hour trading volume of USD 810,128,060. Shiba Inu has been down 2.38% in the last 24 hours.