What Is Shiba Inu?
Trading cryptos is an art. To master it, you must have a vast knowledge of blockchain and its workings. To buy or sell any crypto, you must use the crypto exchange platform, which works as a medium between users and buyers. KuCoin is your best option for trading crypto. Its super features include low transaction fees, super-fast transactions, and trading bots, which indicate the market flow. On the KuCoin exchange, one of the most popular crypto among investors is the Shiba Inu coin. It is a meme coin, much similar to Dogecoin. Much like many crypto tokens are based on animals. It is based on Shiba Inu, a Japanese hunting dog.
Shiba Inu Worth
Launched in 2020, it is an altcoin commonly refer as a Dogecoin killer. It runs on the Ethereum blockchain and has a proof-of-stake algorithm. At the start, 1 quadrillion tokens of SHIB were launched. Half were transferred to the Ethereum platform founder and another half to the Uniswap exchange. In such a short time, Shiba Inu has become the second most popular meme coin with a market cap of $4,427,001,704. So, is this coin worthy of investment? The current stats show a slight decline in the market value of Shiba Inu. However, the decline in ETH and other big cryptocurrencies is also noticed due to different factors integrating the market capital. Apart from this, SHIB price will reportedly grow to 44% by 2022 if we compare Shiba Inu with other cryptocurrencies, for example, SOL. It will be much easy to understand the potential of SHIB. SOL price at the time of writing is 43.14 $, and the market capitalization of SOL is 15.16B $. If we look at the last year’s history of SOL on Kucoin, it has shown signs of a certain decline, while SHIB’s chart is much more stable. It shows that SHIB can be trusted as a good investment and will increase shortly.
Shiba Inu Performance
Shiba Inu is an altcoin that depends on the community’s growth. The coin became a primary object after Elon Musk’s famous tweet in which he opted to buy a Shiba Inu. He doesn’t mention if he is buying a dog or a coin, but it attracts investors to consider Shiba Inu. Shiba Inu coins cannot be mined as it works on the proof-of-staking algorithm. Users earn profit by holding coins at a certain contract, similar to depositing in banking. Recently the developers have launched the SHIB token on the decentralized exchange ShibaSwap which will excel the users doing P2P trading.
Conclusion
Shiba Inu is one of the few cryptos which has captured such a large market in a minimum amount of time. The reasons are stable prices and good market value. To buy and start trading Shiba Inu coin, sign in on the Kucoin exchange as it offers users to earn interest on their coin and will be available to assist you with its supportive customer service.