Shiba Inu (SHIB) it is one of the most popular digital assets in the crypto industry that has attracted more attention and investors to the space largely due to its price performance. The asset, at the beginning of last year, was trading at $0.000000000073, however, its price touched a maximum of $0.00008841, 10 months later. This meant that any trader who had invested in the asset would have seen his investment increase by 121,000,000%, meaning an investment of just $1 would have made the investor a millionaire. The impact of Shiba Inuand other similar tokens, was so important to the crypto ecosystem that many analysts noted that they played a larger role in the demand for digital currencies and the increase in the number of investors globally than the flagship digital assets, Bitcoin Y ethereum. While many are still unaware of the factors responsible for its huge rise in value, some have posited that the dynamics of the crypto market played a role in propelling it to such heights.
Can Shiba Inu (SHIB) repeat this feat?
The shiba inu ecosystem, without a doubt, has grown exponentially in the last year. Several major crypto exchanges like Binance and others have listed the asset. And along with the launch of a decentralized exchange ShibaSwap, the asset’s trading liquidity improved dramatically in a very short period of time, helping to increase its value. Other than that, the project is expected to launch its highly anticipated project Shibarium that would bring more developments to its ecosystem. According to the developers, Shibarium is designed to make Shiba Inu transactions cheaper and cheaper. Although its launch date is still unknown, it is believed that it could be launched in mid-2022. With all this in mind, its more than 1 million holders will hope that the price of the asset will be able to eat another zero. At press time, the Shiba Inu is trading at $0.00001992 according to Coingecko’s data.