Shiba Inu is a decentralised cryptocurrency that is modelled off Dogecoin. It was created to take over dogecoin. It has the symbol of the dogecoin, which is the Shiba Inu dog and has benefitted from its similarity.
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Shiba Inu is also known as Shiba Token. It has also been called the Dogecoin killer. The cryptocurrency was created in August 2020 by Ryoshi, an anonymous entity.
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Shiba Inu is one of the most volatile cryptocurrencies on the exchange list. In the previous month, the cryptocurrency skyrocketed to 300% in value. This was as a result of Space X and Tesla CEO, Elon Musk’s tweet. He posted a picture of a shiba inu puppy.
It may be difficult to tell the future of the Shiba Inu Cryptocurrency. This is because a number of factors can help in altering its price. This includes comments by influential personalities like Elon Musk, regulatory systems around the world and a whole lot.
For instance, in May, when Binance announced that it would list Shiba Tokens on its crypto platform, the value of the Shiba Inu increased. This also happened in September after Coinbase introduced it on its platform.