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December 1, 2021

Shiba Inu – Where is it going?

The Shiba Inu Coin (SHIB), which has risen by almost 45 percent in the last few days, has once again stunned the cryptocurrency world. The cryptocurrency was trading at $0.00001264 on Tuesday, with a market valuation of $4,987,163,972 after rising by 49% since Monday. Meanwhile, on Monday, all major cryptocurrency market prices remained negative, with just a minor uptick in the values of the other coins.

SHIB is an experiment in decentralized spontaneous community creation, according to their official website. The authors of this token were inspired by the Dogecoin community. Shiba Inu’s developers, on the other hand, want SHIB to be more than a joke. The SHIB Token is an Ethereum network-compatible ERC-20 token. The Shiba Inu is known in the community as the “Dogecoin Killer.” A significant community of currency holders also supports and promotes the token on social media sites such as Reddit and Twitter.

Since Wednesday, dogecoin and shiba inu have been trading places in the rankings on a regular basis, creating something of a rivalry. There is an increasing sense of popularity of digital coins across several industries, so the rise of new offerings should not come as a surprise. The online gambling space is witnessing a surge in crypto gambling, where interested crypto gamblers can check out BitcoinGG for an exclusive guide on the same.

However, despite the fact that their fans may not like to admit it, dogecoin and the shiba inu share a vital quality. Caitlin Cook, the head of community at Onramp Invest, a crypto asset management tech startup, says.

According to Cook, both are mostly influenced by the communities that surround them. “The dogecoin community and the shiba inu community are both very, very vocal and committed,” she explains.