SHIB is a cryptocurrency that made a splash in 2021. She appeared as an alternative to Dogecoin and, until now, has her fans. It is a coin meme that went viral on social networks and increased prices significantly.
Today, SHIB is quite actively used in the market. Beginning investors often exchange SHIB USDT to diversify their portfolios. Therefore, let’s figure out what kind of coin it is, how it works, and whether it is worth investing in this cryptocurrency.
What is SHIB?
The Shiba Inu token is a cryptocurrency based on the Ethereum blockchain. Initially, it was created as an experiment. A group of developers was looking for an answer to the question, “What will happen if a group of people manages a cryptocurrency?”. As the stable rate of shib to usdt shows, the token will arouse genuine interest among users.
The main principles of SHIB:
- cryptocurrencies were created by a team of people who came together spontaneously;
- it is an entirely new project on the token market;
- and, of course, the love for dogs.
Separately, it is worth noting the popularity of SHIB in social networks. Shiba coin’s Twitter page has far more followers than the Solana, Cardano, and Kraken project.
Usually, meme tokens are of no value to investors. But not in the case of SHIB. The developers will launch their exchange, which can significantly increase the value of the cryptocurrency.
There are also two more coins in the SHIB ecosystem: LEASH and BONE. There are significantly fewer first tokens than the main Shiba Coins. BONE is available only to developers. These coins give you a say in future developments.
A distinctive feature of the SHIB ecosystem is its new perspective on cryptocurrency. The tokens are based on familiar punctures. But the developers have created their names for all processes to attract the audience.
ShibaSwap and Shibarium
ShibaSwap is an exchange where SHIB users can buy cryptocurrencies without commission and intermediaries. It stores all Shiboshis NFTs.
Exchange users can deposit their funds into pools, so other investors can use Shiba Coins for trading. With the help of betting tokens, you can earn additional income.
Shibarium is the second layer solution for the second layer of Ethereum. It reduces the cost of transactions by combining two transactions into one.
The developers plan to expand the SHIB metaverse. They plan to release non-fungible tokens and games.
Prospects for SHIB cryptocurrency
Exchanging shib usdt can be pretty risky. Usually, meme cryptocurrencies generate income in the short term as long as users have an interest. Therefore, you should not choose such tokens to get a high income. On the other hand, Shiba Coin has a reasonably low cost. You can buy cryptocurrency to diversify your investment portfolio.
In October, the value of SHIB increased significantly, thanks to which investors could make good profits. The main reasons why it is worth buying cryptocurrencies are:
- the token still has a reasonably low cost;
- high volatility;
- active development of the SHIB ecosystem.
Shiba coins run on the Ethereum blockchain. It is a reasonably stable system based on which NFTs are created. All this may contribute to the growth of the price of SHIB and its strengthening in the market.
Before deciding on a cryptocurrency to buy, you should carefully study all the information about it. Buying SHIB can be pretty risky. Its value varies depending on the interest of the user. In addition, the token does not have much utility. It is a great option to diversify your portfolio with virtual assets. But, to get real profit, you should select another cryptocurrency.