The Shiba Inu coin`s spin-off has recently surged by approximately 8000% in the previous year. The value of this crypto coin has consistently risen in value, and once again, we have Elon Musk to thank for this. On the other hand, this coin is currently trading at less than a penny, with its trading value standing at 0.00001776 on Bingbon. Fortunately, this is an increase from the previous 0.0000057. Ergo the above mentioned 8000% increase within the last year. Also known as SHIB, Shiba Inu is a token that seeks to be an alternative for the Ethereum-based Dogecoin (DOGE), the infamous meme-coin. Contrary to bitcoin, which is engineered to be rare, SHIB is purposely copious, with a current supply of one quadrillion. This token ecosystem is compatible with projects like an NFT incubator and the creation of decentralized trade known as ShibaSwap.
Since SHIB is designed to be an Ethereum token, it supports the far-reaching Ethereum ecosystem. The benefits are compatibility with Ethereum wallets, such as Metamask, Coin base, accessibility on DEXs, including UniSwap. Again, SHIB can be integrated into ETH-based DeFi uses such as savings products, lending, and NFT markets. Remember: unlike DOGE, Shiba Inu is supported by the Ethereum ecosystem, which has given the community a chance to develop crypto applications such as DEX, and ShibaSwap, letting users market and acquire tokens without a broker. Moreover, in the future, the Shiba Inu community intends to launch an NFT portfolio and DAO-based management mechanism for its ecosystem known as DoggyDAO.
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