7.6 C
Manchester
February 27, 2024
BTC Hunts
Image default
Altcoin

Shiba Inu (SHIB) Holds Potential To Take Over Dogecoin (DOGE) – Here Is Why

The post Shiba Inu (SHIB) Holds Potential To Take Over Dogecoin (DOGE) – Here Is Why appeared first on Coinpedia Fintech News

In recent weeks Shiba Inu (SHIB) has performed really well along with other cryptocurrencies. On January 14, the Doge killer successfully moved beyond $0.00001 resistance after which the currency recovered to a high of $0.0001269.

At the time of publication, Shiba Inu is changing hands at $0.00001198 with a surge of 3.91% over the last 24hrs.

Shiba Inu which is popularly known as Doge killer was created in 2021, eight years after the first meme currency Dogecoin was introduced. Mainly Shiba inu was created for the users to earn maximum rewards for the content that is created. When market capitalization of both the meme currencies are compared, Dogecoin tops the list with $9 billion against Shiba Inu’s 1 quadrillion tokens.

Shiba Inu To Overpower Dogecoin ?

Even though Shiba Inu and Dogecoin are quite similar along with Dogecoin boasting its higher market capitalization, SHIB has managed to gain a lot of traction in a short time. Through upcoming upgrades, new projects and ongoing partnerships, Shiba Inu has now become talk of the crypto space.

  1. Shibarium’s Atomic Support

Shiba Inu’s upcoming upgrade Shibarium which is a layer-2 Blockchain is set to function on Ethereum mainnet. Shibarium mainly focuses on allowing users to create their own project. Now a Crypto wallet service provider, Atomic Wallet has come in support of Shibarium.

  1. SHIB Burn

Next is the SHIB burn through which the network can increase demand for SHIB. Recently, Shiba Inu’s developer, Shytoshi Kusama has claimed to burn trillions of Shiba Inu tokens. This statement has an increased social media activity for Shiba Inu.

Moreover, not to forget that Shiba Inu has also got listed in South Korea’s lead crypto exchange, Upbit which has fueled the recent price surge. 

Related posts

Will The Crypto Bear Market Get Worse ? Or Recovery Can Be Expected?

Leslie Kim

SOL Price Explodes: Solana’s Comeback From FTX Crash Lows, Is This the Start of a Massive Rally?

Leslie Kim

Top Analyst Bets Big On Dogecoin And Other Three Altcoins – Here Are The Targets

Leslie Kim