Once Known As the Dogecoin Killer, Is Shiba Inu Past Its Glory Days?

Everyone in the crypto community is aware of Shiba Inu, be it from the cryptocurrency’s surge in price last year or as a result of references from popular names like Elon Musk, the world’s wealthiest man. Nobody can dispute that Shiba Inu has made significant strides in the past year. Since late 2020, the cryptocurrency has undergone a staggering gain of more than 41,000,000% in value as a result of its ability to capture the attention of investors. This cryptocurrency, also known as the Dogecoin killer, was created in August 2020 by a founder who goes by Ryoshi with the aim of overtaking Dogecoin as the most popular meme coin, and it has definitely proven to be much more than your conventional meme coin. Since it is built as an ERC-20 on top of Ethereum’s blockchain, unlike Dogecoin, which can only be used as a digital currency due to having a code that is similar to Bitcoin, Shiba Inu can be used to create much more advanced applications, such as decentralized exchanges and non-fungible tokens (NFTs). The SHIB meme coin surpassed Dogecoin as the most valued meme currency in November 2021 and it had a price of $0.00008845 when it hit its all-time high. Is the Hype Cooling Off? However, despite Shiba Inu’s quick rise in popularity and price, it seems that the hype is wearing off, as the meme coin’s current price is now a long way from its all-time high. Since its highest value of $0.00008845 in late October 2021, the dog-based...