Shiva Inu, the self-proclaimed Dogecoin-killer, has shaken the market with his recent bullish momentum.
Mem coins have risen above 50% in one week, ranking among the top 12 cryptocurrencies based on market capitalization. Currently, SHIBA is the most traded currency on leading exchanges like CHIBASE, Binance and Huobi.
A meme coin is a digital currency associated with certain themes, often as a humor rather than a more serious product. Dogecoin was the first meme coin to be deployed.
Shiva Inu Protocol
Shiva Inu was developed in August 2020 by a man named Ryoshi.
Related Reading | New to Bitcoin? Learn to trade crypto through NewsBTC trading course
Last week, Shina rose to 0.000035, the second-highest record after the all-time high of 00 0.000038 on May 10.M, 2021. Just a few inches away from setting a new all-time-high record.
SHIB Token is trading upwards | Source: SHIB/USD on TradingView.com
Recently, the market cap of SHIB has more than halved the market cap of Dogecoin. Currently, Dogecoin ranks 10thM Globally, the market capitalization is $ 32 billion, while SHIB ranks 12th.
After an unnamed whale trader decided to buy more than 6.3 trillion SHIB tokens and increase SHIBS token valuation, it has expanded exponentially.
As a result, Shiva is one of the most traded digital currencies on the market this past week. With a current market cap of 13.23 billion, the currency has risen 17% in the last 24 hours.
Shiva Inu’s DEX ecosystem The installation of Shivsap and the introduction of the platform’s burn mechanism provoked a rally at the price of altcoin. Some of SHIB’s development has been a major contributor to the massive increase in cost assessment.
Notable issues include the announcement of the release of 10,000 Shiboshi in Shivsap, the implementation of the burn mechanism and the increase in the number of token holders.
Venture at Shiva Inu Gaming
As Shiva Inu prepares to win in the gaming sector, token holders are expecting its demand to increase. At first, the protocol was experiencing challenges of insufficient fluidity and accessibility of platform updates.
Due to its recent token listing on Coinbase, the insufficient liquidity challenge was largely recovered, noting that its daily turnover exceeded $ 13 billion.
Shiva Inu wins other major coins
SHIB tokens have outperformed cryptocurrencies such as ChannelLink, Avalanche, Litcoin, and Uni-Exchange.
Its double-digit rise over the past four days has helped nearly extinct altcoins make headlines again. In these few days of inflation, the meme coin has successfully removed a zero from its value after four months of depreciation.
Featured Image From Pexels and Charts From TradingView.Com