Hello, What is the Shiba inu token that has been very popular lately? How did the price rise?
Shib is an ERC-20 token that uses the Ethereum network, so it is traded on the Ethereum blockchain. Its price is plentiful and its total supply is very high compared to other tokens. It was initially listed on exchanges such as Hotbit, then traded on Uniswap. When it became somewhat popular, other exchanges also listed SHIB.
Elon Musk made the biggest contribution and pumping to Shib. Because Tweeter also tweeted about SHIB and its price rose rapidly. Elon Musk previously tweeted for Dogecoin. Afterwards, the dogecoin price rose 240X. That being the case, investors named the Shib "Dogekiller". Because they thought it would surpass dogecoin.
Shib price and Market Cap rose after Elon Musk tweet. Ranked 25th in the Cryptocurrency Market Cap ranking. Because he had many buyers. It had become popular all over the world.
The price went up 350X in 1 month and 6400X in 2 months. It was an incredible rise. After it became popular in all countries of the world and on the Internet, many decentralized and decentralized exchanges began to list immediately. It was the Huobi Global exchange that took the first radical step. Then it announced that it will list Shib on Binance. That's when the explosion occurred.
What Investors Think About Shib?
Investors were optimistic about the future as market statistics were good. It recently launched its own decentralized exchange and adopted and integrated the Yield Farming system.
A move came for Shib that shocked investors. Ethereum owner Vitalik Buterin bought 50% of the total supply and kept it in his wallet. Then, unexpectedly, Vitalik sold all his Shib tokens and donated them to India. After that, it was listed on India's popular stock exchange Wazirx. Investors proposed and invested in this mysterious token.
