Shiba Inu is one of the more well-known Meme coins on the market. It has been a steady fixture within the space but has seen major growth within a relatively short period of time over the last few months.
El Salvador Shiba Inu, in particular, has experienced major growth. Let’s take a closer look at this Meme coin, its rise in that area in particular, and whether or not it can see a possible top ten standing within the crypto space.
Shiba Inu Enters the Top Ten Crypto
Shiba Inu (SHIB) continues to gain in market capitalization, even outpacing Tron (TRX). It has a value of more than $6 billion USD, which ranks it 15th. But there are those who believe that it is only a matter of time before it cracks the top 10.
It has also announced a collaboration with The Third Floor (TTF), which is a world-class visualization studio. This is for both the design and construction of the SHIB.io Metaverse Project. The collaboration is important because TTF has helped create well-known Ips for VR/AR, video games, and also location-based entertainment.
SHIB has been consistently outperforming some of the top cryptocurrency options on the market of late. Meme coin, in general, has seen a major comeback with BON, SHIB, and LEASH coins, all from the Shiba Inu ecosystem receiving a major demand spike. There is also an over-the-top response coming from interested investors.
El Salvador Shiba Inu has been worth noting as well. There has been a lot of movement added to the El Salvador treasury.
How Can SHIB Crack the Top Ten?
This begs the question of what Shiba Inu can do to crack the top ten list, as far as current cryptocurrencies. Meme coins have been becoming more and more popular, thanks in large part to the Twitter feed of Elon Musk. Dogecoin was originally the one making the headlines, though Shiba Inu has finally stepped up to shine, even doing better than its competitor.
The ShibaSwap decentralized exchange makes it a crucial part of the decentralized financial ecosystem within the Ethereum platform. It also allows users to get certain functionalities—staking, fainting yield, and swapping tokens—that aren’t allowed as of yet through Dogecoin.
SHIB tokens, it is worth noting, have no escape from the bullish market. That’s not to say that it has been without its volatility. Back in May of 2020, the token hit a record price of $0.00003641 before it ultimately became one of the many victims of a bearish trend.
That said, the SHIB token has seen an incredible 40,500,000% gain in just the last year alone. This is a market trend and illustrates the potential that Shiba Inu has to turn things upside down. There are many who feel that it is just a matter of days, not weeks or months, before it joins the top ten list of cryptocurrencies.
What are the Advantages of Investing in Shiba Inu?
To those who may not be terribly familiar with the Meme coins, there are actually quite a few advantages to the SHIB tokens. If anything, they have earned the reputation as the “dogecoin killer” throughout the crypto space.
That said, SHIB is definitely seen as being an attractive option in the eyes of experienced crypto professionals and traders. There are definitely some major advantages to trading in Shiba Inu, especially right now.
It’s Cheap
Without a doubt, the best thing about Shiba Inu is its price. Even at a hugely popular price, it is still just $0.002961. Compared to some of the top names like Ethereum and Bitcoin, which can cost a fortune, SHIB tokens are not only quite cheap to get involved in but also very user-friendly.
Should investors decide to add SHIB tokens to their crypto wallet, they are able to reap huge benefits even before the coin gets anywhere near the $1 USD valuation. Buying now is the right move, and watching the price climb can lead to pretty big rewards for those who get in at the right time.
It is a Medium Asset
The success story of SHIB tokens cannot be understated. It originally began as a small asset. But with a little bit of time, it has not only survived, but thrived, succeeded, and managed to break out to the point that it has reached medium asset.
This is great because it shows just what the potential of not only SHIB is, but cryptocurrencies in general. With there being no end in sight, no one really knows where it will top out.
Extensive Trading Volume
You may have noticed how cheap SHIB tokens are, which can lead to natural questions about how it is so valuable. This is because of trading volumes. That trading volume is part of what determines if that particular token will be a success at some point in the future.
When SHIB debuted, it recorded a steady volume—around $1.6 million USD—whereas other cryptos get in the 10s and 100s. Having such a strong debut certainly helped to set the tone for future success in its various ways. It is also possible to get a ton of Shiba Inu because of the low cost, making it a user-friendly option. You can invest in major cryptocurrency without having to spend tens of thousands of dollars to get in on things like Ethereum and Bitcoin.
Conclusion
Meme coins, in general, have seen a lot of growth in a relatively short period of time, led by the ever-popular Dogecoin. But don’t sleep on Shiba Inu, which has seen a rise in market capitalization over recent months, threatening to crack the top ten.
Whether it manages to finally cross that threshold or not remains to be seen, but it certainly has all the momentum in the world right now.
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