2021-11-4 16:48 |
Shiba Inu SHIB/USD is a decentralized cryptocurrency that was created in 2020 by an anonymous person or group of people under the pseudonym Ryoshi.
It is an Ethereum-based ERC-20 token heavily inspired by Dogecoin, which over time evolved into its own ecosystem, consisting of ShibaSwap as well as the LEASH and BONE tokens.
Crypto Industry Influence and Facebook’s Meta as a reason for the dipThe Shiba Inu (SHIB) token has been getting a lot of popularity as well as momentum, alongside many new use-cases.
In an interesting turn of events, according to Etherscan, an investor transferred 40,004 trillion tokens to four different wallets, which are now worth $2.760,000,027.
This transaction occurred right after Shiba surpassed Dogecoin and became one of the top 10 cryptocurrencies in terms of market capitalization.
The price dipping could be attributed to the aftermath of the recent Squid Game token rug pull, which ended up liquidating a lot of people’s investment funds.
This contributed to a lot of newcomers pulling out their funds from SHIB in fear of the uncertain. This is mainly the result of a lack of knowledge regarding the token, however.
Additionally, Facebook’s re-branding to Meta has also contributed to this dip, as some users have moved their funds from SHIBA into trading some metaverse tokens such as SAND, ENJ, or Mana, for example.
Should you invest in Shiba Inu (SHIB)?On November 3, Shiba Inu (SHIB) had a value of $0.00006528.
To get a better perspective of what kind of value point this is for the token, we will be comparing it to it’s all-time high value as well as its performance in October.
In terms of its performance in October, on October 1, its value was at its lowest point at $0.000007179.
In terms of the all-time high value of SHIB, it was achieved on October 28 when the token was worth $0.00008616. This means that at its all-time high value, the token was $0.00002088 higher in value than its value on November 3.
However, from October 1 to October 28, the token increased in value by $0.000078981 or by 1100%.
Shiba Inu is awaiting its potential Robinhood and Kraken listing, which could potentially sky-rocket the value of the SHIB token as well.
Shiba Inu (SHIB) has seen exceptional growth, and this dip might be the perfect opportunity for newcomer investors to jump in and invest in the token.
The Shib Army is also a solid community that has an active social media presence, which consistently pushes the token forward.
That said, Shiba Inu (SHIB) has the potential to reach $0.000095 by the end of November, making it a worthwhile investment.
The post Shiba Inu (SHIB) Price Analysis: Could Robinhood and Kraken listings save the token after the recent dip? appeared first on Invezz.
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