If at one point in 2021, you were aware of Dogecoin (DOGE), then I’m confident you also know about ShibaInu (SHIB). The reason I’ve formed a relation between DOGE and SHIB is because of their similarity. Both DOGE and SHIB are meme coins that were created with a single aim, to make people laugh.
However, neither of the creators of the meme coins knew how people would appreciate their efforts in future. Although DOGE had been launched back in 2013, it wasn’t until August of 2020, a programmer created ShibaInu.
ShibaInu Also Benefited from Elon Musk
Just like DOGE, ShibaInu also entered the year 2021 not knowing what fate had decided for the meme coin. At that time, SHIB was considered the second-largest meme coin in the particular space.
However, no one had imagined it would go onto become one of the largest cryptocurrencies by market valuation. ShibaInu even engraved its name in the list of top 10 cryptocurrencies with respect to market capitalization.
Just like DOGE, SHIB also benefited from Elon Musk’s input and contribution for Dogecoin. At one point, SHIB benefited from being a meme coin. This is because when DOGE gained success, many people adopted other meme coins in sight. As SHIB was the second-largest meme coin, it started benefiting from that.
Then it was Elon Musk, who directly started supporting SHIB. After DOGE had hit its all-time high, it was SHIB who took the lead. It ended up becoming the largest meme coin and hit an all-time high of $0.00008845 on October 28, 2021.
Current Situation of ShibInu
At the time of writing, SHIB’s trading price is worth $0.00001188. It shows that SHIB is so far from even getting close to its all-time high. The elevation SHIB has witnessed in the past 24-hours is 0.70%.
Its current market valuation is worth $6,948,281,346 and the 24-hour trading volume is $561,882,201.
No Following for ShibaInu
Like BTC, ETH, and other major cryptocurrencies, ShibaInu is currently circulating aimlessly. It currently has no utility as not many mainstream institutions have adopted ShibaInu. Therefore, ShibaInu has to come up with a better utility medium to ensure its bright future.
ShibaInu has a Plan
If you are concerned about the future of ShibaInu, then don’t worry at all. It seems that the developers of SHIB have it covered because they are planning to integrate SHIB into metaverse.
Just recently, the SHIB developers revealed that they have been working with several blockchain developing companies. They are gathering the information, knowledge, and expertise to build their own blockchain-based metaverse game.
These games will be launched as Play-to-Earn (P2E) modules, allowing players to play and experience metaverse games. But at the same time, the users will be able to play earn cryptocurrencies or collectibles. It is being anticipated that the players will be able to earn SHIB by playing the games.