Shiba Inu (SHIB) cryptocurrency has gained attention as one of the most talked about Ethereum-based meme tokens. It originated as a "Dogecoin killer" but has since grown into a standalone project with a significant community. In this article, we will look at the main aspects of Shiba Inu, its prospects, and risks for investors. Its key characteristics are:
1. The token runs on the Ethereum blockchain, providing access to smart contracts and the DeFi ecosystem.
2. Over time, the team burns some of the tokens to reduce their number in circulation and increase the value.
3. SHIBArmy Community is a strong community that supports SHIB-related projects such as ShibaSwap (a decentralized exchange).
At the time of writing, SHIB has a market cap that ranks among the top 20 cryptocurrencies. However, the value of the token fluctuates, and this is due to the following factors:
1. Like Dogecoin ($DOGE ), Shiba Inu is heavily dependent on hype.
2. Many investors use SHIB for short-term trades.
3. The token burn planned by the team may lead to a price increase.
