Will SHIB Implement a Big Burn Anytime Soon?
Market Watch reports that SHIB is the 3rd most searched cryptocurrency on Google 2021. The meme coin has been touching all-time highs recently. On October 28, 2021 it was at $0.00008845. The ROI was reportedly at 4003200.05% The talk doing the rounds is that the price of SHIB influenced by 8 cryptocurrency whales. And, the recent excitement is about SHIB going to be listed in Robinhood.
With the idea of Robinhood listing confirmed doing the rounds, the Price Prediction for 2021 for Shib states the token will hit $0.01. So, if Robinhood will list Shiba, the expectation is that the price will be pushed up even further once it happens.
For clarity, Robinhood is involved in the job of democratizing finance for all. Robinhood Financial LLC is a registered broker dealer (member SIPC). Robinhood Securities, LLC provides brokerage clearing services (member SIPC). Robinhood Crypto, LLC provides cryptocurrency trading.
Market Watch reports, “Shiba Inu has received 2.8 million searches on average per month so far in 2021.”
There was a jump in volume in Shiba Inu’s decentralized exchange Shiba Swap. There was a jump in trading volume during October. Recently, SHIBA moved from being a meme token to a DeFi ecosystem.
Recently there was a controversy in the SHIBA Ecosystem: The joke is on Shib hodlers, the circulation of Shib tokens has increased by more than 170 trillion tokens, where’s the burn of the tokens? By releasing trillions of coins the price has gone down.
For clarity, holders have to state that more than 170 trillion tokens were released in to the ecosystem. And because of that the price went down. However, lot of clarification were provided by people who understood the ecosystem and they justified stating, “Nothing was added, however long way to even 0.01.”
The widespread belief for now is that SHIB Implementing a big burn anytime soon will be helpful to improve the price of SHIB. Also, the community acknowledges that there are NFTs and Now Payments, but they have to state that it is doing very little for the betterment of SHIB.
Several investors in the ecosystem are those who buy it because it is inexpensive and many are not sure of how to make their profits in the ecosystem. Some are like, “I have had all my SHIB Staked since day one. Does anyone know what you get for doing it?”
Regarding, the process of comparing SHIB and DOGE and the projection of SHIB as Doge Killer, analysts opine that it is unfair to compare DOGE and SHIBA directly. It is true that both of these tokens started as meme coins, but eventually they became more than a meme.
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