Shiba Inu SHIB/USD was initially built as one of the many meme-coins inspired by Dogecoin; however, over time truly became something exceptional, with its own vibrant ecosystem that includes LEASH, BONE, ShibaSwap, an innovative rewards system, the Shiba Incubator, and a lot more.
The SHIB token has been trending on Twitter after Tesla’s Chief Executive Officer Elon Musk tweeted a picture of his puppy.
This is interesting due to the fact that his dog, which is named Floki, is a Shiba Inu which is the namesake for the coin.
This latest tweet caused the hashtag #SHIB to start trending on Twitter.
The #ShibArmy pushing the token to success
Shiba Inu (SHIB) has a reputation for having one of the most active communities out there that have a genuine belief in the token, and this can be seen in just the sheer number of holders of SHIB tokens.
In fact, the number has surpassed 683,000 holders, which is a live showcase of just how genuine the interest in this token is.
We also saw an insane purchase of 6 trillion SHIB on Thursday, September 30, followed by an additional 267 billion purchase today.
It is important to note that this whale spent $43,838,916 on SHIB tokens at the time of the purchase.
That’s a true soldier within the #ShibArmy. Shiba Inu (SHIB) became the biggest gainer in the top-100.
To further facilitate the incentives to use and accept the SHIB tokens, companies such as NOWPayments have even created a guide on how companies can start accepting Shiba Inu (SHIB) tokens.
In other words, we are just at the start of something truly exceptional, and we are slowly starting to see a lot more people and companies starting to embrace the benefits of the SHIB tokens.
These include low fees, multiple options for passive income with better rewards for liquidity providers (DIG), and multiple rewards for staking (BURY).
With future plans of Shiba to launch an NFT marketplace with a support of a wide range of artists from different genres and creative styles, the sky’s the limit when it comes to the value this token can achieve over the next few months.
However, the question on everyone’s mind right now is, is SHIB worth buying on October 5? Let’s find out.
Should you buy Shiba Inu (SHIB)?
On October 5, Shiba Inu (SHIB) had a value of $0.00001428.
To get a better perspective of what kind of value point this is for the token in the whole scheme of things and to evaluate its future growth potential throughout the month, we will compare it to it’s all-time high value as well as its performance in September. Let’s dive in.
To get the all-time high value out of the way, on May 10, the SHIB token had a value of $0.00003791.
When we put it side-by-side with the value on October 5, we can see that the token was $0.00002363 or 165% higher in value at its peak.
In September, SHIB had its lowest point on September 8, with a value of $0.000005605.
However, on September 17, SHIB jumped to its highest point of the month with a value of $0.000009186.
Here, we can see that from September 8 to September 17, the token increased its value by $0.000003581 or 63%.
From September 17 to October 5, the SHIB token increased by an additional 55% or by $0.000005094.
We can see clear patterns here that the token is showing no signs of stopping, and with its 700% increase in trading volume within the last 24 hours, and the increase to SHIB’s market cap by 58%, we can expect the token to reach $0.00002256 by the end of October. This makes SHIB a worthwhile purchase.
The post Shiba Inu price prediction after SHIB trends on Twitter appeared first on Invezz.
from Market Analysis – Invezz
