Shiba Inu (SHIB/USD) is a meme-themed cryptocurrency that has the Shiba Inu Dog as its mascot.
SHIB was created as a direct competitor to another meme-coin, known as Dogecoin (DOGE/USD), which gave it the nickname of the “Dogecoin Killer.”
This project gained a lot of speed and popularity, and as a result of this, it started implementing numerous innovations and additions to its ecosystem, such as the BONE and LEASH tokens, ShibaSwap and is developing its own Metaverse and even stablecoin.
Large Philippines exchange listing as a catalyst for growth
Shiba Inu saw an upswing in its value as the meme cryptocurrency got listed on Coins.ph, a popular cryptocurrency exchange in the Philippines that has over 18 million registered users and is approved by Bangko Sentral ng Pilipinas (BSP).
As a result of this, the dog-themed cryptocurrency will now be accessible to a broad number of users not only in this specific part of Asia but on a global scale.
Coins.ph is also one of the oldest cryptocurrency exchanges in the region and was originally established in 2014.
Shiba Inu (SHIB) is now the 15th largest cryptocurrency in the space in terms of market capitalization, which has overtaken Tron (TRX), which is currently placed in the 16th spot as a result of this.
Should you buy Shiba Inu (SHIB)?
On July 25, 2022, Shiba Inu (SHIB) had a value of $0.00001138.
When we go over the all-time high point of value of the SHIB cryptocurrency, it was on October 28, 2021, when the token reached a value of $0.00008616.
Going over its performance in June, Shiba Inu (SHIB) saw its lowest point of value on June 18 at $0.000007262, while the highest point of value was on June 26 at $0.00001193.
This gives us an indication that the cryptocurrency saw an increase in its value by $0.000004668 or by 64%.
With this in mind, we can expect the Shiba Inu (SHIB) to increase to a value of $0.00002 by the end of July 2022.
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from Market Analysis – Invezz
