Skip to main content

SHIBA INU FORECAST 2022 – MORE THAN JUST A MEME COIN?

 


One of the most important aspects of evaluating cryptocurrencies is looking at the use case that the project is pursuing. Therefore, this is also the first thing we will look at in this Shiba Inu prediction. The coins and tokens differ in all variations. While one coin specializes in fast and inexpensive transactions, another coin focuses on the creation of dApps and smart contracts. Still other coins attach great importance to anonymity. These are by no means all use cases pursued by cryptocurrencies, but listing all of them here would go beyond the scope.


Which of these categories does Shiba Inu fit into? SHIB is one of the meme coins. As already explained in the Dogecoin forecast , meme coins are among the cryptocurrencies that have no real purpose. In fact, they serve more as "fun currency" and for speculative purposes.


SHIB use cases

But does Shiba Inu really live up to its reputation as a meme coin? In fact, the token benefited greatly from the tremendous hype it has experienced. For this reason, one or the other real use case for SHIB has even emerged.


Some online platforms have already been set up that promote and allow payments with cryptocurrencies. The popularity of SHIB has allowed the token to climb into the top 15 cryptocurrencies in terms of market capitalization.


This brought the token a lot of attention, not only from investors, but also from being integrated into the online platforms just mentioned. Shopping.io announced in July 2021 that it would accept Shiba Inu as a payment method. This means that Shopping.io users can pay with Shiba Inu and more than 100 other cryptocurrencies at Amazon, eBay, Walmart & Co., among others.


ShibaSwap DEX

In this Shiba Inu forecast, we not only deal with SHIB, because a decentralized exchange (DEX) was published in connection with the SHIB token, which bears the name ShibaSwap. Some meme coins can be found on this DEX. These have piled up like sand by the sea since the SHIB hype. Shiba Inu benefited greatly from Elon Musk, who frequently commented on the tokens on Twitter.


Trading on the DEX was initially only possible via the two tokens SHIB and LEASH. The DEX enables some functions such as yield farming, trading & Co. While the start of the DEX was extremely promising and the DEX has risen to the top 25 of all DEX, the hype has fallen again and so has the ranking. Currently, the DEX is not even among the top 100.


Shiba Inu, Leash & Bone

The next big point of our Shiba Inu forecast are key data for the token. SHIB is a cryptocurrency created in 2020 by the pseudonym Ryoshi. SHIB is an ERC-20 token, meaning the token was built on the Ethereum blockchain.


The logo of the token adorns the Japanese dog breed Shiba Inu of the same name. The maximum number of SHIB is 1 trillion tokens. Bitcoin has a maximum supply of 21 million. That is a factor of almost 50 million. This is one reason why the price of a single token is well below 0.


But SHIB isn't the only token Ryoshi has targeted. In addition, the token leash with a maximum supply of 100,000 tokens and the token bone (bone) with a maximum supply of 250,000,000 tokens were released. The two tokens are also ERC-20 tokens.


Marketing attempt with Vitalik Buterin

From the start, Ryoshi tried to assert belief in his tokens. To give the system more security, he sent half of all tokens to a wallet on Uniswap, allegedly an eater address, i.e. a wallet that does not have a private key and therefore does not grant access to the tokens.


The other half was sent to Vitalik Buterin, the creator of Ethereum . But what does Buterin have to do with SHIB? Quite simply: nothing! However, with ERC-20 tokens it is actually common to send Buterin tokens. This probably serves the hoped-for marketing effect.


He donated SHIB worth $1 billion to a Corona aid organization and claims to have sent 90% of the tokens to an eater address. As a result, many of these tokens are no longer usable. However, if you follow the circulating number of SHIB, which is over 500 trillion, it becomes clear that something is not quite right here.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more