The unexpected success of Dogecoin (DOGE) price will not leave you indifferent, and some had the idea to launch a copy of the world famous cryptocurrency.
Thus, the Shiba Inu (SHIB) cryptocurrency was born, and its price has skyrocketed since its launch.
The SHIB token is an ERC-20 cryptocurrency and is already ranked 19th on CoinMarketCap!
The Shiba Inu is the Japanese dog breed that we see on the Dogecoin logo, a friendly dog that has become world famous thanks to the DOGE token and Elon Musk, who promotes it on his Twitter account or on TV like last Saturday night. Live.
The creators of the Shiba Inu (SHIB) token fully intend to ride the wave of euphoria from Dogecoin simply by launching a copy of this cryptocurrency, whose price has skyrocketed in recent months.
SHIB token, which already represents the “Doge Slayer”.
To everyone’s surprise, this copy of Dogecoin is also very successful and has even been listed on Binance’s Innovation Zone.
SHIB price increased by 160% so far this crypto project is not based on anything specific other than copying Dogecoin.
DOGE token, which is also a simple exchange token that allows you to send or receive funds in this cryptocurrency.
Today’s cryptocurrency market is mainly based on speculation, more precisely, cryptocurrencies are not yet widely used by the general public or businesses.
Since then, Shiba Inu are well aware of the Dogecoin fashion. and attract many buyers who hope to make money easily if the SHIB price soars in the same way as the Dogecoin price in recent months.
Therefore, we have to be careful when buying tokens such as the Shiba token, which is essentially taking advantage of the Dogecoin cryptocurrency craze, hoping to generate similar profits.
The launch of “copies” of the cryptocurrency is certainly not news, Litecoin is thus a derivative of Bitcoin, many cryptocurrencies are born by copying the code of other digital currencies already on the market.
However, nothing guarantees their success or longevity, many cryptocurrencies have disappeared if we look at Coinmarketcap’s ranking 5 or 8 years ago.
Thus, the crypto-SHIB launches itself in the hopes of achieving the same success as its Dogecoin model, which is backed by Elon Musk, who will also send a satellite into space called DOGE-1 and which will be paid for in DOGE tokens. !