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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Although the investment landscape is exceptionally volatile at this moment, it cannot be denied that cryptocurrencies yielded massive amounts of profits for their investors since March 2020. According to reports, the cryptocurrency space has gained over 79% value since its dive in march 2020. Shiba Inu has been at the top among all the major cryptocurrencies that have yielded benefits for its investors. Even though we mostly talk about Bitcoin and Ethereum as the major gainers of the market in 2021, it has always been Shiba Inu that has attracted the attention of several new cryptocurrency investors to the digital asset domain. Last year, SHIB delivered some of the greatest single-year returns that the market ever witnessed. Within quite a short period of time, SHIB was able to gain bewildering profits of about 121,000,000%. In fact, for quite a short period of time, SHIB was able to take over Dogecoin to become the largest meme coin. But as the market fell, Shiba Inu lost most of its market dominance. It has been quite a while since investors have expected to witness some improvements in its price, but unfortunately, crypto has been in a constant downtrend. But as we proceed forward with 2022, Shiba Inu seems to have been gaining momentum and it seems like it is going to become the top altcoin in this bearish crypto market.
Recently, there have been several controversies around Shiba Inu and its prominence in the future. Amid the market's immense volatility, SHIB's creator Ryoshi resigned leaving investors speculating about what exactly went wrong! Meme coin Shiba Inu's pseudonymous founder Ryoshi has deleted all of his tweets and blogs. His last post was posted in May 2021 and after a year of silence, the creator and founder of Shiba Inu has removed all his articles and blogs from the social media platform Twitter. This created numerous speculations in the investor community about the real reason why the creator resigned. After this sudden incident, experts predict that the SHIB price might be experiencing some downtrends again! Nevertheless, Shiba Inu might explode soon as developers are striving hard to help SHIB gain its prominence.
Shiba Inu will now be used to book supercars like Ferrari, Lamborghini, Rolls-Royce, Aston Martin, and several others. Crypto-friendly travel website Travala added this to support the adoption and awareness around Shiba Inu. Global users can utilize their SHIB tokens to be used to book more than three million travel products on their website, including flights, hotels, and travel packages. With this, SHIB continues to experience acceptance as a payment method in the evolving travel industry. But there are several other factors that will determine SHIB's influence in the market.
The latest addition to Shiba Inu's network is the ShibaBurn and the ShibaSwap. The metaverse has become an important playing field for the top industries. Like several other metaverse-focused cryptocurrencies, SHIB's metaverse plans include selling virtual land or plots. After minting their lands using the SHIB tokens, investors can rename plots and even lease them, all of which will leverage the Shiba Inu tokens and even burn them, which will even increase their value in the future.
The beginning of May witnessed a rally of around 35%. But after the market entered a sell-off season, SHIB started falling massively and none of its initiatives were working. Since then, the token seemed to have been recovering. Even though more than often Shiba Inu's initiatives have failed to impress the investors, it seems like the crypto will still prevail and push through its bearish price trends. The token's price might be largely affected by social media activities. Nevertheless, SHIB developers are paving the path for some robust use cases that will enhance the crypto's prominence in the market.
