Experts say that the price of the meme coin will be worth $10 by 2024 thanks to the metaverse platform.
Meme coin has experienced great development
Shiba Inu is a popular dog themed meme coin gaining popularity in the market. Cryptocurrency started out as just a joke and gradually proclaimed more than a joke to me. Since its launch, the Shiba Inu price has experienced a huge improvement.
Although the cryptocurrency initially had very limited popularity, it rose in 2021 and became the center of attention. According to cryptokoin.com data, the Shiba Inu is trading at $0.00001305. There are experts who believe that the Shiba Inu will be worth $10 by 2024.
The appearance of the Shiba Inu in the metaverse world called Shibaverse may increase the trading prices. To exploit the scam, Shiba Inu developers created ShibaSwap, a decentralized exchange that competes with well-known brands like UniSwap and Curve Finance.
SHIB can be used as a payment method
ShibaSwap has accumulated nearly $1 billion in total assets locked within 24 hours of its launch. SHIB’s status as more than a simple meme coin was reinforced by this. Shopping.io received another major boost when it announced a collaboration with Shiba Inu. Thanks to the collaboration, customers can now use SHIB as a payment method on eBay, Walmart and Amazon.
The implementation of Shibarium by the Shiba Inu impacts the coin to meet $10 by 2024, for the same reason 2024 will be a promising year for the Shiba Inu. With the Shibarium upgrade, users will be able to transfer assets at a lower gas price, making it easy to complete small transactions via dApps powered by Shiba Inu. To improve the platform’s user interface and user experience, the team also recruited developers.
Like many other cryptocurrencies, the value of the Shiba Inu is highly correlated with Bitcoin’s performance. The price volatility of the Shiba Inu is significantly affected by BTC. For example, SHIB and BTC have an 85% link in the last 30 days.
Why is SHIB so popular?
Tesla founder Elon Musk once tweeted that he wanted to have a Shiba puppy. This energized the cryptocurrency market and caused its value to increase by 300 percent.
After Vitalik Buterin, creator of the Ethereum Blockchain Network, contributed 50 trillion worth of Shiba Inu Coins to the India Covid Relief Fund, founded by an Indian cryptocurrency businessman named Sandeep Naiwal, their prices have dropped by as much as 40%.
SHIB is a peer-to-peer (P2P) virtual currency, almost identical to DOGE, that allows users to make and receive decentralized payments. Compared to DOGE’s ten minutes, the Shiba Inu’s fast block time is only one minute.
Since decentralized Bitcoin exchanges do not depend on centralized power, there is no single point of failure for the company. Also, decentralized exchanges are generally more resistant to fraud and cyber attacks.
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