Surge Inu Price SURGE, Market Cap, Charts, and Info

That eye-popping return also means that Shiba Inu has achieved its founder Ryoshi’s objective of creating something from nothing in spades. However, those gains may likely have been driven by social-media-fueled speculative frenzy as cryptocurrency enthusiasts look for the next big thing. If the bubble bursts, retail investors who got in at the highs may be left holding the bag. A tweet from Tesla founder Elon Musk on Oct. 3, 2021, featuring a picture of his new Shiba Inu puppy Floki provided the initial impetus for the meme coin’s price surge. Investing in the altcoin/meme coin space presents an additional challenge because of a lack of differentiation and the fact that most of their value is based on frenetic trading by their fanatical followers.

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss. It has spiked from $21.92 at the start of July to $32.96 at the time of writing, representing a 50 percent philip mckeon cause hike in 3 months. The prominent mining pool operator, AntPool, has also come out and publicly supported ETC with a $10 million investment to back quality projects built on Ethereum Classic . However, ETH is not the only cryptocurrency that could gain from the network’s switch to PoS. The effect of The Merge is also expected to rub off on a few other coins.

That being said, I wouldn’t recommend buying Shiba Inu in hopes that it will bounce back. Buying based on popularity is a huge gamble, and these meme coins and stocks rarely have continued success. Another major threat to Shiba Inu is interest rate hikes, which tend to drive consumers away from high-risk investments. The jump came as Shiba Inu’s official Twitter account teased a possible partnership with crypto exchange Coinbase. Valentine’s Day is approaching and we have a pending match,” the tweet read, causing prices to surge in early Asian trading hours.

With the cryptocurrency sector battling a bear market, the sudden rise in price in LTC stands out when compared with other cryptos. This calculation shows how much cryptocurrency can cost if we assume that their capitalization will behave like the capitalization of some Internet companies or technological niches. If you extrapolate the data, you can get a potential picture of the future price for 2022, 2023, 2024, 2025, 2026, and 2027. Decentraland is a digital game that is part of a growing trend that has led to metaverse-related coins proliferating dramatically. Established in 2013, Dogecoin is a peer-to-peer, open-source cryptocurrency that is categorized as an altcoin. “Shiba Inu and Dogecoin Are Together Now Worth More Than 388 of the Companies on the S&P 500.”

This is the native cryptocurrency of XRP Ledger, an open-source, public blockchain. Baby Doge is a cryptocurrency token available to trade on decentralized exchanges. In addition, crypto investors were enthused by the launch of Shiba Inu NFTs, as well as unconfirmed rumors that SHIB would be listed on popular stock and crypto trading app Robinhood. Because Shiba Inu is an Ethereum-based ERC-20 token, it is created on and hosted by the Ethereum blockchain, instead of its own blockchain. Ryoshi states in the paper that he chose to build the Shiba Inu ecosystem on Ethereum because it was already secure and well-established, and it allowed the project to stay decentralized. As a reminder, when users interact with a blockchain like Ethereum, they pay ‘gas fees’ to the Ethereum network for the computational cost of the onchain activity.

The company announced the launch of ‘Riskometer’, which helps users think twice before investing in a coin. The Riskometer provides a risk warning on coins that are highly volatile, or when the company feels that users need to proceed with caution while investing. Crypto-centric stocks dropped on Friday, with Coinbase Global Inc. at one point losing nearly 16% and falling to its lowest level since its public debut in the spring of 2021, Bloomberg data show.

On the other hand, blue-chip crypto, bitcoin, is up around 340% on a yearly basis. Created in August 2020 by an anonymous person known as Ryoshi, Shiba Inu coin’s price is negligible, which allows investors to hold billions and even trillions of this coin. A contract address hosts a smart contract, which is a set of code stored on the blockchain that runs when predetermined conditions are met. Volume 24h is referring to the total amount of a cryptocurrency traded in the previous 24 hours. According to the exchange, while it does provide user data to agencies in certain circumstances, it doesn’t give those agencies direct access to said user data. These included Spain (940%), Belgium (400%), Italy (281%), The Netherlands (163%), Austria (141%), and Ireland (118%).

Here are some investing considerations for a potential investor in Shiba Inu. You can also use any number of online crypto exchanges to buy or convert tokens into SHIB. In keeping with the dog theme, the aforementioned Shiba Inu woof paper uses canine terms to describe how returns can be generated from one’s Shiba Inu tokens.