Doge killer Shiba Inu is the new trend in the Cryptocurrency market. According to reports, a crypto enthusiast bought almost 200 billion Shiba tokens in October 2020 for just $17 and as the market went up he made almost $6.5 million from those tokens.
Shiba Inu is the flavor of the season in crypto currency market. Being the latest to hit markets, it is garnering huge attention and has emerged as favoured choice of investors, especially in wake of a tailspin in cryptos like Bitcoin and Ethereum.
Hailed as ‘DogeCoin killer’, the new crypto currency is making waves in Indian markets. It has reached a market capitalisation of more than $13 billion while Dogecoin’s valuation stands at over $61 billion.
According to reports, many Shib holders who invested in these tokens early, are now worth millions on paper.
Since May this year, Shiba inu tokens have shot up in value. According to CoinGecko, the tokens have gone from $0.0000015 to their current value of $0.00003 — a 1,900% rise.
Ethereum co-founder Vitalik Buterin’s announced burning 90 percent of his Shiba Inu holdings and donating the rest.