According to this plan, the Shiba Inu coin will continue to rise

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As Dogecoin nears its goal, Shiba Inu and its fast-growing ecosystem are also hoping that one day its biggest rise will come.

Shiba Inu (SHIB), the DOGE-inspired meme, is off to a good start this week as its price is seeing bullish momentum today, as the uncle you got is massive enough that it resisted a massive selloff after recording the biggest dump in coin history.

The expected impact of this dumping was mitigated as more investors saw the dumping as an opportunity to strengthen their position in the digital currency.

At the time of writing, Shiba Inu's price is trading at $0.0000029, after rising 13.05% in the last 24 hours.

Last week, SHIB rose by 195.11%. Selling interest in Shiba Inu appears to be gaining momentum, as shown by Google Trends, as data shows that searches for “Shiba Inu” are currently at 92, a slight drop from the high of 100 recorded in May of this year.

And this retail support is not only supported by the so-called Chiba Army but is also backed by other potential investors looking to take a position with meme coin.

The price of Shiba Inu... Trip to 1 dollar

The Shiba Inu was created to be a formidable competitor to Dogecoin, and Elon Musk, a major proponent of the latter coin, may have also liked the Shiba Inu.

As Dogecoin nears its goal of reaching its perpetual goal of $1 despite a massive supply of 131.6 billion coins in circulation, Shiba Inu and its fast-growing ecosystem are also hoping that this feat will one day be achieved.

Shiba Inu impressed its early supporters, with an ROI of 180,9563.85% according to CoinMarketCap data. The coin supply is 1 quadrillion.

The original design of the Shiba Inu coin was that 50% of the total liquidity was reserved on Uniswap and that 50% of the total supply was given to the founder of Ethereum, Vitalik Buterin.

The bulk of Vitalik's gift was burned while 50 trillion SHIB coins were donated to the India Covid-19 Relief Fund as a charitable foundation.

While the journey to $1 seems somewhat impossible, the cryptocurrency ecosystem has shown that there is almost nothing impossible in the cryptocurrency industry.

Among the plans that the Shiba Inu team believes will aid the coin's price in this ambitious endeavor, is to build the ecosystem around the cryptocurrency including maximizing the proposed ShibaSwap platform, as well as the periodic burning of SHIB coins.

 

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