ShibaInu Coin gained + 329% in the week. It is the 13th largest cryptocurrency in the world

The token, which was supposed to be a joke, is just breaking popularity records. ShibaINU Coin (SHIB) recorded a 329% increase in the week and thus warmed up speculative enthusiasts. Because the creators of this token do not hide that it is to be used only to earn on it. Where is the border? History shows that - at least in this case - it may not be at all. 

It started with a 70% increase in one day after the billionaire Elon Musk posted a photo of his puppy on Twitter, which is a dog of the Shiba Inu breed. It is a Japanese breed of hunting dogs, but also a cryptocurrency logo of the same name.

The massive growth continues for the fourth day in a row, which has already translated into a jump to the top cryptocurrencies in terms of capitalization. As of this writing, SHIB is already in 13th place among all cryptocurrencies in the world with a capitalization of $ 15 billion.

ShibaInu Coin Chart (SHIB / USDT), D1 interval. Source: Binance platform

ShibaInu COIN - the purest form of speculation

It is worth recalling that the Shiba Inu (SHIB) token has already experienced spectacular increases this year, when from its debut to May, its price increased by ... 2% (say: two million and three hundred thousand percent). Nobody pretended - especially its creator - that this cryptocurrency is not a complicated ecosystem with its own blockchain platform, which is to solve real problems or offer new services. This was to be purely a speculative asset from the outset. And is.

But why was it created? It started last year as Elon Musk's tweets rocked the cryptocurrency market anew. Back then, he wrote mainly about the token Dogecoin, which was created as a joke and was supposed to be a response to the campaign for cryptocurrencies after the arrest of criminals from the Silk Road exchange, settling in cryptocurrencies. Let us remind you that Dogecoin is a cryptocurrency with the logo of which the dog looks at us - the hero of countless memes around the world. It was supposed to be a joke, but she had repeatedly "pumped up", which allowed many people to earn a lot of money.

Anonymous developer Dogecoin Killerso he created a Shiba Inu token in response. This was supposed to be a cryptocurrency joke as a joke. The double bottom turned out to be a project well received not only by the blockchain community, which started the rally we wrote about in May this year. For five months the rate has increased by an unimaginable 2%. And it could be treated as a meaningless curiosity if it were not for publicly available cryptocurrency wallets. It turns out that a real fortune has been accumulated in many of them.

One of the investors, who of course preferred to remain anonymous, proved that he spent a "staggering" amount of USD 17 on SHIB tokens, for which he bought 200 billion tokens. And he did. After a few months on his account they already had a value of ... USD 6 million! Maybe it's not a classic "American dream - from zero to millionaire"but sacrificing the amount for which you can eat a nice burger was probably not a big deal. The effects, however, certainly exceeded all expectations.

The Shiba Inu (SHIB) token is available on Binance Stock Market. Create an account from the link below i save -10% on commission.

Will there be a repeat of the entertainment?

Can this rally be repeated now? Of course, we do not know the answer to this question, but currently the SHIB token can be purchased at 23 cryptocurrency exchanges around the world, including on Binance, so the availability is certainly greater than a few months ago. Therefore, we wish all owners of this asset that they would manage to get out of this roller coaster at the very top. Before it starts sliding down from it even faster than it goes there.