According to data provided by Binance, Shiba Inu is one of the most watched cryptocurrencies on the world’s largest cryptocurrency exchange by reported trading volume. The popular cryptocurrency that was inspired, launched in August 2020, is one of the best cryptocurrencies in the world by market capitalization.
2021 has proved to be a banner year for Shiba Inu owners who have seen great profits. Interest in SHIB has skyrocketed with many buying SHIB coins for quick wins. Last October, the price of meme coin reached $0.00008616, turning some of its buyers into millionaires.
This rapid increase has led many investors to expect that prices will continue to increase even in the near future. However, those hopes were quickly dashed when the Federal Reserve’s hawkish policy made SHIB prices significantly lower in 2022.
Tight global monetary policy raised borrowing costs and made investors hungry. for taking risks. The meme coin is now down 90.08% from its all-time high, which means many investors who bought into the hype may be underwater.
Despite the major correction, the popular altcoin has managed to maintain a strong community that keeps the coin moving forward.
As reported by U.Today, the team behind the Shiba Inu cryptocurrency recently teased their country with “extraordinary noise” until what some believed to be a big announcement. Some community members wonder if developers are ready to introduce a Shibarium Layer-2 solution.