People seem to think that the cryptocurrency Shiba Inu was created to compete with Dogecoin, and they may be right. But it’s only a matter of time before another meme coin is created, so what might it be?
The idea of a meme coin typically picks up traction through social media and the internet as a joke. People like Elon Musk supporting it also helps it blow up faster.
If Musk posts something about it, normally it’s price shoots up. He did that with Dogecoin multiple times, and has now done it with Shiba Inu.
In one year Shiba Inu has gone up 82,000,000%. Many are starting to avoid it now in anticipation for the next big meme coin.
What’s so volatile with these meme coins is they only do well based on the attention the internet is giving them. If the masses lose interest before you sell, then you may lose all your money and some new coin is the next big thing.
In the last month it’s gone up 700% according to Coinbase.
It’s current value for trading is $0.000109, up 1,826.17% in the last day. On Oct. 10 it was all the way up to $0.14 before dropping to $0.000088 the next day.
This specific meme coin has shown steady growth compared to others over time. The next season drops on Nov. 17 and may end up causing the value to shoot up.
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