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December 5, 2022
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Shiba Inu (SHIB) has gone out of fashion?

Shiba Inu (SHIB) has gone out of fashion? The cryptocurrency meme appears to be losing interest and support from its investors.

The last month of the cryptocurrency “dogecoin killer” didn’t see much price movement, going against the high volatility climate that has been repeatedly attributed to the crypto world.

Looking at the chart, in fact, on July 13, 2021, the SHIB price seems to have dropped below $0.000007 without ever touching it again. It can be said that with its pump & dump basses, the SHIB continues to have a stable price of $0.000006.

Still, its $2.5 billion market capitalization places it in the top 50 cryptoactives by market capitalization, with a market dominance of 0.15%. So what’s up with the Shiba Inu dog’s cryptocurrency?

Shiba Inu (SHIB) has gone out of fashion?

Thinking back over the last few months, in May 2021, SHIB was listed on the Kucoin and Binance exchanges, having its historical high price (ATH) at 0.038 thousandths of a dollar, which was a 1000% bomb. A moment that saw SHIB rank among the top 20 positions in the entire cryptocurrency market by market capitalization.

Same thing in June 2021, shortly after SHIB’s listing on Coinbase Pro, the cryptocurrency price dropped 24% from $0.000007 to $0.000009.

While last month, SHIB’s new listing on the eToro trading platform, which took place exactly on July 29, 2021, seems to give results of “price stability” at $0.000006, without having seen even minimal bombs.

Shiba Inu and NFT memes

While SHIB no longer seems captivating, the world of crypto memes doesn’t seem to be going out of style. In fact, just today, Shiba Inu shared on Twitter the launch of a market dedicated entirely to NFT memes.

“SHIB multi-bagger in late 2021. Change the Shiba Inu (SHIB), a meme token market is coming to Polygon.”

This is Meme.com, the new marketplace for NFT memes that will be created on the Polygon blockchain.

Basically, through Meme.com, users can build their own Meme Token wallet, sponsor their favorite memes and earn rewards for supporting the best performing memes on the market.

Along with Shiba Inu and Dogecoin, Harold, Pepe, Distracted Boyfriend, Grumpy Cat and many others participate in the marketplace.

Speaking of this, Johan Unger, co-founder of Meme.com, said:

“We want meme aficionados to be able to enjoy their passion and, at the same time, monetize it.”

Source: cryptonomist

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