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Like many other cryptocurrencies, Shiba Inu Coin is based on the Ethereum blockchain. Shiba Inu Coin is a decentralized digital currency that aims to be a "social currency" similar to Dogecoin, which can be used for economic activities and reward mechanisms within the community. Some time ago, the large-scale destruction of Shiba Inu Coin attracted the attention of many investors, but the Shiba Inu Coin community judged that this might also be related to the upcoming opening of the Shiba Inu Coin Metaverse. It can be seen that Shiba Inu Coin has been developing applications related to hot fields. Will these bring new opportunities to Shiba Inu Coin? Will Shiba Inu Coin still rise in the future? Let the Coin Circle editor predict the future price of SHIB Coin for everyone.

 Will Shiba Inu Coin still rise?

Shiba Inu Coin can still rise. The Shiba Inu Coin Metaverse, which will be opened at the end of 2023, will bring benefits to Shiba Inu Coin. In 23 years, we should see more features of Shiba Inu Coin, which will be a key part of Shibverse and ShibaSwap. These use cases may help push it to $0.000040.

Despite price fluctuations in the cryptocurrency market, the value of Shiba Inu Coin is relatively stable, which means it can be used as a value storage tool. Shiba Inu Coin has a unique brand image and strong community support in the cryptocurrency market. Its advantages and strengths such as decentralization, fast transaction speed, low transaction fees, active developer community and stable value make it a very promising cryptocurrency.

 Introduction to Shiba Inu Coin Project

The Shiba Inu (SHIB) cryptocurrency emerged in 2020 when meme-based coins such as Dogecoin became popular as a community-based project. The project's official website bills it as "a decentralized meme token that has evolved into a vibrant ecosystem," and the project's anonymous founder Ryoshi said, "We are an experiment in decentralized spontaneous community building."

The SHIB token is based on the ERC-20 Ethereum standard. The Shiba ecosystem has grown to include the ShibaSwap decentralized exchange (DEX), which aims to compete with other cryptocurrency DEXs such as Uniswap (UNI) and Sushiswap (SUSHI) as well as LEASH and BONE tokens and Shiboshi non-fungible tokens (NFTs).

According to the developers, SHIB was created with a total supply of 100 billion tokens, and is designed to allow users to hold billions or even trillions of tokens. This means that the value of the token can remain well below $0.01, but will still bring rich returns to holders with a large number of tokens.

The developers locked 50% of the total supply of SHIB tokens to Uniswap DEX and sent the remaining 50% to Vitalik Buterin, the creator of Ethereum (ETH). Buterin donated more than 50 trillion tokens to the Indian Covid-Crypto Relief Fund, which was worth more than $931 million at the time, and destroyed 90% of his remaining SHIB holdings, indicating that he did not want to control other crypto projects.

Through the above prediction of the future price of HIB coins, I believe that investors will have a more thorough understanding of the question of whether Shiba Inu coins can still rise. Shiba developers launched a coin burning portal on April 23 in response to the community's request to reduce the circulating supply. The Shiba
Inu community destroyed more than $3 billion of SHIB tokens in April, reducing the total supply of the meme-inspired cryptocurrency through a total of 125 transactions. The Shiba Inu coin destruction mechanism can promote currency stability, encourage long-term holding, increase community participation and network security, help maintain currency price stability, and make holders' investment more valuable.