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Showing posts from January, 2023

Why Is Shiba Inu Demand Growing? The "Memecoin" Wants to Develop into Much More.

Over the past several days, the value of Shiba InuSHIBUSD -0.80%, a cryptocurrency that is essentially based on a meme of a meme, has risen. Perhaps crypto will have the last laugh. Shiba Inu's price has increased by about 25% since late Tuesday, from a little over ten-tenths of a cent per token to over twelve-tenths of a cent, bringing the year's gains to over 50%. The increase has also helped the dog-meme-themed DogecoinDOGEUSD -0.23% rise by roughly 8%, outpacing the largest cryptocurrency, BitcoinBTCUSD +0.13%, which has been unchanged during the same time period. Shiba Inu is an example of a "memecoin," a cryptocurrency that was first developed as an online joke rather than a significant blockchain project like Bitcoin or Ethereum. Shiba Inu, which was founded in August 2020, makes reference to Dogecoin, another memecoin that itself makes reference to an internet meme featuring a Shiba Inu dog that is ironically referred to as "doge." It's nearly as...