Looking at the level of interest among buyers for individual cryptocurrencies, one can come to an interesting conclusion – meme coins are exceptionally popular. Shiba Inu (SHIB) is particularly prominent among them. Will this trend support the development of coins such as TREAT and SHI?
Short history, great popularity
Shiba Inu finds its origins in the second half of 2020. Since then, the self-proclaimed “Dogecoin killer” has gained many followers. The SHIB army even led to the gigantic rallies the coin recorded as late as 2021. Early investors were able to make huge money. This, of course, attracted many eager to follow suit. The results have been mixed, of course, with SHIB today trading nearly 87% below its ATH.
Nevertheless, Shiba Inu has become a much more eagerly purchased coin in many countries than Bitcoin or Ethereum. We have repeatedly pointed out its popularity in our texts. Huge demand for SHIB appeared, for example, in Turkey, a country where much higher than average inflation is rampant. So is such a high popularity of SHIB entitled to attract those willing to buy its derivative coins, such as TREAT and SHI?
An above-average volatile asset
In addition to its many supporters, the Shiba Inu has also lived to see many opponents. These include market analysts, who have often pointed out the coin’s questionable utility. They also spoke frequently about the high volatility of SHIB, which, even for the crypto segment, seemed above average.
These voices were met by the developers of Shiba Inu, who decided to strongly develop the project, giving it an increasingly strong foundation. One of the initiatives taken, for example, is the work on the SHI stablecoin. In turn, another is the TREAT token, which is to be used for collecting rewards. Also not insignificant are the upcoming Shibarium, and the ever-expanding Metaverse.
Catalysts for the ecosystem
Taking into account all the aforementioned aspects, market observers estimate that Shiba Inu has the right to face further strong growth. In addition, the past popularity of SHIB will drive SHI adoption. It is also expected to generate strong investor appetite for acquiring TREAT, which, as is officially known, will be distinguished by its limited supply, among other factors. Experts agree that in the event of another bull rally, demand for SHIB will remain at much higher levels than for other crypto assets.
Are you interested in the rapid development of Shiba Inu? We regularly report on the next steps taken by the developers on the pages of our portal. Use the magnifying glass at the top of the screen and find out more!