Is the Shiba Inu (SHIB) out of style? The meme cryptocurrency appears to be losing investor interest and support.
The last month of the “dogecoin killer” crypto has seen little price movement, contradicting the mood of high volatility that has been attributed to the crypto world time and time again.
In fact, according to its chart, as of July 13, 2021, SHIB’s price appears to have dropped below $0.000007 without ever touching it again. With its pump&dump lows, SHIB maintains a stable price of $0.000006.
Nonetheless, its $2.5 billion market capitalization places it among the top 50 crypto assets by market cap, with a 0.15 percent crypto market dominance. So, what is the status of the Shiba Inu dog cryptocurrency?
Shiba Inu (SHIB) prices have risen over time.
Looking back a few months, in May 2021, SHIB was listed on the Kucoin and Binance crypto-exchanges, with an All-Time High (ATH) price of 0.038 thousandths of a dollar, representing a 1000 percent increase. At the time, SHIB was ranked among the top 20 coins by market capitalization in the entire cryptocurrency market.
Similarly, in June 2021, immediately following SHIB’s listing on Coinbase Pro, the cryptocurrency’s price increased by 24 percent from $0.000007 to $0.000009.
While SHIB’s new listing on the eToro trading platform, which took place on July 29, 2021, appears to have resulted in “price stability” at $0.000006, without even minor pumps.
Memes about Shiba Inus and NFT
Although SHIB no longer appears to be enthralling, the world of crypto memes does not appear to be going out of style. In fact, Shiba Inu just announced on Twitter the launch of a marketplace dedicated entirely to NFT memes.
Meme.com is the new marketplace for NFT memes that will be built on Polygon’s blockchain.
Essentially, Meme.com allows users to create their own Meme Token wallet, sponsor their favorite memes, and earn rewards for supporting the best-performing memes on the marketplace.
In addition to Shiba Inu and Dogecoin, other characters in the marketplace include Harold, Pepe, Distracted Boyfriend, Grumpy Cat, and many more.
In response, Johan Unger, co-founder of Meme.com, stated:
“We want meme fans to be able to enjoy their hobby while also being able to monetize it.”