The Shiba Inu ($SHIB) token has seen stronger growth than all other top 20 coins the last week by percentage. The Dogecoin killer has had the best ROI thus far in January among crypto-coins tracking in the Top 12 in market cap. And now the news has gotten even better. Twitter added the $SHIB price chart to its social media platform this week, allowing 396-Million people the ability to track the meme cryptocurrency between tweets.
Why was the $SHIB price chart added to Twitter?
The reason this was added is likely a combination of popularity, brand trust, and demand. The Shiba Inu coin has a unique loyalty base unlike any other token to date. It’s composed of millions of people worldwide, many from the ‘working class,’ who believe in the brand’s leader and tech team.
Shibarium Layer 2 Technology
The $SHIB creators have followed through on promises to develop a self-sufficient ecosystem, which could lift the token from ‘meme’ status to a cryptocurrency with utility. This ecosystem, which is named “Shibarium Network,” is a layer-2 technology that is going to handle various tasks which are rumored to include, but not limited to:
- Increase transaction time to 1,000,00 TPS (transactions per second); This is important because a brand like Ethereum operates at 16TPS; Bitcoin handles 5TPS; Solana was said to handle 50,000 TPS but has collapsed since.
- This type of transaction speed would make Shibarium a valuable resource for the banking and money transfer industries.
- Burn $SHIB coins with every transaction — this means with major commercial use of the Shibarium network, availability of $SHIB tokens will decrease dramatically. This decrease will lead to a major increase of Shiba Inu token price.
- Create 2 new cryptocurrencies – $BONE and $LEASH.
- $Bone will be required for gas fees to use Shibarium. As more people join Shiba Inu’s new ecosystem and it expands, more of this coin will be needed. More usages, means higher token value.
- $Leash will be a higher priced token. It will be used to buy Non-fungible Tokens [NFTs] and to handle Shibarium’s DeFi projects, such as cryptocurrency loans.
- Make in-game transactions easier for crypto gamers
There are additional features that have yet to be revealed for the layer-2 technology as well as the aforementioned.
Coin’s Brand Value Rivals Major US Companies
While brand value dropped in 2022 due to global markets being in recession, today Shiba Inu still has a fully diluted market cap of over $5.6-billion.
For perspective, CompaniesMarketCap puts the $SHIB producer’s brand value in the ranks of global brands like Hertz Rental car company, New York Times, and Lyft ride-share company. At it’s all-time high in value, before the global recession restricted various markets, $SHIB had a market cap of over US$13,000,000,000 ($13B).
The market cap value is important because it’s a direct indicator of consumer interests in a brand. That amount of people who HODL tokens, follow a crypto company’s social media, and show general support through grassroots marketing tactics increase ‘brand value.’
Shiba Inu has one of the highest brand values of all tokens today, only rivaled by Bitcoin, Ethereum, and Dogecoin. And much of DOGE’s value comes from the massive speculation generated behind Elon Musk’s random signaling of including the token with Tesla and Twitter, which are worth Billions.
The addition of the price graphs to twitter add to it’s brand value as over 396-million people have twitter. Over 259-million use the social media platform daily.
How To See $SHIB Price Chart on Twitter
For anyone wishing to access the price of Shiba Inu coin at the moment, it’s a very simple process:
- Click the search bar on Twitter
- Type in “$SHIB”
- View the top of search
- The price chart should appear, simply click to zoom in and view detail
Robin Hood highlighted
The chat published is provided by TradingView.com and below the chart, interestingly only one trading platform is recommended — Robin Hood.
In the future there’s the possibility of other trading platforms being suggested. If not that, at least other methods of acquiring coins may be added.
$SHIB token’s price rose to US$0.000011 on Friday. This was an increase of over 10% which led the crypto-coin market on January 13th, amongst the top 12 coins.