Shiba Inu is living life king size as the market is moving towards an upward trajectory. The coin breached the $1billion in market cap on Sunday and also knocked out a zero from its trade.
The meme-currency rose close to 40% in the day's trade and is now settled to around 25% in the indices. The coin is expected to shoot up further as large investments have begun to pour in.
The International Business Times had previously predicted in July that Shiba Inu would rise between 33 to 50% during the first week of August and our prediction turned out to be accurate.
However, soon after wiping out a zero from its trade, the coin again added the zero back as it fell from +40% to +25% and is now trading at $0.0000082 and is moving closely enough to knock out the zero again.
Data shows that millions of Shiba Inu coins were purchased in the last two days, giving hope to investors that the coin is still alive and thriving in the market. Shiba Inu had previously reached a market cap of $10 billion during early 2021 but plummeted during the crypto market crash.
If the coin delivers the same growth rate for two years in a row, it is poised to touch the 1 cent mark by 2026. However, considering the market conditions around the world due to the pandemic, a steady growth trajectory seems to be a pipe dream.
Shiba Inu seems to be on the right track and is listed on trading apps such as eToro among others. The developers are working towards listing the coin on other apps and the announcements would be made soon.
Also, an industry insider leaked information that Amazon might consider to accept Shiba Inu as legal payment on the website in 2022 and the team is working to finalize two coins out of four, which is SHIB, Matic, HOKK and AMP.
The developers have also launched Shiba Swap making it easier for investors to buy the coin directly from their website and not depend on third-party apps.
August 2021 has undoubtedly been a turning point for Shiba Inu after trading in red since May 2021 and it looks bullish for a comeback. Shiba Inu was trading at $0.0000082 at the time of publishing and is up 24.18% in the days trade.