• Shiba Inu (SHIB) is a meme currency created in 2021 and is popularly known as Dogecoin’s (DOGE) „killer“.
• In recent weeks, SHIB has been performing very well and has moved beyond $0.00001 resistance.
• SHIB is set to upgrade their layer-2 Blockchain, Shibarium, on Ethereum mainnet, which could potentially help SHIB outperform DOGE.
Shiba Inu (SHIB) is quickly becoming one of the most talked-about cryptocurrencies in the crypto space. Created in 2021, SHIB is popularly known as the “Dogecoin killer” as it is similar to the meme currency, Dogecoin (DOGE). In recent weeks, SHIB has been performing really well along with other cryptocurrencies and has moved beyond the $0.00001 resistance. Currently, SHIB is changing hands at $0.00001198 with a surge of 3.91% over the last 24hrs.
SHIB has managed to gain a lot of traction in a short time, mainly due to upcoming upgrades, new projects, and ongoing partnerships. One of the most important upgrades for SHIB is the upcoming Shibarium, a layer-2 Blockchain which is set to function on Ethereum mainnet. This upgrade could potentially help SHIB outperform DOGE.
The Shibarium upgrade is expected to offer several features that will benefit the SHIB community, such as faster and cheaper transactions, improved scalability and security, and the ability to create and manage DeFi applications. The upgrade will also allow users to stake their SHIB tokens and earn rewards. This is an important move for SHIB, as it is designed to attract more investors and increase its visibility in the crypto space.
In addition to the Shibarium upgrade, SHIB has been partnering with several large companies, such as Binance and Huobi, to ensure that their tokens are more widely available. This will help SHIB become more accessible to investors and will also help increase its liquidity.
With the ongoing network updates, SHIB might soon outperform Dogecoin. While Dogecoin currently holds a larger market capitalization of $9 billion compared to SHIB’s 1 quadrillion tokens, the SHIB upgrades and partnerships may soon close the gap between the two meme currencies and help SHIB take over Dogecoin in the future.