The cryptocurrency world has been abuzz with news of the Shiba Inu Token (SHIB) price increase of 8000% ahead of the launch of the Shibarium platform. The SHIB token, created by the Ethereum-based decentralized finance (DeFi) platform, is a non-fungible token (NFT) that is used to represent digital collectibles.
The SHIB token has seen a meteoric rise in price over the past few weeks, with its value increasing from $0.00002 to $0.0016. This is largely due to the anticipation of the upcoming launch of the Shibarium platform, which is set to be released in June 2021. The Shibarium platform will allow users to buy, sell, and trade digital collectibles using SHIB tokens.
The increasing popularity of NFTs has been a major factor in the surge of the SHIB token’s price. NFTs are digital assets that are stored on a blockchain and are used to represent ownership of a digital asset. They are becoming increasingly popular as a way to purchase digital artwork, music, and other digital collectibles.
The SHIB token’s price increase has also been attributed to its high liquidity. The token is listed on several major cryptocurrency exchanges, including Binance, Huobi, and OKEx. This makes it easier for investors to buy and sell the token, which has helped to drive up its price.
The launch of the Shibarium platform is expected to further increase the demand for SHIB tokens. The platform will allow users to purchase digital collectibles using SHIB tokens, which will likely result in an increase in demand for the token.
Overall, the SHIB token’s price increase of 8000% ahead of the launch of the Shibarium platform is a testament to the increasing popularity of NFTs and DeFi platforms. The launch of the Shibarium platform is expected to further drive up the demand for SHIB tokens, making it an attractive investment opportunity for those looking to capitalize on the growing trend of digital collectibles.
Source: Plato Data Intelligence: PlatoAiStream