Crypto Asset That Surged 47,387,400% This Year May Become Surprise Player in Ethereum Ecosystem, According to Coin Bureau
The crypto analyst and the host of Coin Bureau may be changing his mind about the Dogecoin (DOGE) copycat, Shiba Inu (SHIB).
In a new strategy session dedicated only to Shiba Inu, the Coin Bureau host known as the Guy says that since Coinbase decided to list SHIB, he’s started to pay closer attention to the asset.
“Shiba Inu is one of the cryptos in this category, and it’s one that I’ve only ever mentioned in a negative context. But when I heard that Coinbase will be listing SHIB, however, I began to consider the possibility that there might be more to Shiba Inu than meets the eye.”
Shiba Inu, in part thanks to the tweets of Tesla CEO Elon Musk, has skyrocketed by 47,387,400% after trading at $0.00000000008 on January 1st to an all-time high of $0.00003791 on May 10th before crashing back down, according to CoinGecko.
The analyst suggests that SHIB may have close ties to the Ethereum ecosystem. Unlike Dogecoin, Shiba Inu could have a serious development team, and its creator Ryoshi is a big name in the crypto space.
“Where Shiba Inu and Dogecoin differ are the connections they have to the crypto community. DOGE is really just a meme and nothing more… By contrast, SHIB is close to becoming a big player in Ethereum’s ecosystem by overcoming the shortcomings of Dogecoin. As community-driven as Shiba Inu is, there definitely seem to be some seriously prolific people behind the project.“
The Coin Bureau host says that while he is not fully sold on the project, he does admire that the meme currency is attempting to benefit all holders, not just those that got into the project early.