Summary:
• Shiba Inu (SHIB) token has seen a 11.58% drop in price in recent weeks.
• The public beta launch of Shibarium is expected to push SHIB’s price.
• Shiba Inu was founded by an anonymous techpreneur and has been praised by Elon Musk and Vitalik Buterin.
Shiba Inu (SHIB) Price Drops
The price of the Shiba Inu (SHIB) token has dropped by almost 11.58% in recent weeks, trading at $0.00001009 at the time of writing, well below its previous highs on the charts. Over the past month alone, SHIB has dropped by almost 24.75%, corresponding to a larger market decline caused by regulatory headwinds plus the collapse of Silvergate.
Shibarium Beta Launch
The arrival of Shibarium might potentially mark a new era for Shiba Inu, moving from being just a meme cryptocurrency to being a platform that offered genuine utility. Just last week, the project announced the public beta launch of Shibarium, which is expected to push SHIB’s price in the future.
Founders & Praise
Shiba Inu was founded in 2020 by an anonymous techpreneur, who received praise from tech billionaires Elon Musk and Vitalik Buterin for its success in attracting people who missed out on Dogecoin craze previously. Investors have increased its popularity due to memecoins not being taken too seriously and its disrupter management style when it comes to operations – beginning with a supply of one quadrillion coins locked into Uniswap and then another 50% burned to Vitalik Buterin as charity donations worth $1 billion towards COVID-19 relief fund for India CryptoRelief.
Buterin’s Contribution
Vitalik Buterin burned 90% of his Shiba Inu holdings, nearly 50% of all coins currently in circulation stored on an inaccessible public address; Ryoshi thanked Buterin for his contribution towards creating a decentralized financial system and supporting different initiatives such as Fellows in AI Existential Safety with donations from these tokens held previously before burning them away completely soon afterwards when they migrate onto their own blockchain protocol later this year 2021..
Conclusion
Shiba Inu’s potential move from just being another memecoin into geniunely offering utility could be further fuelled with speculation surrounding Shibarium’s launch along with support from both Elon Musk and Vitalik Buterin’s praises alongwith their contributions towards projects like Crypto Relief helping bolster investor confidence; these factors could potentially create value for SHIB token holders if utilized correctly over time.