Highlights:
- Shiba Inu is making remarkable progress in the crypto market.
- Mega Dice poses a challenge to its growth.
- The future of Shiba remains a difficult task to predict.
The crypto world is in constant flux, and something new is cooked up every day. Shiba Inu’s recent dominance is a glaring example. The popular ERC-20 meme coin is doing better than Bitcoin, Ethereum, and Dogecoin. Thus, it has become one of the top digital asset investments of 2024.
Right now, Shiba Inu is priced at $0.00002762, more than 200% higher than last year. In comparison, Bitcoin is up 158%, Ethereum is up 115%, and Dogecoin has grown 137.5% over the past year. However, in the last three months, Shiba Inu has faced some resistance, even though its support level is increasing.
Mega Dice: The Tempter
Shiba Inu seems to know that only a few meme coins will stay alive once crypto becomes a common payment method. That is why earlier this year, its team announced a $12 million fundraiser for a new privacy-focused layer-3 blockchain. However, for those looking to diversify their portfolios, there are many new projects. This hints at a bright future for crypto beyond just payments or storing value.
One such sector is GambleFi, which includes any crypto-based online gambling platform or product. It is a known fact that online gambling could generate $100.90 billion in revenue this year. Therefore, in such a scenario, new tokens in this space act as both playing chips and loyalty cards. Solana GameFi token Mega Dice had its ICO start in mid-April and has already raised over $1.2 million, according to its website.
Mega Dice, launched last year, is the world’s first licensed crypto casino accessible through Telegram. Since then, over 50,000 players have signed up, making the casino a well-known name in GambleFi.
$DICE presale has raised $1 MILLION! 🚀🚀
— Mega Dice Casino (@megadice) May 15, 2024
This #MillionDollarMilestone brings us closer to revolutionizing GameFi. What's coming next?👇
Next tier price: 0.075 💰
Next presale target: $2M 💰
We're implementing multiple tiered price increases, so make sure to secure your $DICE… pic.twitter.com/MDfn5lVhju
About Shiba Inu
Shiba Inu is a decentralised cryptocurrency and meme coin inspired by the Shiba Inu dog meme. It was created in 2020 by an anonymous person named Ryoshi as a competitor to Dogecoin. What is more interesting is that SHIB is built on the Ethereum Blockchain and is an ERC-20 token. Therefore, unlike Bitcoin, which is designed to be scarce, SHIB has a total supply of one quadrillion tokens.
Future of Shiba Inu
It is true that predicting the performance of cryptocurrencies, especially Shiba Inu, is challenging. However, certain factors could influence its path. Elon Musk’s endorsement boosted Shiba Inu, increasing its price by 4000% in three months to a peak of $0.000035. But the high didn’t last long, and the coin lost 90% of its value.
A broader bull market for cryptocurrencies could raise Shiba Inu’s price. As more investors and institutions see the potential of digital currencies, it benefits all cryptocurrencies, including Shiba Inu. The recent excitement over the approval of 11 spot Bitcoin ETFs is an example. Due to this excitement, Shiba Inu’s price nearly tripled in the past few months.
Another factor is the popularity of meme coins. They often surge due to social media trends and celebrity influence, but the duration of their popularity is uncertain. However, it is difficult to say how long this popularity will last.
