Leading crypto exchange Bitstamp provides an overview of Shiba Inu, suggesting that SHIB is a star coin.
Bitstamp gave the analysis in a recent X post titled “Shiba Inu Spotlight!” Interestingly, the exchange placed Shiba Inu in between two bright stars. This triggered speculation that the exchange could be referring to SHIB as a star coin.
Shiba Inu Transformational Journey
Notably, Bitstamp’s overview of Shiba Inu highlights the token’s transformational journey from a memecoin to a coin with growing utility. According to Bitstamp, Shiba Inu was created in 2020 by a pseudonymous developer, Ryoshi, with solid backing from its vibrant community.
Although Shiba Inu started as a memecoin, Bitstamp indicated that the token’s utility cut across various sectors, including decentralized finance (DeFi) and non-fungible tokens (NFTs).
Bitstamp Spotlights Shiba Inu’s New Game
Specifically, Bitstamp mentioned Shiba Inu’s new game, Shiboshi Rush, as one of the cryptocurrency’s utility projects. Recall that Shiboshi Rush was introduced recently by PlayWithShib, the cryptocurrency’s gaming arm.
The action-packed adventure game enables players to battle and eliminate evil Shadowcats. Commenting on Shiboshi Rush’s release, Bitstamp said the game further expands the Shiba Inu ecosystem, incorporating both blockchain and NFT features.
It bears mentioning that Bitstamp’s post is part of the exchange’s efforts to promote the widespread adoption of Shiba Inu. The exchange portrays Shiba Inu as a star coin that has transformed from a memecoin to a token with growing utility, highlighting Shiboshi Rush as a project that further expands the cryptocurrency ecosystem.
Shiba Inu’s Path to Stardom
Shiba Inu has proven itself to be a viable crypto project. After its launch, many crypto stakeholders initially wrote off Shiba Inu as just another memecoin experiment, but SHIB stunned the industry with its remarkable success.
Following its launch, Shiba Inu surged by over 150 million percent in over a year, hitting an all-time high of $0.00008845 on October 28, 2021. Ever since, Shiba Inu has grown from a token to an ecosystem, with enormous projects like a Layer-2 blockchain (Shibarium), NFTs (Shiboshi, games (Shiba Eternity and Shiboshi Rush), and Shib Name Service, among others.
In the meantime, the price of Shiba Inu has rebounded after plunging below $0.000016 earlier this week amid rising geopolitical tension in the Middle East. Currently, Shiba Inu is trading above $0.000017, with a token priced at $0.00001760, reflecting a 7.26% surge in the past 24 hours.
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