{"id":192766,"date":"2021-10-19T03:00:29","date_gmt":"2021-10-18T21:30:29","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=192766"},"modified":"2021-10-19T09:08:51","modified_gmt":"2021-10-19T03:38:51","slug":"can-newfound-respect-for-shiba-inu-help-it-cross-1","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/can-newfound-respect-for-shiba-inu-help-it-cross-1\/","title":{"rendered":"Can &#8216;newfound respect&#8217; for Shiba Inu help it cross $1"},"content":{"rendered":"<p>October has been a good boy where the Shiba Inu [SHIB] token is concerned. With a meteoric <a href=\"http:\/\/ambcrypto.com\/unlike-shiba-inus-surprising-rally-dogecoin-can-stay\/\" target=\"_blank\" rel=\"noopener\">price rally<\/a>, the meme coin seems close to hounding its highs from earlier this year.<\/p>\n<p>Recently, crypto researcher and reviewer Max Maher tried to <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">analyze<\/a> Shiba Inu&#8217;s popularity but instead found himself drawing a very unexpected conclusion.<\/p>\n<h3>Assessing &#8216;pup-ularity&#8217;<\/h3>\n<p>After retracing the journey of the much loved and hated dog token, Maher&#8217;s takeaway was a simple one. He <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">said<\/a>,<\/p>\n<blockquote><p>&#8220;It&#8217;s a marvel to see a meme coin that is transitioning into utility.&#8221;<\/p><\/blockquote>\n<p>How did this happen? Founded in August 2020 by one &#8216;Ryoshi,&#8217; SHIB did not see much price action until earlier this year. For his part, Maher <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">suggested<\/a> that Shiba Inu&#8217;s mysterious co-founder might be Vitalik Buterin himself. As <a href=\"http:\/\/ambcrypto.com\/shiba-inus-popularity-continues-to-rise-latest-listing-on-indian-exchange-zebpay\/\" target=\"_blank\" rel=\"noopener\">previously reported<\/a>, Buterin reportedly received <a href=\"https:\/\/allhailtheshiba.medium.com\/all-hail-the-shiba-an-experiment-in-decentralization-87e3792e92f2\" target=\"_blank\" rel=\"noopener\">more than 50%<\/a> of SHIB&#8217;s supply.<\/p>\n<p>However, Maher <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">observed<\/a> how Shiba Inu was working to expand its ecosystem and provide new use cases. Taking one example, he spoke about the decentralized exchange Shibaswap with tokens that could be staked.<\/p>\n<p>He <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">said<\/a>,<\/p>\n<blockquote><p>&#8220;This in itself is way beyond any other meme coin that I am aware of.&#8221;<\/p><\/blockquote>\n<p>He also discussed the <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">Shibarium<\/a> blockchain, meant to be finished by the end of 2021. Next, Maher discussed Shiba Inu&#8217;s upcoming stablecoin <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">SHI<\/a>, with each coin pegged to one cent.<\/p>\n<p>Finally, he was enthusiastic about the <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">ShibaNet<\/a>: a proposed payment platform based on the SHI stablecoin, which would also enable smart contracts with automatic royalties.<\/p>\n<p>Maher <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">admitted<\/a> that he came away from his research with a <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">&#8220;newfound respect&#8221;<\/a> for Shiba Inu.<\/p>\n<h3>Is it paw-sible to reach one cent?<\/h3>\n<p>Referencing SHIB&#8217;s price and its\u00a0<a href=\"http:\/\/ambcrypto.com\/heres-how-a-shiba-inu-puppy-helped-these-alt-coins-catch-eyes\/\" target=\"_blank\" rel=\"noopener\">link<\/a> to Elon Musk&#8217;s tweets, Maher <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">confirmed<\/a>,<\/p>\n<blockquote><p>&#8220;The price is now coming close to testing all time high prices again.&#8221;<\/p><\/blockquote>\n<p>So could SHIB ever reach one cent? With a price of $0.00002617, Maher <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">said<\/a> this was\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">&#8220;as close to impossible as you can imagine.&#8221;<\/a>\u00a0He <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">explained<\/a> that the price would have to go up 381 times for SHIB to reach one cent, thus exceeding Bitcoin&#8217;s own market cap.<\/p>\n<p>However, Maher <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">admitted<\/a> he might consider reserving 0.5% of his crypto portfolio for <a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">&#8220;meme-type&#8221;<\/a> coins. He\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=HwAcLoe91zU\" target=\"_blank\" rel=\"noopener\">concluded<\/a>,<\/p>\n<blockquote><p>&#8220;So as you can see, there&#8217;s actually a lot more to Shiba than meets the eye. And frankly, I did not expect this. After diving in, I believe Shiba is probably everything that Dogecoin aims to be.&#8221;<\/p><\/blockquote>\n<h3>A ruff reaction<\/h3>\n<p>Not everyone is a dog [token] person, however, American hedge fund manager Michael Burry, of &#8220;The Big Short&#8221; fame, tweeted about both Dogecoin and Shiba Inu. <a href=\"http:\/\/ambcrypto.com\/despite-criticism-shiba-inu-may-have-a-point-to-make\/\" target=\"_blank\" rel=\"noopener\">Criticizing<\/a>\u00a0SHIB&#8217;s total supply of one quadrillion, Burry called the token <a href=\"http:\/\/ambcrypto.com\/despite-criticism-shiba-inu-may-have-a-point-to-make\/\" target=\"_blank\" rel=\"noopener\">&#8220;pointless.&#8221;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>October has been a good boy where the Shiba Inu [SHIB] token is concerned. With a meteoric price rally, the meme coin seems close to hounding its highs from earlier this year. Recently, crypto researcher and reviewer Max Maher tried to analyze Shiba Inu&#8217;s popularity but instead found himself drawing a very unexpected conclusion. Assessing<a href=\"https:\/\/ambcrypto.com\/can-newfound-respect-for-shiba-inu-help-it-cross-1\/\">Continue reading <span class=\"sr-only\">&#8220;Can &#8216;newfound respect&#8217; for Shiba Inu help it cross $1&#8221;<\/span><\/a><\/p>\n","protected":false},"author":48,"featured_media":192818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-192766","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Can &#039;newfound respect&#039; for Shiba Inu help it cross $1 - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Crypto researcher Max Maher tried to analyze the meme coin&#039;s popularity but instead found himself drawing a very unexpected conclusion.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/can-newfound-respect-for-shiba-inu-help-it-cross-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can &#039;newfound respect&#039; for Shiba Inu help it cross $1 - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"October has been a good boy where the Shiba Inu token is concerned. With a meteoric price rally, the meme coin seems close to hounding its highs from\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/can-newfound-respect-for-shiba-inu-help-it-cross-1\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-18T21:30:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-19T03:38:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/mathis-jrdl-8eUWlf86RNI-unsplash-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sahana Venugopal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SahanaV_Journo\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sahana Venugopal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/can-newfound-respect-for-shiba-inu-help-it-cross-1\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/can-newfound-respect-for-shiba-inu-help-it-cross-1\\\/\"},\"author\":{\"name\":\"Sahana Venugopal\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/686a457fa8a5ae2329dd5325a7d81567\"},\"headline\":\"Can &#8216;newfound respect&#8217; 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