Shiba Inu, a Dogecoin offshoot, launched ShibaSwap, a decentralized cryptocurrency exchange, on Tuesday, 6th July 2021. The Shiba Inu cryptocurrency, which was launched less than a year ago, has already established itself as a “Dogecoin killer.” Surprisingly, the Shiba Inu face-themed cryptocurrency with the symbol SHIB, which has witnessed substantial growth in recent months, began as a meme joke and has now evolved into one of the most widely discussed virtual money.
The fact that ShibaSwap launched just two weeks after billionaire Elon Musk tweeted about the digital currency is significant. “My Shiba Inu will be named Floki,” Tesla CEO Elon Musk, who has been actively pushing Dogecoin, posted on June 25.
Musk’s single tweet was enough to send Shiba Inu shares up 16 percent. Shiba Inu claims on its website that its network allows users to DIG (offer liquidity), BURY (stake), and SWAP tokens for WOOF Return thanks to its “sophisticated and innovative passive income reward system.”
ShibArmy has access to forthcoming NFTs thanks to the platform. The ShibaSwap, among other things, provides portfolio monitors, which make navigating the crypto market straightforward and transparent. It occurs when the cryptocurrency market has stalled, despite the fact that the SHIB price in Indian rupees has increased by 3% in the previous 24 hours.
People on Twitter expressed their enthusiasm shortly after the currency’s developers announced the introduction of their own crypto platform, indicating how anxiously they were all anticipating this moment.
The Shibaswap currency had a 3 percent price increase within hours of its introduction.