can Shiba Inu restore its historic gain?

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The Shiba Inu has been crypto enthusiasts' favorite these past weeks, investors all want to get a taste from the sweetness. Shiba Inu is now among the biggest cryptocurrencies in the market with its market cap of $29.6 billion and a circulating supply of $549 T. Ranking 11th in the market, it was able to go head to head with Dogecoin but Dogecoin still remains ahead of the Shiba Inu.

The Shiba Inu circulation supply or value is the highest in the blockchain network and it has developments like Terra, Avalanche, and polygon. The coin is said to have been created by an anonymous person who is referred to as Ryoshi.

They are speculating rumors that the founder of Ethereum could also be a founder of Shiba Inu. Ryoshi is said to have supplied half of the Shiba Inu coin to the founder of Ethereum Vitalik Buterin.
In response to the gesture, Vitalik responded. “I don’t know what they were doing issuing those coins to me,” he said in an interview with Bloomberg
When the coin was released in August 2020, Ryoshi kept on referring to and using one word in particular “fren” when explaining how the process of Shiba came to life.

This is what he said” First thing is I had a fren that I met at Devcon last year in Osaka who has some influence in the space, we talk sometimes about Crypto philosophy and I told him the vision and he agreed to help. So he made a token contract and put half of it on Uniswap with 10ETH pair (he is a successful businessman so 10ETH is nothing for him) and threw away the liquidity keys so the ETH or the tokens can never be withdrawn. He then transferred the rest to me to do my part.”

Establishing its presence, Shiba has also developed the popular token NFTs, making it earn its way up in the crypto world.

But there’s reason to think that Shiba Inu is a bellwether of a larger, more durable trend. “Memes have value and have been an investible thesis in 2021,” Jonathan Cheesman, head of over-the-counter and institutional sales at crypto derivatives exchange FTX, said in an email. “Don’t short things millennials think are funny.” —Joanna Ossinger

Lately, the hype has been wearing off due to the signs of gains fading and these are making investors try other alternatives and assets, making the price of major Crypto skyrocketing to their ATHs.

Now the question is can Shiba Inu restore its historic gain?
_Inspiration

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