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SHIB’s price halfway to hitting its ATH: What’s ChatGPT’s prediction?

Press Releases Crypto News AMB-Crypto SHIB’s price halfway to hitting its ATH: What’s ChatGPT’s prediction?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Shiba Inu [SHIB] soared into the top 10 cryptos by market value after gaining more than 239.0% in the past week.

A raging bull cycle is coursing through the meme coin market, as several meme coins have performed well in the last few days.

Some have recently peaked and crossed their ATH, increasing their weekly trading volume by 3000%.

Other than the overall market rally, SHIB’s surge can be attributed to developments within its ecosystem.

Notably, Shiba Inu announced the debut of version 1.1 of its ambitious enterprise Shib Name Service (SNS) in an X post, which drew attention from the community.

SNS, which was introduced last year, is a naming service that enables users to generate human-readable addresses for their Shibarium wallet. This enabled users to distribute tokens to friends and contacts using unique Shib names rather than long and complicated wallet addresses.

SNS was labeled the first step towards developing “Shibdentity,” a framework that lets people own and govern their digital identities.

Now, let us dive deeper into the origins of the popular meme coin.

A Brief History of Shiba Inu

The tale began in 2020 when an enigmatic figure or a group, named Ryoshi, started SHIB as an ironical tribute to the eponymous Japanese dog breed, also Dogecoin’s [DOGE] mascot.

A parody of the crypto-frenzy, the project started from zero, with zero, in the spirit of creating something out of nothing. It was not founded by an existing community or preassembled team.

SHIB, an Ethereum [ETH]–based ERC-20 token, quickly soared in popularity due to its charismatic ShibArmy and strategic endorsements by online influencers.

Notably, Elon Musk’s foray into Dogecoin’s world also fueled SHIB’s meteoric rise.

The ShibArmy, a passionate community, spearheaded SHIB’s success, accumulating over 27,000,000% in price rise from Ja

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Author: AMBCrypto Team

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