First Digital USD (FDUSD) is a secure and transparent stablecoin, now available on Ethereum, BNB Chain, and Sui,

 in the cryptocurrency market. Over the years, the popularity of stablecoins has risen, with the two dominant ones being 

 (USDC). However, a new stablecoin, First Digital USD (FDUSD), entered the market last year and has been performing remarkably recently with growing market capitalization.

, FDUSD recently announced its issuance on the 

 network, making FDUSD the first native 1:1 stablecoin on Sui. This strategic alliance led to a remarkable increase in FDUSD's market cap, which stands at $3.85 billion as of May 6, 2024, making it the fourth largest stablecoin in market cap after USDT, USDC and Dai.

Let's take a look at FDUSD and examine its rise in popularity, despite its being relatively new in the crypto market.

First Digital USD (FDUSD) is a stablecoin launched by a Hong Kong-based trust company, First Digital Trust Limited, to provide an innovative and stable bridge to the global financial landscape. 

FDUSD is issued by First Digital Limited's subsidiary,FD121 Limited, under the brand name First Digital Labs.It’s backed by cash and cash-equivalent assets to the U.S. dollar at a ratio of 1:1, and its reserve assets are held in accounts by third-party Asian-regulated financial institutions.

Launched in May 2023, FDUSD has grown immensely, particularly following the cessation of 

, which had dominated the trading niche on the Binance crypto exchange. This is especially applicable to 

, ETH and USDT trading pairs, which account for over 90% of the trading volume on the Binance platform.

The CEO of First Digital, Vincent Chok, has shed some light on the critical role that FDUSD is looking to play in the global financial markets by providing better predictability and certainty, especially as traditional financial systems grow increasingly uncertain. The company behind FDUSD, First Digital Trust Limited, has vast experience in providing financial products that bridge the traditional financial world with the digital world in Asia and beyond.

Last year, FDUSD was only available on Ethereum and BNB Chains. However, on Apr 10, 2024, First Digital announced that FDUSD would also be available on Sui, a platform that has been rapidly expanding in the DeFi space.

One of the critical roles that FDUSD has played in the stablecoin market is that of providing diversification. As mentioned, the crypto stablecoin market is dominated by USDT and USDC, with USDT commanding over 65% of the total market share. The entry of FDUSD has provided a worthy alternative to the existing options.

Other than this crucial role, other use cases for FDUSD include:

FDUSD is relatively safe. First Digital isa trust company fully registered under the laws of Hong Kong. As a rule, the company is required to hold its FDUSD reserves in segregated accounts, which implies that reserves don't mix with accounts holding other First Digital financial products. 

Furthermore, these reserve assets are held in cash or highly liquid assets, ensuring you can quickly redeem your FDUSD for an equivalent amount of U.S. dollars at a 1:1 ratio.

The company's CEO has also emphasized that FDUSD is fully transparent and open to scrutiny, further building trust and legitimacy in the stablecoin. 

That said, the safety of FDUSD can't be fully guaranteed, since it runs on third-party blockchains and its accounts are held in custody by a third party. Hence, you need to carry out your due diligence when investing in FDUSD or any other 

You can buy FDUSD on Bybit through the platform’s 

. Simply sign up on Bybit, connect your wallet to the Bybit Web3 Swap portal, and then proceed to swap or bridge your tokens for FDUSD.

First Digital USD (FDUSD) vs. Other Stablecoins

As a new entrant into the stablecoin market, FDUSD has done remarkably well. How does it compare with other stablecoins in the market?

USDT is the earliest stablecoin to enter the market (in 2014), while FDUSD was launched in 2023. In terms of market cap, USDT remains the undisputed king, sitting at $110 billion as of May 6, 2024, as compared to FDUSD’s current market cap of $3.84 billion. This demonstrates that USDT still dominates the stablecoin market, but as mentioned, FDUSD may dilute this dominance and can provide investors with a viable alternative. In terms of blockchains, USDT is available on 14 chains, while FDUSD is currently only available on three.

As an alternative to USDT, crypto enthusiasts have been turning to Circle-based USDC for their stablecoin needs. FDUSD still has a ways to go in order to catch up to USDC, which, with a market cap of $33.48 billion, is the second biggest stablecoin. In addition, USDC is available on 16 different chains.

Despite being among the latest stablecoins to enter the market, FDUSD has managed to capture the attention of crypto investors and enthusiasts. Its growing market cap and increased trade volume point toward a project that could scale further and reduce the dominance of existing stablecoins, provide investors with an alternative way to hedge funds against crypto volatility and offer reduced transaction costs for cross-border remittances. However, stablecoins are still cryptocurrencies with associated risks, so it’s imperative for you to 

Intermediate

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First Digital USD (FDUSD): A Secure and Transparent Stablecoin

Catwifhat (CWIF) shares the spotlight with Dogwifhat (WIF) on Solana, boasting a unique deflationary feature and a growing holder base in the cat-themed meme coin frenzy.

Cat-themed meme coins have recently been all the rage on 

 (MEW) and Popcat (POPCAT) clearly shows that the crypto community is highly receptive to meme coins whose story revolves around cute felines. 

In December 2023, another meme coin project riding the current "catomania" wave emerged on Solana. Catwifhat (CWIF), however, is unlike the majority of other cat-themed meme coins: it has a unique deflationary property that might pique the interest of the most conservative among crypto investors, in addition to the hordes of meme coin enthusiasts. Four percent of each transaction involving the CWIF token is burned, gradually reducing its total supply while increasing its scarcity, and, hopefully, its value as well.

 (CWIF) is a Solana-based cat-themed meme coin. 

It's one of the several projects contributing to the current wave of popularity surrounding cat-themed cryptos on Solana and other blockchains. Featuring a unique deflationary property, Catwifhat 

 4% of each transaction, significantly reducing its overall supply and marking it as among the most aggressive deflationary characteristics in the industry.

The CWIF token was launched in December 2023, with an initial supply of 77.78 trillion. Less than five months on, the token's aggressive supply-reducing mechanism has driven its total supply to about 36.5 trillion (as of May 7, 2024), with more than half (53%) of the initial supply burned. Currently, nearly half a trillion CWIF tokens are being burned every month.

In addition to the main CWIF cryptocurrency, the Catwifhat developer team has also released the Pixel Catwifhat 

 collection, whose pixelated cats comprise 1,000 items and feature 13 different cat hats as one of its key features. Enjoying significant popularity among NFT enthusiasts, the collection has some of its most valuable items, featuring asking prices of up to $100,000. Currently, Cat #189 is the Pixel Catwifhat NFT with the highest asking price, at 1,035 SOL ($150,417) on the popular Solana marketplace 

The Catwifhat project was undoubtedly inspired by an earlier meme coin, Dogwifhat (

), which was launched in November 2023. Themed around a Shiba Inu dog wearing a hat, Dogwifhat quickly became a meme coin sensation. By early 2024, the WIF token rose to the third position in market cap rankings among meme coins, behind the well-recognized leading duo — Dogecoin (

). As of May 7, 2024, WIF has amassed a market cap of $3.4 billion.

Compared to WIF, CWIF's market cap of $18.66 million looks exceedingly modest. However, it’s seen an impressive growth spurt within just one day.

Additionally, CWIF's exhaustive supply (measured in tens of trillions), active airdrop campaigns and extensive reach among meme coin enthusiasts ensure that the token is ahead of WIF by a mile when it comes to the sheer number of holders. According to some estimates, the unique number of WIF users was around 69,000 in mid-April 2024. On the other hand, the CWIF project claims to have a holder base of over 1.2 million.

The popularity of the cat with a hat meme has led to the launch of several (to be precise, four at the moment) tokens all sharing the same name, catwifhat, but using different capitalization styles and tickers — CatWifHat (CATWIF), CatwifHat (CIF), and catwifhat (CATHAT).

At least two of these, CATWIF and CATHAT, are recent entrants to the market and are likely attempts to piggyback off CWIF's popularity. The CIF token, despite being launched around the same time as CWIF, is also hardly a competitor to the latter; it has been embroiled in at least 

 events, and is far less popular than CWIF among meme coin enthusiasts.

A cursory look at the four tokens' typical trading volumes also speaks volumes, no pun intended, about their relative popularity. As measured on May 7, 2024, the 24-hour trading volume for CWIF stood at around $4.79 million, while CATWIF, CIF and CATHAT registered volumes of under half a million, around $15,000 and under $150, respectively.

The CWIF token is still not widely available on major 

 (JUP) and FluxBeam (FLUXB) — offer CWIF swap pairs. Currently, you can buy CWIF with Solana's native SOL token on FluxBeam, while Jupiter offers two cryptos for buying CWIF — SOL and 

The popularity of cat-themed meme coins is skyrocketing, and the CWIF token is at the forefront of this surge. While the token still features a relatively modest market cap, at least in comparison to the likes of Dogwifhat, Dogecoin and Shiba Inu, it has already amassed a highly impressive 1.2 million user base. Many of these have been attracted by the image of a cute cat sporting an adorable hat. Also, it wouldn't be a stretch to say that the token's unique 

 mechanism has lured a good chunk of this user base.

As CWIF transactions heat up, that 4% burn rate ensures that the token's supply decreases quickly, and with the decrease in supply comes the value of scarcity. Those who hold onto CWIF for a longer while might find themselves in possession of a truly scarce and valuable asset in the future — that is, of course, if the crypto community's obsession with cats stays strong.

Beginner

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Catwifhat (CWIF): Sharing the Throne With Dogwifhat (WIF) on Solana

Exverse is a free-to-play gaming metaverse built on a blockchain system. It lets players enjoy first-person shooter games while earning valuable crypto tokens.

In the past few years, there’s been an explosion in 

 gameplay systems, and there are now thousands of 

 games in the gaming industry. A new gaming universe, 

 hopes to stand out from the crowd and attract users with its unusually simple system. Can 

 achieve its goal of creating a game that's both fun and easy to play? Keep reading to learn how the 

 universe works, and discover how to profit off of the 

 built on a blockchain system. This free-to-play game lets players enjoy first-person shooter games while earning valuable crypto tokens.

. Co-founder Nikita Uriupin worked primarily in NFTs, while CEO Ooi Fei Hoong had past experience working on other web3 startups. Uriupin and Hoong discovered their shared interest in the cutting-edge web3 gaming industry, and decided to launch a company where they could explore their own gaming ideas. The two were joined by experienced developer Nikita Kuznetsov, Unreal Engine expert Dmitry Bychkov and former Playsense Art Director Alex Dashkevich.

 is simplicity. Its founders noticed that many novel gameplay systems had great ideas, but were too confusing for new users to play. People would have to set up a lot of blockchain features such as 

 wallets before they could start playing, so they'd get bored and leave the system. 

 aims to destroy these barriers to gameplay. By creating a simple yet immersive gaming experience, the 

, whose software powers the game and generates characters and movements that look as realistic as possible. In addition to Unreal Engine, 

 employs technology from the Ethereum blockchain. This cryptocurrency system allows 

 to give players full ownership over in-game assets, such as tokens and NFTs.

 functions on a free-to-play model. Users don’t have to purchase a game copy or pay for a subscription before they start exploring the metaverse. Instead, the AI-powered free game generates its funds through transaction fees. This monetization method takes a certain percentage off of each sale to compensate the 

There are many reasons to get involved in the 

 universe, which offers players a variety of fun features.

 has three distinct planets where gaming takes place. The 

 features PvP play with Battle Royale fights. On the 

, players group up to take part in missions, raids and other seasonal events. The immersive gaming experience also includes a 

, where players can meet other players, participate in community events and join guilds. 

No matter which of the three distinct planets you're on, you can earn experience that you use to level up your playing character. This allows you to access exciting new weapons, skins and other types of player equipment.

Clans consist of a leader who stakes EXVG in order to run a clan. Members of the clan get to wear the clan banner, and work to improve their ranking. Being in a clan makes it easier to get rewards, and there are some clan-exclusive perks, such as special missions and matches.

 hopes to create a flourishing esports community by hosting tournaments. Skilled players can compete in these games for the chance to win impressive prizes. 

, with a $50,000 prize pool over the course of five days, and has plans to host more competitions in the future.

 has a dedicated anti-cheat system to prevent people from taking advantage of its play-to-earn mechanics. It uses the 

 service to protect the game from hacks, false positives and other cheats that make gameplay less fun for other players.

The in-game marketplace is a fun way for players to connect with each other and obtain valuable in-game items. It allows player-to-player sales for things like NFTs, and will also let players buy season passes and exclusive content directly from 

. The team has already successfully designed its game concept, launched its website, designed its game art and acquired several helpful funding partners. Currently, 

 is focused on launching its novel gameplay system with an early-access tournament. 

Next, it hopes to test its system further with a public testnet and begin generating funds with NFT sales. In the future, 

 plans to expand its novel gameplay systems further. By 2024, it hopes that the 

 universe encompasses social interactions, quest planets and a full launch of the public mainnet.

This essential gameplay mechanic allows both players and the 

 team to earn money. It consists of two separate tokens, each with its own specific use cases.

 is the in-game currency. It can’t be bought or sold through the in-game marketplace; you earn it directly as loot from enemies, and it's used to perform in-game actions, such as repairing your skin or upgrading your player profile.

 is the main ecosystem token that’s used in both the in-game marketplace and the rest of the crypto community. Players can earn it by competing in tournaments and selling in-game assets. They can then use EXVG to purchase a variety of equipment and perks, or sell it on the open market in exchange for other crypto tokens.

, EXVG is used for everything from purchasing items to voting in the 

EXVG tokens first hit the market near the end of April 2024. After initially retailing for approximately $0.11, the token’s price dropped to about $0.07, reaching its ATL on Apr 30, 2024. Despite this initial setback, EXVG has seen an increase in price to its ATH of $0.1505 on May 5, 2024, and its current price is $0.1114 as of May 8, 2024. 

There’s generally a lot of positive buzz about EXVG on social media, so some investors are expecting big things from 

 DigitalCoinPrice predicts that EXVG will reach $0.27 by the end of 2024, and continue to rise to $0.91 by 2030. CoinCu is 

, with a prediction of $5.56 by the end of 2024, surging to $20.40 by 2030.

 tokens? Bybit now offers the EXVG/USDT Spot trading pair. To get started, you’ll first need to 

, fund it with cryptocurrency and navigate to the 

 gameplay systems have a lot of features that web3 gamers are demanding right now. Options such as free-to-play modes, wallet-free gameplay and graphics built on Unreal Engine 5 may help this project take off. However, smart crypto investors should avoid getting swept away by online enthusiasm. 

Though this project may do well, it has some stiff competition, and still hasn't proven it can build a solid user base. Ultimately, EXVG might be a good choice for crypto investors interested in brand new web3 gaming industry tokens, but it's still important to 

 universe encompasses all the latest trends in the gaming industry. Its play-to-earn mechanics and FPS-style combat will appeal to many users, and the 

 universe is uniquely playable and easy to understand. It still has a long way to go before it's the top web3 game, but savvy investors may want to consider the 

exverse.png

Exverse (EXVG): A P2E Game With AAA Web3 and AI Integration

In our latest Learn 101 livestream session, we gathered an esteemed panel of crypto experts to share insights on the current meme coin wave. Learn more here.

 have surged in both variety and popularity, partly due to their community-driven nature and the broader public's growing familiarity with digital currencies. This lively segment of the cryptocurrency market is thriving, with several notable coins capturing the attention of investors and enthusiasts alike.

livestreams, providing you with comprehensive expertise and insights from leading figures in the crypto industry in case you miss the livestream.

, which took place on May 2, 2024, we gathered Web3 Evangelist Dirk Pennings along with Ivan Lee, Senior Product Comms Specialist at Bybit, to dissect the burgeoning meme coin market with Sabrina Chua, Crypto Evangelist and SEO Editor from Bybit, moderating the discussion.

 in 2013, introduced as a playful alternative to more traditional cryptocurrencies. This sector gained significant momentum due to high-profile endorsements and a strong sense of community among its participants. Dogecoin, for instance, has seen sustained interest and is often dubbed the “king of meme coins” for its substantial market cap and iconic status within the crypto community​​.

discussion, the panel explored the unique appeal of meme coins by highlighting these cryptocurrencies’ community-driven nature and the significant potential for returns when balanced against their inherent risks.

“I think it’s very popular because it’s community-driven,” said Pennings, noting the democratic aspect of meme coins. Without any venture capitalists, presale investors or other investors, the “whole community is equal” in collaboratively pushing the brand forward in the crypto space, helping participants feel that they’re “part of something.” This inclusivity fosters a strong sense of belonging and participation among investors.

Lee agreed, contributing his perspective that the allure of meme coins is related to their high risk/reward ratio. He gave an example: “For those people who missed out on Bitcoin when it was trading below $1,100 or 

 when it was $10, they’re not going to get 100x or 500x from just investing in Bitcoin or Ethereum, at least not in the short term. But for meme coins, especially if you catch them early, there is this potential.”

The panel also noted the evolution of meme coins from their predominant presence on the Ethereum blockchain to their burgeoning launches on the 

 blockchain during the 2024 bull run. This shift has been largely attributed to Solana's lower transaction fees, which enhance the accessibility and attractiveness of meme coins on its platform. 

Pennings further highlighted a significant shift in the pattern of meme coin launches during bull runs, observing that in past crypto bull runs, we’ve typically seen meme coins launching toward the end as a kind of climax. However, the 2024 bull run has been distinctively initiated by the launch of meme coins. This inversion in trend suggests a growing influence and earlier integration of meme coins into market dynamics, marking meme coins as potential catalysts for broader market movements rather than mere followers of existing trends.

The panel delved deeper into the proliferation of meme coins on the Solana blockchain as evidenced by their notable trading volume and volatility. Lee emphasized that numerous coins were attracting attention due to their market dynamics, also noting that many are “getting a lot of trading volume and volatility” recently. 

Pennings was candid about the fundamental nature of meme coins, suggesting that their creators should embrace and clearly communicate that these coins are primarily for entertainment: "They’re just a meme, trying to be funny," he stated, stressing the importance of maintaining these coins’ transparency and identity without necessarily seeking practical utility.

Lee added to this sentiment by advising against pretentiousness in the meme coin sector. He finds it intriguing that some meme coins are experimenting with mechanisms such as buybacks to influence their market value, signaling a shift in how developers might be trying to sustain interest and longevity in their projects.

The panel addressed the inherent risks tied to meme coins, such as high volatility and the threat of 

Each member of the panel then shared tips on how investors can better protect themselves from crypto scams. Pennings emphasized the importance of portfolio diversification, echoing the age-old wisdom of not putting all your eggs in one basket, and stressing the significance of securing profits. He explained that, while a meme coin’s price has the potential to go higher, it could also plummet to zero and wipe out your initial investment. 

Lee provided practical advice on managing risk, highlighting the speculative nature of meme coins and the critical importance of measured, cautious investment strategies when it comes to speculative investments: "Control your leverage, set a 

 and only invest what you can afford to lose.".

Closing the discussion, Sabrina Chua highlighted the necessity of thorough research before making any investment. "It’s important that you 

 before investing in any financial product," she urged, noting that you can rely on community feedback and clear project objectives to guide your decisions. 

As meme coins grow in number and complexity, it’s crucial to understand their trends, the technology behind them and community involvement. These elements not only define the current meme coin landscape, but will also shape its future trajectory.

As part of the livestream, Bybit is holding an 

 that offers you a chance to participate in our pop quiz and earn a share of a 1,000,000 

 prize pool. The event period is through May 9, 2024, 12PM UTC.

Stay tuned for more discussions on the dynamic world of cryptocurrencies — and don't miss our next session on May 16, 2024, 8AM UTC, where we delve into the 

For those who missed the live interaction, remember to engage with us during our livestreams for a chance to win prizes and have your questions answered by experts. Visit our 

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Learn Live ICYMI: Riding the Meme Coin Wave of 2024

Altcoins

Following hot on the trail of Dogecoin, Shiba Inu is the latest 'meme' coin to gain popularity. Read all about it here.

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 appeared, many new cryptocurrencies offered alternatives in terms of how they are used. The likes of 

 added new real-world functions and services. And there is also 

, a cryptocurrency influenced by internet memes that were created.

As the “joke” approach goes on, a Dogecoin-inspired cryptocurrency was born — Shiba Inu (SHIB) coin.

The SHIB coin is a meme-based cryptocurrency that uses the Japanese Shiba Inu dog breed for its logo. SHIB started gaining attention during the bullish market of spring 2021 but the real momentum gained after Elon Musk’s SNL appearance.

Let’s take a look at some of the features such as the coin’s background, goals, and functionalities so that you can get a better idea if SHIB is a good investment for you.

SHIB is often referred to as a joke-influenced cryptocurrency that plans to outpace and be bigger than Dogecoin. The token working on the Shiba Inu 

 is — as we know it now — called SHIB, and it is an 

Shiba Inu is a project launched in the Ethereum network. This is the reason the consensus mechanism of Shiba Inu is the same as the consensus mechanism of Ethereum: 

The PoW mechanism entails that the mining rewards are based on the computational power of the nodes. The PoS mechanism bases 

As noted above, SHIB tokens are ERC-20 tokens in the Ethereum network. Such tokens are fungible, meaning that they can be replicated because each one has an equivalent value.

The total supply of Shiba Inu is 1 quadrillion SHIB. This is an extraordinarily huge supply. Therefore, even though the supply of SHIB is limited, it is still large enough to have inflationary properties. As of October 2022, the 

 of Shiba Inu is around 549 trillion SHIB.

At launch, 50% of the total supply of SHIB was locked on 

, and the other 50% was sent to a crypto address belonging to Vitalik Buterin, an Ethereum co-founder. These coins sent to Buterin are considered “burned,” even though they are still available if Buterin decides he wants to utilize them.

 DEX will be used for trading various cryptocurrencies with SHIB tokens. ShibaSwap claims that it will be one of the safest and 

A look at the ShibaSwap Decentralized Exchange (DEX). Source:

, users can deposit tokens in the SHIB pool of ShibaSwap to 

. ShibaSwap is going to use terms such as DIG, BURY, FETCH, TREAT, and BONEFOLIO. By “digging” SHIB tokens, you provide liquidity to the SHIB pool and earn BONE tokens (soon to be released).

By “burying” SHIB tokens, you can stake tokens in the Shiba Inu blockchain and get rewarded with additional SHIB tokens. “Fetching” allows you to directly swap your SHIB tokens with other tokens. “Treat” is another token that is expected to release very soon. Last but not least, “Bonefolio” is the portfolio where you can access your stash. 

A Visual representation of how BURY and DIG options work on Shiba Inu. Source: Shiba Inu Woofpaper

 released along with ShibaSwap has a total of 230 million tokens. The BONE tokens can be used for voting as well as trading. Shiba Inu plans to focus these tokens on the field of decentralized finance (

 that operates as an ERC-20 token in the Shiba Inu blockchain. This token has a much lower supply compared to SHIB and BONE, with only 107,647 LEASH.

Because of this relatively low supply, the price of LEASH is much higher, with the highest of all time being close to $8,900 on May 11th, 2021. LEASH can be purchased on both 

Let’s begin with the origin of the name Shiba Inu. Shiba Inu is a Japanese dog breed. This breed inspired internet memes with the name “Doge” in the 21st century. The meme became so big that it inspired some computer programmers to start a cryptocurrency based on it, which they called 

Initially, Dogecoin did not have any noticeable success. As the years went by and its community increased, Dogecoin started to become a serious investment. This influenced other people to launch their own cryptocurrencies based on 

, or simply based on Dogecoin itself. In this way, Shiba Inu was created.

The founder of Shiba Inu is anonymous and goes by the pseudonym of Ryoshi. But unlike other Dogecoin-influenced coins, Shiba Inu actually has a specific goal: surpassing Dogecoin. Shiba Inu plans to achieve this by providing more and better services than Dogecoin. Such services might be the very ones ShibaSwap soon plans to implement.

or any other sort of development funding. This might be one of the reasons why some of its features, such as ShibaSwap, are going to be added over time and were not included in the initial launch of the project.

The 50% of the total supply that went to Vitalik Buterin was initially considered as burned tokens. This was not the case when Vitalik Buterin actually used 

 that battles COVID-19 struggles in India.

Buterin’s donation accounted for approximately $1 billion worth of SHIB tokens. While this might have had a slightly negative impact on the price of SHIB, it helped to expand the Shiba Inu community even more.

SHIB started its price journey in August 2020 with a price lower than $0.00000001. These very low prices persisted throughout 2020 and into the beginning of 2021.

The price followed the bullish trend of the market as it started increasing, reaching new highs of $0.000003 which shortly grew to $0.00003 in May 2021, marking a 3,300% price increase within a week. This was followed by its biggest increase of all time in October 2021 when the price reached $0.000088.

By January 2022, the price had gone back down to $0.00003. The price has slowly decreased since and is trading around mid-2021 levels at $0.00001.

As of October 10 of this year, the price of SHIB is around $0.000011. With a supply of around 549 trillion SHIB, the 

 is near $5.9 billion, while the fully diluted market capitalization is around $6.4 billion. This market cap places SHIB at number 14 in the crypto market cap ranks.

Currently, Shiba Inu has launched its native DEX — 

along with the new tokens that are present in the Shiba Inu blockchain, such as the BONE, LEASH, and TREAT tokens. It also has an 

with many social advantages such as joining their exclusive club, direct communication with team members, etc.

The launch of the ShibaSwap DEX, the aforementioned tokens, and its burn mechanism are likely to make Shiba Inu look like a much more serious project, as the field of DeFi seeks utilization. Additionally, Shiba Inu is working on its 

which the SHIB ecosystem will eventually migrate to once it has been completed.

Shiba Inu has developed another project named Shiba Inu Rescue. This project involves rescuing actual Shiba Inu dogs that are lost or in need of rescuing. Using AmazonSmile 

, people can help out by donating to this project.

The best part about the project is that it does not require any direct donations at all. Whenever you use AmazonSmile to order a product, you can type Shiba Inu Rescue along with the organization name, and a percentage of the money you spend on buying the product goes to Shiba Inu Rescue. 

Such a project establishes a positive and trustworthy environment within the Shiba Inu community. Projects like these are one of the reasons why some people no longer look at Shiba Inu as a joke cryptocurrency, but as something much more serious in the long run.

As mentioned, SHIB gets its name from its similarity to Dogecoin. However, it is not like every other doge-based 

. SHIB is actually one of the first cryptocurrencies planning to “kill” Dogecoin. Hence, some people refer to Shiba Inu as a Dogecoin Killer. 

When you think about what SHIB and Dogecoin bring to the crypto market, the former might have the upper hand as it offers more services for its users. Since Dogecoin has the support of 

like Elon Musk and is more popular than SHIB, it is difficult to forecast whether it can actually become bigger than Dogecoin. Ultimately, only time will tell.

Shiba Inu has promised additional upgrades in the network as well as the addition of new features. One of these features will be their very own L2 on Ethereum along with a 

called Doggy DAO to involve the community in deciding the future of SHIB.

exclusively on Shibarium. If it happens, users will finally be able to buy and sell 

with their SHIB tokens through the exchange. Moreover, Shiba Inu has launched the Shiba Artist Incubator, by which they plan to recruit ten artists to create works that may then be minted as official Shiba NFTs. 

In terms of the price of Shiba Inu, some experts believe that it may increase at a steady rate in the long run due to active upgrades while others think it is just a meme coin and will always remain as that. Also, keep in mind that Shiba Inu is heavily influenced by Ethereum since it is built within the Ethereum network. This will likely be the case for the upcoming L2 Shibarium as well, while Ethereum continues to upgrade its blockchain on 

To conclude, SHIB has slowly started to shift from a “joke” coin into a serious cryptocurrency. With ShibaSwap’s plans for updates and NFTs, the network is very likely to enter the watchlists of many investors. It still has a long way to go before becoming a serious competitor to Dogecoin, but it is definitely on the right track to do so.

So, with the newfound knowledge in crypto, why not sign up for Bybit?

A Beginner’s Guide: What Is Shiba Inu (SHIB) Coin?

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