24h official site high / 24h low Complex.com is a part of: Most meme currencies offer no utility whatsoever. Shiba inu, however, has a community-driven rescue campaign for Shiba Inu dogs and an ecosystem of products and services, including a decentralized exchange named ShibaSwap. The peer-to-peer trading platform lets users trade SHIB to and from other cryptocurrencies. Users can also provide liquidity and stake the ecosystem’s three tokens (deposit them into a smart contract) to earn interest. The Shiba metaverse project is undoubtedly one of the most notorious projects in recent months in the crypto ecosystem. Many observers will watch the metaverse evolve and the evolution of SHIB from memecoin to established cryptocurrency. The project has attracted investors in part because as bitcoin, ether, and other established cryptocurrencies become more expensive, cheaper coins present an opportunity to make outsized early returns (and losses). The logic driving these returns, however, is the psychology of an asset bubble, not fundamentals. “People put their money in bitcoin… because they hear other people making a lot of money and there is this fear of missing out, so they don’t want to be left behind,” said Itay Goldstein, a professor of finance and economics at the University of Pennsylvania’s Wharton Business School. Cheap meme coins capitalize on the same FOMO.