TL; DR Breakdown
- Kishu Inu on a rally alongside Shiba Inu, capturing the attention of the Twitter community.
- The meme coin can rise if it receives attention from the crypto world and significant investors.
For crypto enthusiasts, the coin Shiba Inu has been on fire for a while now. But what about its counterpart Kishu Inu? It is among the less popular meme coins that are currently circulating the market. Kishu Inu has also seen an upsurge alongside Shiba Inu and a few other coins for the better part of the week.
However, what exactly is the reason behind this spike? In the last 24 hours, price charts show that Kishu Inu has been up by over 32%, bringing its value to $0.00000000823 at the time of writing. This progress is an excellent indicator of why investors should not sell the newer coins short.
However, it is undeniable that the coin has not yet garnered the following that Shiba Inu boasts. Furthermore, it is yet to get any support from notable names in the crypto industry, such as Elon Musk.
What is Kishu Inu?
Kishu Inu is decentralized crypto, pushing for community involvement and rewards to its holders. 2% of every transaction on the network goes to its holders, incentivizing the coin’s ownership. It burned its liquidity tokens, a common occurrence in the crypto-verse to increase a coin’s value.
The Kishu platform has a decentralized exchange with a swapping function for any ERC-20 coins. As per the platform’s objectives, the swap dubbed Kishu Swap will be crucial to expanding the Kishu platform. It also hopes to present more features for its users while building a stronger community.
The coin made its debut in the crypto market in April this year, developed by a team of two. Currently, Kishu Inu hopes to command the attention of the crypto world, a vital step in boosting its popularity. Moreover, it has a significant focus on growing its community, which is the central functionality of the coin and its platform.
The coin’s future
It is still unclear what the primary driver of Kishu Inu’s price is. However, the recent Elon Musk engagement in Shiba Inu and Floki could be the main reason why Kishu Inu and other coins followed suit.
Kishu has one quadrillion coins in circulation, which has become a rare thing to see in the crypto universe. The coin reached an all-time high of $0.00000002 in May, doubling in a short while after its launch. Analysts are confident that given the attention it needs, Kishu Inu could surpass $20. Furthermore, its unique nature dissipates the inflation worry imminent in the financial world as a whole.
Lastly, its incentives are an attractive option for crypto investors. The meme coin could be available to more investors given time and more listings on centralized and decentralized exchanges. Notably, the crypto world should be ready for great things from Kishu as time elapses.