ShibaSwap portal launched: Shiba Inu's dedicated decentralized cyrpto exchange

The official Twitter account of the Shiba ecosystem announced the launch of ShibaSwap on July 6, 2021. It is Shiba Inu's dedicated portal that can be used to Dig, Fetch, Bury, Swap, Bonefolio and Woof with Shiba Inu. Shiba Inu is a relatively new cryptocurrency that currently converts to $0.000008945 and a trading volume of over $656 million. As cryptocurrencies like Bitcoin and Eheruem seem to fall, Shiba Inu is gaining popularity among modern-day crypto investors. 

Shiba Swap Release Date 

After a lot of rumours, the ShibaSwap launch date turns out to be July 6, 2021. ShibaSwap is Shiba Inu's decentralized exchange which will allow users to trade among Shiba Inu and other cryptocurrency tokens. Before the launch, investors in India trade in Shiba Inu using an Indian exchange called WazirX. The ShibaSwap launch will make trading through Shiba Inu easy for investors, as it is a dedicated platform developer to facilitate Shiba Inu transactions. The official website of Shiba Token says that "Between its international recognition and its legitimate utility, SHIB is up thousands of times and is constantly expanding its reach. SHIB is the first to be listed and incentivized on ShibaSwap, our proprietary DEX."

ShibaSwap launch will benefit Shiba Inu against Dogecoin 

Shiba Inu currently has a market cap of about $3.5 billion and is marketing itself as a Dogecoin killer, which is yet another popular meme coin. Both the cryptocurrencies were started as a joke by their developers and now hold a significant market cap in the crypto industry. However, Shiba Inu has to climb a long graph in order to come close to Dogecoin, which has a massive market cap of $30.6 billion. Both the cryptocurrencies were at their peak in the first two weeks of May 2021.

Interestingly, ShibaSwap plays around with the terminology used on the portal as actions such as staking tokens are termed as 'Bury'. Leveraging the meme coin image that Shiba Inu has, the portal has been kept very simple and rather humorous. Other actions related to the Shiba Inu coin are named in terminology that resembles dogs and their tantrums. This might be done in order to mock the competition Dogecoin, which has become one of the most popular cryptocurrencies. 

IMAGE: REPRESENTATIVE