Founded less than a year ago, the Shiba Inu token had branded itself as a "Dogecoin killer". Interestingly, the Shiba Inu face-themed crypto token with the symbol SHIB, which has seen significant growth in the last few months, also started as a meme joke which transformed into one of the most talked-about digital currencies. ShibaSwap's launch comes roughly two weeks after billionaire Elon Musk tweeted about the digital token is noteworthy. On June 25, the Tesla CEO, who has been enthusiastically promoting Dogecoin, wrote: "My Shiba Inu will be named Floki." One tweet from Musk was enough to take Shiba Inu stocks to rise by 16 percent.
On its website, Shiba Inu said that its platform gives users the ability to DIG (provide liquidity), BURY (stake), and SWAP tokens to gain WOOF Returns through its "sophisticated and innovative passive income reward system". The platform gives ShibArmy access to upcoming NFTs. Among other additional tools, the ShibaSwap offers portfolio trackers, making navigation through the crypto world simple and intuitive.
Within hours of the launch of the Shibaswap, the currency witnessed a 3 percent surge in prices.