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Could Shiba Inu coin rise on July 20?

Shiba Inu coin may see a rise on July 20 because of a new investor party

Pictures of dog bowl, which mimics baby doge. Illustration by Alex Cochran, Deseret News

Shiba Inu coin has been gaining a lot of attention in recent weeks — and there may be another jump in July.

Shib coin rises over ShibaSwap

The Shiba Inu coin community has been paying attention to the ShibaSwap exchange, which is a new interface that allows token holders to invest the coin in more places, according to Coin Telegraph.

  • “While some networks have been accused of using spam transactions to increase on-chain activity, this is not the case with Shiba Inu as the total value locked on the platform surpassed $1 billion just one day after its launch,” Coin Telegraph reports.

The original release of the ShibaSwap exchange created a 14% spike in value for Shib coin. However, the coin eventually dropped to around $0.0000388, which is 78% below the coin’s all-time high, according to Coin Telegraph.

Why July 20 matters for Shiba Inu coin

July 20 could be a big day for the Shiba Inu coin. Shytoshi Kusama, a Shiba Inu coin cryptocurrency influencer, announced on Twitter that there will be a virtual Shiba Inu party on July 20. Investors are preparing to attend the party to talk about the ShibaSwap exchange and a new sculpture for Shiba Inu coin, according to InvestorPlace.com

As we’ve noted before, cryptocurrencies such as Shiba Inu coin and Dogecoin often rise in value when there’s a lot of social media hype. A constant conversation about the coins can encourage more people to invest, which will ultimately raise the price and value of the coins.