Shiba Watch Platform: What It Does and Price Predictions for SHIBAW

In just 3 days after being launched, the Shiba Watch token (SHIBAW) has grown in value by over 600%. Compared to other cryptos that struggle to gain any value, this one seems to have attracted a lot of interest. Naturally, we have been curious about this newcomer in crypto and looked into the project. 

What is Shiba Watch?

Although the name of the project seems related to the popular Shiba Inu coin (SHIB), there’s actually no relation whatsoever. Shiba Watch is a project that aims to provide a platform where new coins can be listed. 

From there, investors will have the opportunity to select which ones they want to invest in. The SHIBAW token will act as the platform’s native token – being used to purchase the desired coins listed. 

After a private sale which we have no details about, it became available to the public through a presale on 26 October. Most cryptos such as these are first marketed through social media channels such as IdoPresales on Telegram. During the event, 160 BNB was received from 143 investors involved but more has been invested since then. 

An audit was performed by InterFi Network prior to the private sale and a report was generated on 18 October. The Canada-based company found the SHIBAW token and smart contract to be up to par, which is why investors are confident enough to commit to the platform. 

Unfortunately, the project creators are not known. IdoPresales and other social media networks claim to have their IDs, but they are not revealing them to the public. 

How it operates

Shiba Watch runs on the Binance Smart Chain (BSC), a platform that allows different projects to run smart contracts. BSC has become very popular lately, even rivalling Ethereum as it recently surpassed 1.5 billion lifetime transactions in less than a year. 

Anyway, the smart contracts used by the Shiba Watch network will be used to perform all activities such as voting, payment and listing new coins. Because Shiba Watch will be used as a launchpad for different coins, smart contracts will ensure security and ownership of the listed coins.

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Running throughout the network to enable all activities will be the SHIBAW token. It is a BEP-20 token being based on BSC and will be used for all transactions. For instance, interested investors will pay for a stake in a project using the token as well as other associated fees.

Tokenomics

1 quadrillion $SHIBAW tokens were created for the Shiba Watch platform at the launch. While seemingly a lot, this will be the maximum number of coins that will be created… ever. 5% of those coins were sold during the private sale and 30% of the total supply was burned. 60% is currently in circulation and the remaining 5% is used by the company for marketing and future development. 

For every transaction made on the network, users are charged 13% in fees. For example, if you want to buy SHIBAW, 13% of your investment will be deducted. While a bit high, this is the nature of DeFi tokens and for good reason. Much of the collected fees are distributed to investors already holding SHIBAW, thus earning them interest. 

Some of the rest is used to continue development and marketing, but most importantly in increasing liquidity. This ensures that the network can continue handling transactions regardless of the amount. A portion is also used to buy back SHIBAW, artificially raising the value of the coin as it reduces circulating supply. 

Why is this important?

All the above features are put in place to make Shiba Watch a deflationary network. Lower supply through buybacks and burning ensures that the token continues to rise in value. Meanwhile, rewarding investors incentivizes hodling, maintaining liquidity and continuing to attract new investors. 

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At the same time, Shiba Watch will serve an important purpose – that of auditing new crypto projects. CoinMarketCap reports that there are over 13k cryptos active today, and it’s difficult to analyze each one. Shiba Watch wants to do this on your behalf, by performing an audit of the network and team to determine if it’s legit. Therefore, this platform will help investors choose the best projects to put their money into. 

What’s the future of Shiba Watch?

So far, Shiba Watch is still in the early stages of development. During this phase, the company has launched the $SHIBAW token and it has been listed on CoinGecko. It’s yet to be listed on CoinMarketCap and the Shiba Watch platform isn’t ready but the company is active on Twitter and Telegram.

The next step involves being listed on more exchanges and hosting other features on the network. Some of them include an NFT marketplace and P2E games. Later on, the company also plans to create a mobile app. These plans may change in future since decisions are made by the entire community. The SHIBAW token will be used to stake and vote on the decisions. 

How to purchase SHIBAW

For now, $SHIBAW is only listed on PancakeSwap. It is a decentralized exchange that allows users to swap different coins. In this case, you will need to first purchase cryptos such as BNB, BUSD, ETH or several others. Then, you will swap that coin to receive $SHIBAW into your wallet from the contract address.  Selling will involve the same process only backwards – switch SHIBAW for, say, BNB as you can see one of us do in the picture below. 

PancakeSwap is especially useful for trading SHIBAW because it allows you to set your desired level of slippage. For active traders, this is important because it allows you to determine the amount you’re willing to pay in fees. 

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Why you should invest in SHIBAW

With so many coins being released almost every other day, Shiba Watch actually promises to deliver something useful. By listing other coins and NFTs while performing the auditing, it might become a popular platform for investors. 

This will translate into increased demand for SHIBAW and consequently higher value for investors. At the same time, 7% interest just for holding the token is a handsome reward compared to other similar projects. 

Price predictions 2021-2022

We have already seen the price of $SHIBAW explode in the past 3 days thanks to the interest it has generated. The Poocoin price chart below shows just how fast the price has risen in that time.

We have been monitoring the progress through social media networks and it seems to be holding up. There are now 1,178 holders and a total of 252 BNB has been invested, pushing the market cap to over $830,000 at the time of publication. Trade volume also shows that interest in the token is still high especially now as investors wait for it to be listed on CoinMarketCap. 

The image above is a price chart of Shiba Inu (SHIB) on Poocoin. Over the past few months, the coin has rapidly gained value and become one of the top 10 coins by market cap. It shows that investors are interested in taking more risks while investing in crypto.

With Shiba Watch, it’s more than just a meme coin, meaning that it can have even more potential. That is why we expect to see continued growth in future and it’s likely we shall see another 600% jump in value over the coming week and toward the end of 2021. Thereafter, as the network continues to grow and implement additional features, there should be even more growth and performance. 

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