Are you ready to pay tribute to a king? If so, then the King Shiba token may be the next token you want to be invested in being the alleged true King of all Shiba tokens. At the time of publication, King Shiba is one of the top trending coins on CoinMarketCap where it is ranked #1,317 with a market cap of over $6 million.
Although there may be plenty of Shiba tokens, this one claims to be the king and it’s important to take notice of such bold claims. It is also necessary to invest in tokens just as hype is high, so here we shall discuss what the King Shiba project is about and why you want (or not) to invest in it.
What King Shiba does
It is a deflationary token where King Shiba total supply decreases over time thus reducing supply. At the time of launch, 50% of the total 1 billion coins created were burned toward this very purpose.
At the moment, only about 437 million tokens are in circulation according to CoinGecko. As the supply decreases along with increasing demand, it artificially raises the value of the King Shiba token price. Therefore, anyone holding the token will earn a profit.
In addition, the platform also rewards holders with additional $KINGSHIB tokens. These are obtained from a 12% buy/sell tax imposed on all transactions. Thereafter, they are redistributed across the platform for different purposes.
One of those purposes is in reflections, where 2% of the taxed tokens are deposited into the wallets of holders. This means, as a holder, your holdings in $KINGSHIB continue to increase as long as investors are buying or selling the token.
How to buy King Shiba tokens
First, you will need to acquire BNB tokens from a trusted crypto exchange you trust such as Binance. The tokens will then be deposited into your wallet, either on the exchange or a 3rd party app like Trust Wallet. Now connect it to an exchange like King Shiba PancakeSwap directly or through an additional app like Metamask.
Find the King Shiba contract address from the King Shiba official website. Alternatively, search through a trusted platform like King Shiba BscScan for the correct address. Now you can convert your BNB tokens to $KINGSHIB at a slippage level of 13%.
Why you need to buy
Since the project kicked off in October, it has already surpassed multiple challenges. For one, the King Shiba market cap has increased to over $22 million on CoinGecko. And as you can see from the above King Shiba Poocoin price chart, the token’s value is trading well above the launch price.
Above, the token is paired to BNB but you can see the King Shiba to USD value on other listing platforms. Speaking of which, King SHiba has hit several milestones including being listed on centralized exchanges such as Gate.io, Lbank, Bitmart and HotBit. Further, it was immediately listed on EverOwn after launch, thus providing additional security to holders against rug pulls.
King Shiba price predictions 2022 – 2025
Since launch, the price of $KINGSHIB has grown by over 700% thanks to advances made by the project developers. Aside from being listed on major exchanges, a growing community of King Shiba Twitter, King Shiba Telegram and King Shiba Reddit ensures continued interest.
So far, only the staking platform has been launched, but there are plans to also include an NFT collection. It’s not clear when this will be but when it does happen, this coin will have renewed interest. That could send the price even higher and perhaps even drop another 0 (zero) sometime in 2022. This could be a 100% spike that will generate a bump in performance. Toward 2021, it’s possible that it could be worth $1 or more as long as demand continues to increase.