Key Takeaways:
- Is Son of Shiba in fact the legitimate son of SHIB?
- The Son of SHIB coin hype resulted in a three digit uptrend within days.
YEREVAN (CoinChapter.com) – Dogecoin, the prototype of all things meme-coin, spawned an army of knockoffs. Some of the most hyped-up coins from the litter include Shiba Inu, the self-proclaimed ‘Dogecoin killer,’ which inspired a new pup on the block: Son of SHIB coin ($SON).
While Son of Shiba Coin calls itself the “million dollar project,” it propelled the price in the best traditions, passed on from father to son: the social media hype. However, the project itself has an alternative view on its latest surge, citing “excellent values.”
In reality, tweeting at the billionaire-entrepreneur Elon Musk appears to be a part of the mentioned values in the meme-culture. The Son of Shiba Coin lost no time in trying to get the CEO’s attention, claiming ‘family ties’ with the ‘Dogecoin killer.’
More on Son of SHIB coin
The Son of SHIB‘s website did not reveal much information about the project or its founders. Moreover, the co-founders’ identities were hidden under nicknames, with no links to real accounts. Thus, it is not clear whether the team has anything to do with the creators of the Shiba Inu coin.
We believe “Shiba Inu” to be the best of breed in the small to mid-cap cryptocurrency space and the natural evolution in the meteoric rise of the SHIBA TOKEN story. Well, he was bound to have a litter at some point, wasn’t he? The strength of ‘SON Of SHIB’ lies in its bloodlines, as we have integrated some of the key DNA from other major coins into our original cryptocurrency token.
reads the project’s whitepaper.
Also read: Shiba Inu price set for breakout as developers work on Shibarium layer 2 solution.
The website does contain a roadmap, according to which Son of Shiba Coin will shortly launch an NFT Marketplace. However, the platform revealed no details on the website or through Twitter.
Despite the lack of information, the Son of Shiba Inu coin announced over 30,000 holders.
Also read: Floki Inu coin price drops 13% after Elon Musk-led weekend soar.
After all the hype mentioned above, the Son of Shiba Inu coin rallied 364% and traded at $0.00000002298 in the European session on Dec 21.
Son of SHIB ($SON) Price chart
As seen on the chart below, SON’s price action rallied in bursts throughout the previous two days. As of publication, the rally halted. However, the future bias is not apparent. The setback could lead to another leg up or to reverse in bias. Either way, the meme-coin gained against leading cryptocurrencies; almost 60% against Bitcoin (BTC) in the previous 24 hours, and 61% against Ethereum (ETH).
Also read: Elon Musk reaffirms his support for Dogecoin, says it’s better than Bitcoin.
According to the token’s whitepaper, the total SON supply is one quadrillion. Additionally, the meme-coin set the burn rate at 3-5%, “burning of $100,000 every other day for the first week of launch.” Therefore, the Son of Shiba Inu coin presents itself as a deflationary token, expecting a price uptrend in the future due to the burn rate and the subsequent supply squeeze.
