Move Over Bitcoin – Is Shiba Inu The Next Crypto Gold?
April 24 2022 - 1:43AM
NEWSBTC
Is Bitcoin ready to throw in the towel and allow Shiba Inu to snag
its crypto gold status? Not likely. But, anything can happen. If
you want a more reliable and stable trade then go for the kings of
cryptocurrency, Bitcoin, and Ethereum. These two leading
cryptocurrencies have been consistently moving on an upward trend
for the past two years. However, Shiba Inu is getting more
attention for its recent remarkable increase in market value at
0.12%. Was it just a lucky streak or is Shiba Inu primed to be the
next crypto gold? Suggested Reading | Bitcoin Falls Back To $40,000
As Fed Mulls Faster Rate Bumps Shiba Inu Gains More Traction Why is
Shiba Inu gaining that instant fame threatening the post of Bitcoin
and Ethereum? Well, the Dogecoin killer Shiba Inu (SHIB) has
performed way beyond the standards of a top-performing asset. The
standard is around the figures of 2,000% or a little higher.
However, Shiba Inu was able to surpass that in 2021. In fact, not
even Bitcoin or Ethereum was able to reach that pinnacle of sorts.
That humongous one-year gain by SHIB was enough for traders and
crypto enthusiasts to compare Shiba Inu with Bitcoin and
Ethereum. SHIB total market cap at $13.50 billion on the
weekend chart | Source: TradingView.com Suggested Reading | Shiba
Inu Kicks Off Metaverse Project; SHIB Rallies 14% In The Last 7
Days Despite the criticisms and naysayers, SHIB was able to go
beyond the expectations of many. What makes SHIB more robust than
ever in 2021 is the fact that it has worked doubly hard to increase
its visibility to its target market. SHIB has amassed great profits
in the past two years. It was able to increase its market liquidity
and capitalization. The popular vote on the SHIB fence has also
increased its following and investors. In fact, the SHIB community
has grown so rapidly to more than 1 million. SHIB – The
Most-Searched Crypto in 2021 Shiba Inu is also regarded as the
most-searched crypto last year. It has clearly outperformed Bitcoin
in terms of popularity and market value. It might be an issue of
having too much information regarding Bitcoin and Ethereum.
Clearly, SHIB is enjoying the spotlight and looks ready to ‘bark’
louder. According to Google Trends, the demand for Bitcoin has died
down a bit in the past couple of months. Shiba Inu has dropped to
4% which gives more opportunity for a buy-in before the prices go
up. The token’s relative strength index (RSI) is now below 50.
Buying SHIB now will help crypto aficionados have that vantage
point once the prices rebound. Featured image from NDTV Gadgets
360, chart from TradingView.com
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