The Rise of Shiba Inu Altcoin: Will It Be a Hit or Miss?
2022.04.19 11:40
The Rise of Shiba Inu Altcoin: Will It Be a Hit or Miss?
- In less than a year Shiba Inu’s value increased by about 121,000,000%.
- Shiba Inu is now on the Robinhood (NASDAQ:HOOD), which can raise its demand.
- ETH Whale has bought $193 Billion in Shiba Inu Altcoins.
Shiba Inu is up 4.96% in the last 24 hours. According to the current CoinMarketCap ranking, Shiba Inu is the 15th largest cryptocurrency, with a live market cap of over $14 billion USD.
The rapid surge of the cryptocurrency Shiba Inu from obscurity in January 2021 to a peak of $0.00008841 on October 27, 2021, is what brought it to the attention of investors. In little less than a year, the value increased by almost 121,000,000 percent.
Cryptocurrency USA: can Shiba Inu be the highest rising altcoin this year? – AS USA https://t.co/zeZPrqIODn FOLLOW US #altcoins #crypto #cryptonews
— Crypto News Update (@Crypto_News100) April 19, 2022
However, some who expected its growth to continue were misled. Now, the meme coin is approaching a deadline, which might mean that it will never reach the same heights.
Shiba Inu coin’s value is $0.00002515 as of April 19, almost four times lower than its last peak. In order to reach $0.01, Shiba Inu’s token would need to climb in value by roughly 40,000%.
According to the accounting platform, The Motley Fool, Shiba Inu has nothing special to make it valuable, let alone be worth $0.01.They claim that the majority of cryptocurrencies lose their maximum value within the first two years after peaking.
Shiba Inu coins were recently listed on the Robinhood platform, which is likely to increase demand for the coin. While some analysts predict its demise, some are already praising the coin.
Furthermore, Shiba Inu has been accepted into the Bitcoin of America (BTM) platform, a prominent BTC ATM operator in the United States. As a result, Shiba Inu enthusiasts and investors alike may now trade Shiba Inu in over 1800 BTM across the United States.
Recently ETH Whale bought $193 Billion in Shiba Inu Altcoins, making Shiba Inu the largest token holding. And in the last 24 hours, whales have bought over $243 Billion in Shiba Inu coins.
ETH Whale Just Buys 193B Shiba Inu Making Shib Top Whale Holding, In Total Whales Bought 243B Shib in 24 Hours#shiba #SHIBARMY #SHIBARMYSTRONG #shibainu https://t.co/aI0rU9chMx
— Thecryptobasic (@thecryptobasic) April 19, 2022
Now it is up to the traders and investors to decide if Shiba Inu is worth it or not.
Continue reading on CoinQuora
