Move Over Bitcoin – Is Shiba Inu The Next Crypto Gold?

BlockchainMove Over Bitcoin - Is Shiba Inu The Next...


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



Learn more

Latest news

Cardano Discloses Encouraging On-Chain Stats for September, Here’s Detailed Insight

Gamza Khanzadaev Cardano reveals on-chain insights of September, stats are encouraging As the first month of fall comes to a...

After Cardano (ADA), DCG Subsidiary Luno Adds Support for Solana (SOL)

Alex Dovbnya Cryptocurrency exchange Luno has listed Solana (SOL) cryptocurrency shortly after adding Cardano (ADA) Cryptocurrency exchange Luno has added...

Zcash May Be Getting Spammed, but the Blockchain is Doing Just Fine, the Company Behind it Says

The Electronic Coin Company, the organization behind Zcash, claims that concerns of a spam attack are mostly just...

Kanye West unloads on Josh Kushner over investment in Kim Kardashian’s SKIMS

Kanye West unloaded on Josh Kushner over his investments in Kim Kardashian’s underwear line in a bizarre...

DOGE and SHIB Price Analysis for October 6

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It...

Must read

Cardano Discloses Encouraging On-Chain Stats for September, Here’s Detailed Insight

Gamza Khanzadaev Cardano reveals on-chain insights of September, stats...

After Cardano (ADA), DCG Subsidiary Luno Adds Support for Solana (SOL)

Alex Dovbnya Cryptocurrency exchange Luno has listed Solana (SOL)...

Zcash May Be Getting Spammed, but the Blockchain is Doing Just Fine, the Company Behind it Says

The Electronic Coin Company, the organization behind Zcash,...

You might also likeRELATED
Recommended to you