In the world of cryptocurrencies, Dogecoin has been making headlines for quite some time now. This digital currency, which started off as a joke, has now become a serious contender in the world of crypto. However, there is another cryptocurrency that is rapidly gaining popularity – Shiba Inu.
Shiba Inu is a digital currency that is based on the popular Japanese Shiba Inu dog breed. This currency was launched in August 2020, and it has quickly gained popularity among investors. According to a top crypto trader, Shiba Inu has the potential to surge by over 50%, making it a lucrative investment opportunity for those who are willing to take a risk.
The rise of Shiba Inu can be attributed to several factors. For one, the popularity of the Dogecoin has helped to pave the way for other meme-based cryptocurrencies like Shiba Inu. Additionally, the growing interest in cryptocurrency as a whole has led to an increased demand for newer, lesser-known digital currencies like Shiba Inu.
It is worth noting that Shiba Inu is not merely a copycat of Dogecoin. While Dogecoin was created as a joke, Shiba Inu was created with serious intentions. The creators of Shiba Inu aimed to create a digital currency that would become a platform for decentralized exchanges and as a means of payment for goods and services.
Since its launch in August 2020, Shiba Inu has witnessed significant growth. In the April 2021 bottom, the currency was valued at just $0.0000000026 per coin. However, as of late May 2021, the value of Shiba Inu has increased by a staggering 27 times. Today, the currency is valued at $0.000007366 per coin.
The Top Crypto Trader who has been tracking the growth of Shiba Inu believes that the currency has the potential to surge even further. According to the trader, there are several reasons why Shiba Inu is a good investment opportunity.
Firstly, the low value of Shiba Inu coins means that it is easily accessible to investors who do not have a lot of capital. Compared to other digital currencies like Bitcoin and Ethereum, which are valued at thousands of dollars per coin, Shiba Inu is much more affordable. This low value also means that there is plenty of room for growth in the value of the coin.
Secondly, the Shiba Inu community is very active and engaged. This community is constantly working to promote the currency and to create new use cases for it. This level of engagement is a positive sign for investors, as it indicates that there is a growing demand for the currency.
Finally, the Top Crypto Trader believes that the rise of Shiba Inu is part of a larger trend in the cryptocurrency market. As cryptocurrencies continue to gain mainstream acceptance, there is likely to be a growing demand for digital currencies that offer newer and more innovative use cases. Shiba Inu is one such currency, and its value is likely to rise as more people become aware of it.
Of course, there are always risks associated with investing in cryptocurrencies. The highly volatile nature of the cryptocurrency market means that the value of digital currencies can rise and fall quickly and unpredictably. This means that investors need to be prepared to take on some level of risk when investing in cryptocurrencies.
However, for those who are willing to take a risk, Shiba Inu represents an exciting opportunity. This digital currency has already witnessed significant growth in a short amount of time, and there is plenty of potential for it to grow even further. With an active community, a dedicated development team, and a focus on innovation, Shiba Inu is one digital currency that is worth keeping an eye on.
In recent news, a popular crypto trader, Altcoin Sherpa, has expressed bullish sentiment on a relatively new memecoin called Pepe (PEPE), which is known to be a rival of Dogecoin (DOGE) and Shiba Inu (SHIB). The trader believes that Pepe is forming a bottom and could rally by double-digit percentage points from current levels. Using the key Fibonacci retracement levels, Sherpa predicts that Pepe could surge from around $0.00000150 to $0.00000235, a 57% rise.
Pepe has been up by over 2,600% since mid-April and is currently trading at $0.00000150 at the time of writing. Sherpa also notes that “many” altcoins have bottomed over the short run, and applying the charts of Ethereum (ETH) scaling solution Arbitrum (ARB), smart contract blockchain Sui Network (SUI), and non-fungible token (NFT) marketplace Blur (BLUR), he believes that many altcoins could rally by between 20% to 50% going forward. However, Sherpa warns that the rally could be short-lived.
Despite its relatively young age, Pepe has gained significant interest from the crypto community. The memecoin was created earlier this year as a spin-off of the popular character Pepe the Frog, which has become a popular meme on the internet over the years. Many early investors and traders have seen significant gains from Pepe’s performance, with the memecoin gaining a strong following on social media platforms such as Twitter and Reddit.
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