Move Over Bitcoin – Is Shiba Inu The Next Crypto Gold?
Is Bitcoin ready to throw in the towel and allow Shiba Inu to take its crypto gold status?
But anything can happen.
If you want a more reliable and stable trading, go for the kings of cryptocurrency, Bitcoin and Ethereum.
These two leading cryptocurrencies have been consistently in an upward trend for the past two years.
However, Shiba Inu is getting more attention due to its recent notable 0.12% increase in market value. Was it just a stroke of luck or is Shiba Inu ready to be next? crypto gold†
Recommended literature | Bitcoin plunges to $40,000 as Fed considers faster rate hikes
Shiba Inu gets more traction
Why is Shiba Inu acquiring that instant fame that threatens Bitcoin and Ethereum’s post? Well, the Dogecoin killer Shiba Inu (SHIB) has outperformed the standards of a top performing asset.
The standard is around the figures of 2,000% or slightly higher. In 2021, however, Shiba Inu managed to surpass that.
In fact, even Bitcoin or Ethereum was unable to reach that kind of top. That gargantuan year-long gain by SHIB was enough for traders and crypto enthusiasts to compare Shiba Inu to Bitcoin and Ethereum.
SHIB total market cap at $13.50 billion on the weekend chart | Source: TradingView.com
Recommended literature | Shiba Inu starts Metaverse Project; SHIB rally 14% in the last 7 days
Despite the criticism and naysayers, SHIB was able to exceed 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 made huge profits over 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 fast to over 1 million.
SHIB – The Most Wanted Cryptocurrency in 2021
Shiba Inu is also considered the most wanted cryptocurrency last year. It has clearly outperformed Bitcoin in terms of popularity and market value.
It could be a matter of too much information about Bitcoin and Ethereum. It’s clear that SHIB enjoys the spotlight and seems ready to ‘bark’ louder.
According to Google Trends, Bitcoin demand has declined somewhat in recent months.
Shiba Inu is down to 4%, giving more chance of a buy-in before prices go up.
The token’s relative strength index (RSI) is now below 50. By buying SHIB now, crypto enthusiasts can have that vantage point once prices rise again.
Featured image of NDTV Gadgets 360, graph from TradingView.com