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SHIBA INU: The cryptocurrency that is giving what to talk about
One of the cute cryptocurrencies is rising non-stop, find out why
Shiba Inu is one of the cryptocurrencies belonging to the wave that Dogecoin brought, as the first memecoin to hit the market. Its rise has generated expectations and excitement from investors who had already bet on it.
His delivery to the world of cryptocurrencies is not more than a year and a half, therefore, he was in the great minority that had a low cost, but also a great fame.
But this main characteristic is the one we must be more careful with, since, being below the price of $1 its value will always fluctuate. And speculation becomes increasingly difficult and risky.
Is investing in it a good decision?
In this article we will tell you all the curiosities of SHIB, and its sudden rise this month.
How did SHIBA INU see light in the stock market?
Its creation comes as a result of the incredible good fortune that DOGECOIN has had suddenly, offered by the rapid liquidity that this digital asset possesses.
Using the same breed of dog for his image makes many experts wonder that this cute cartoon of him Shiba Inu is the Dogekiller.
That is, it comes to dethrone said digital asset from its position number 10, in the market capitalization ranking of cryptocurrencies.
It's the strongest competition right now that DOGE has, and it seems like it comes with everything.
These two assets are part of the cryptocurrencies created to move the market, hence their growth in rise and fall totally insane.
SHIB added value
Its utility is similar to the DOGE, but it not only wants to be a copy, but to give more. That is why it has added values.
Like the beautiful activity you have with Amazon Smile, where they point out how difficult it is to raise a dog of this breed, and that the rescue of these animals is a very necessary activity to do.
For this reason, his campaign of awareness and donation to care for Shiba Inu from anywhere in the world.
If you want to participate in this organization, you just have to enter the Amazon Smile website and search for the organization of this dog breed, your collaboration just one click away.
Elon Musk and his adventures
Elon Musk and his tweets are a danger or a blessing for cryptocurrencies, we have previously seen what each of the comments of this millionaire personality generates in the digital currency market.
It has reached a point that everything you say whether supportive or not, people take it as they see fit, andd it produces a very relevant change.
In recent days — specifically on October 3, on his Twitter he shared an image of his pet, which coincidentally is a Shiba Inu breed dog.
In his description of the image there is no indication that he was supporting the cryptocurrency with such a name. He just wrote "Floki Frunkpuppy"
But just with that, it caused SHIB to rise 238% of its value in 4 days.
Whales of the world of cryptocurrencies
These so-called whales of the world of cryptocurrencies are very common today, it is a person or group of people who buy a significant amount of a specific cryptocurrency.
This generates a large rise in the price of the virtual currency, manipulating the market practically at will.
This has literally happened to every major coin today.
His big purchase lets him call him a whale when he owns 1,000 to 5,000 cryptocurrencies, all of a particular cryptocurrency.
Reason for the rise of Shiba Inu
Actually his first rise, was for the previous named tweet, belonging to the tycoon Elon Musk, which was 238%.
But there was a much bigger factor a few days ago. As big as the mammal we call a whale.
That is to say, there was such a large transaction of a total of 276 billion SHIB purchases, at the beginning of the month. On different days but very close.
Positioning it within the top 20 of the cryptocurrencies with the greatest movement in the market. Giving the result of raising its price 2000% in just one year.
This thanks to the addition of the currency in WhiteBite and Coinbase, which we celebrate because previously you could only invest in Shiba Inu through Uniswap and pages similar to this application.
The public supports this cryptocurrency, and someone behind as well. Some speculate that Elon Musk is behind these transactions, and that with these large movements he benefits economically to continue promoting SpaceX.
But we cannot assure that. Although comments of this type are the ones seen in tweets with the hashtag #Ship, which was a trend on Twitter these days.
SHIB Good or bad investment?
Its use as a manipulable and liquid currency to move the market does not determine that it can be a bad investment, specifically, you can also benefit from these liquid currencies.
The speculation of this cryptocurrency is one of the most difficult to take, if you are a cultured person in the economy you will know how to handle yourself within the world of this adorable cryptocurrency.
But for people who want to start with a virtual currency investment, starting with Shiba Inu is not highly recommended.
But if you still want to do it, start with small amounts of investment, and follow your instincts when you think it is at a high point, to get your profit before it drops in price or launches into free fall.
After all, you will never know that you lost money or if you did, until you remove it from the foundations of this platform.
