Investors Don’t Want to Miss Out On Shiba Inu, While Some Are Getting Rich By CoinQuora

Investors Don’t Want to Miss Out On Shiba Inu, While Some Are Getting Rich
  • Investors don’t want to miss out on .
  • Many people made a lot of money during the Shiba Inu rally.

Shiba Inu went on the bullish mode in the last couple of days when the hashtag #SHIB started trending on social media platforms, making its investors a lot of money.

Since Dogecoin’s craze began in early 2021, some crypto traders and investors don’t want to miss out on this memecoin. And, since DOGE, the king of memecoin, investors got the taste of that happiness. Thus, they are not as hesitant this time around about investing in such digital assets.

In February 2021, Elon Musk tweeted a lot about , causing the coin to surge at an incredible rate, making many people millionaires. In addition, Tesla’s CEO called the memecoin better than at times.

At that time, investors got into the coin as a “get in, get out” scenario. But, after that, Musk’s impact on crypto was reduced over time. However, the crypto community is saying that things are a little bit different with Shiba.

Note that prior to the rally, an unknown whale investor bought over 6 trillion SHIBA Inu coins worth around $43 million on September 30. In addition, he added another 276 billion tokens on October 2 a few days back before the rally started on the 4th.

For instance, the number of active Shiba Inu holders also increased. Also, a couple of days back, Shiba Inu followers on Twitter (NYSE:) reached 1 million.

Note that Shiba Inu was introduced to the community as an ‘experimentative token,’ but the crypto will be used in a Decentralized Exchange called ShibaSwap. This means that the token has more utility than its rival DOGE as of now.

Speaking of Shiba DEX, ShibaSwap surpassed $1B Total Value Locked (TVL) 24-hours just after its launch in July. Now, it has a TVL of $270 million.

Continue reading on CoinQuora

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button