Crypto

3 Questions To be Answered About (SHIB) And Altcoins Future

What questions are considered when trading with $SHIB?

Shiba Inu Coin or $SHIB is considered as the 11th biggest cryptocurrency by the market value, and it is also one of the quickest rises ever seen. In addition, the coin made its debut on August 1st 2020 with low market value of pennies and it took of by October 27th 2021 to gain 680% increase in value. It aspired to be an Ethereum based alternative to what is known of Dogecoin which is another cryptocurrency.

Here are the 3 major questions:

1- What role does excitement have in an altcoin’s performance?

$SHIB has a huge community and supporters who were the force behind the price jump of the cryptocurrency to reach the +0.000005 currently according to Yahoo Finance, similar to the meme stock of the wall street bets, as well as plenty of daily discussion on reddit and other social media platform about the token.

2- Do cheaper altcoins get more people interested in buying cryptocurrency?

Buying one full token of the more established coins like bitcoin or ethereum take quite a bit of money which lead to more people buying fractions, but part of the appeal with $SHIB is being able to buy large numbers of full tokens for a low price per unit.

3- Does $SHIB benefit from having anti-establishment?

The cryptocurrency is not gameStop, there are overlaps in the online dialog and excitement around its rise. Also there is a component of decentralization trying to break away from traditional method of trading. Also, the shiba coin has the dogecoin as a direct rival with a massive price war between the of them.

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