The recent trend in crypto markets indicates a dynamic shift from established meme-based cryptocurrencies like Shiba Inu towards new entrants like SHIB 2.0. Despite Shiba Inu’s slump by 5.4%, its $4.3 billion market cap still places it at a lofty 19th spot, even as it yields some ground to decried alternatives. Traditional coins seem to be losing their charm to decentralized exchanges, much to the delight of profit-seeking speculators.
Breathing life into this scenario is SHIB 2.0, which has soared by an astronomical 1,635% within a day of its launch. The token, currently trading at $0.0002919, seems to be grabbing the baton from its predecessor and running with it. Meta 2.0 coins are the new kids on the block, if recent growth in PEPE 2.0 and DOGE 2.0 is anything to go by.
Despite a rather limited liquidity of just $51.6k and $2.16 million trading volume at this time, SHIB 2.0’s potential cannot be discounted. To put things in perspective, early buyers in Shiba Inu that started the year with a modest investment of $100 would be looking at a staggering $14.5 million today. Similar fortunes could await early investors in the SHIB 2.0 wave, if the current trends hold.
This potential windfall also brings along the associated risk of extreme volatility – SHIB 2.0’s liquidity is yet to be locked, with a mere 14.16 ETH pooled. Entrepreneurs and crypto enthusiasts need to approach this with the understanding that fortunes can swing either way in the blink of an eye.
That’s not to say that the waters are bereft of other promising fishes. Unorthodox meme coins like Wall Street Memes ($WSM) and Thug Life Token ($THUG) are making their presence felt. Backed by online communities boasting Twitter, Instagram, Telegram and Discord followers in the millions, these coins operate on the premise of hyper-engagement their defining USP.
As importantly, the rumor mills are abuzz about celebrity backing for these digital assets. Snoop Dog, of hip hop fame, is rumored to be behind $THUG, which – following a successful presale – could end up packing a serious punch. $WSM, for its part, has already raised $11 million, paving the way for prospective investors to rake in Shiba Inu-level returns.
In conclusion, the crypto landscape is undergoing a palpable shift. While the incumbent meme coins are grappling with stagnation, the 2.0 meta seems poised for take-off. However, the inherent volatility of the crypto domain necessitate a cautious and informed investment approach.
Source: Cryptonews
