In recent news, Shiba Inu (SHIB) is experiencing a moderate downward trend, with its price falling to $0.00000840, marking a 1% loss in just the past day. The shift comes as the broader cryptocurrency landscape appears to hold steady. While SHIB has witnessed a 7.5% and 10% ascension over the past week and month respectively, it has only grown by 3.5% since the dawn of 2023, lagging behind other heavyweights like Bitcoin (BTC), which has seen an impressive surge of about 77% since the beginning of the year.
This perceived underperformance corresponds with the anticipation surrounding the delayed Shibarium layer-two network, launched in beta mode in April, still awaiting full release. This hold-up has been a cause for consternation amongst SHIB investors, hoping for a bright spark to invest further.
However, the somewhat languid journey of SHIB in recent times has paved way for new meme tokens, carving a niche for themselves and outperforming the market. Shibie, a unique amalgamation of Shiba Inu and Barbie, is one such contender, projected to be a promising player in the days to come.
Despite the dip, the past week has been relatively favourable for SHIB, with its technical indices reflecting this trend. The relative strength index, edging towards 60, signalises potential short-term gains for this digital currency. The 30-day moving average is also trending upward, showing resilience hovering above its 200-day average.
This positive trend may offset the melancholy that has marred SHIB’s journey this year. SHIB’s no substantial increase in value since January 1 is paricularly disappointing when compared to its record-breaking performance in 2021, with an striking gain of 153,000,000% from its all-time low, and over 1,000,000% rise in the weeks leading up to May.
This year, 2023, has seen an explosion of new meme tokens, providing investors with high returns, a dream SHIB now looks upon wistfully. The latest entrant being Shibie (SHIBIE), an ERC-20 token maximizing meme-appeal by blending Shiba Inu with popular culture icon, Barbie.
The presale of SHIBIE poised to release soon will see 40% of the meme token’s total supply of 2,107,202,300 tokens available for purchase at $0.000474. With such fundraising efforts, the SHIBIE team plans to build a solid community around the token. And following the completion of the presale, SHIBIE anticipates substantial growth upon its listing on decentralized exchanges. This new token perfectly captures the dynamism and vibrant facets of the cryptocurrency universe where even out-performed coins like SHIB have potential catalysts lying in wait. The world of meme tokens, therefore, continues to surprise and possibly provide high returns for the daring investor.
Source: Cryptonews
