The humble dog-themed token Shiba Inu (SHIB) has a new leash on life as the second-largest meme coin in the global market. The token has seen a significant upturn, with its market value swelling over 5% in response to news that Binance, the world’s largest crypto exchange by trading volumes, will now admit SHIB as collateral on its platform. This fresh opportunity fuels speculation that affiliated tokens within the Shiba Inu ecosystem may soon earn a spot in Binance’s offerings.
However, this new lease of life for SHIB doesn’t come without its hurdles. With a breakout from a longstanding downtrend, SHIB now battles key resistance as it heads through uncharted territory, occupying the upper $0.000008s. It’s a significant breakthrough for SHIB, which had languished beneath its all-time highs for a significant chunk of 2021.
Despite the challenges, SHIB’s prospects are brighter than ever. Now beyond key resistance and its 100-day moving average (DMA), the token is set for a concise breakout to the upper $0.000009s with a potential rendezvous with its 200DMA. Any successful attempt to breach these milestones could confirm the arrival of a bullish SHIB market.
Yet, stakeholders need to be aware of the high-risk, high-reward nature of the crypto realm, with fresh tokens tempting investors with greater, short-term gains. An intriguing alternative to SHIB comes in the form of a new ruler in the ring—Shibie Coin, a head-turning mix of Shiba Inu and Barbie. Considering the recent success of the latest Barbie movie, Shibie possesses a potential edge over the competition. Boasting a unique appeal, with its captivating tagline as “the prancing, panting, and downright provocative queen of the crypto world,” Shibie could head to the top of its class.
While this newcomer may be worth considering, the Shiba Inu token’s impressive track record – an 11,430,362% increase in price since its 2020 launch, cannot be ignored. This unprecedented success highlights the rewards that come with the high-stake crypto arena, but equally showcases the volatility and high risk that investors must navigate.
If Shibie Coin follows in SHIB’s paw prints, a golden future could await those bold enough to invest. To keep abreast of swings in the crypto market and join the journey, following the Shibie Coin’s social media platforms for updates is a good place to start.
Remember, act wisely; the crypto world is a roller-coaster ride of risk versus reward, any investments could result in total capital loss.
Source: Cryptonews
