Move Over Bitcoin – Is Shiba Inu The Next Crypto Gold?


Is Bitcoin ready to throw out the towel and let Shiba Inu take crypto gold status?

Improbable.

But anything can happen.

If you want more reliable and stable trading, look no further than the kings of cryptocurrency, bitcoin and ethereum.

These two leading cryptocurrencies have been constantly moving in an upward trend for the past two years.

However, Shiba Inu is getting more attention due to its recent significant increase in market capitalization by 0.12%. Was it just a lucky streak or is Shiba Inu poised to be next crypto gold?

Suggest reading | Bitcoin slips back to $40K as the Federal Reserve looks for faster rate hikes

Shiba Inu gains more stability

Why is Shiba Inu gaining such instant fame that it threatens the functionality of Bitcoin and Ethereum? Well, the Dogecoin killer Shiba Inu (SHIB) has outperformed the benchmarks of a high-performance asset.

The benchmark is around the numbers 2000% or a little higher. However, Shiba Inu managed to get past that in 2021.

In fact, neither Bitcoin nor Ethereum has been able to reach this kind of peak. This massive one-year profit from SHIB was enough for traders and crypto enthusiasts to compare Shiba Inu with Bitcoin and Ethereum.

SHIB total market cap at $13.50 billion on the weekend chart | Source: TradingView.com

Suggest reading | Shiba Inu launches Metaverse project; SHIB stock is up 14% in the last 7 days

Despite criticism and opponents, SHIB managed to exceed the expectations of many.

What makes SHIB more powerful than ever in 2021 is the fact that it has worked doubly hard to increase its visibility in its target market.

SHIB has amassed significant profits in the past two years. It was able to increase market liquidity and capitalization. The popular vote on SHIB’s fence also led to an increase in followers and investors. In fact, the SHIB community has grown very quickly to over a million.

SHIB – Most Searched Cryptocurrency in 2021

Shiba Inu is also the most searched cryptocurrency in the last year. It has clearly surpassed Bitcoin in terms of popularity and market capitalization.

The problem may be that there is too much information related to Bitcoin and Ethereum. SHIB clearly enjoys the spotlight and seems ready to bark even louder.

According to Google Trends, the demand for Bitcoin has waned quite a bit in the past two months.

Shiba Inu is down 4% giving more opportunity to buy before prices rise.

The symbol’s relative strength index (RSI) is now below 50. Buying SHIB now will help crypto enthusiasts gain an edge once prices bounce.

Featured image from NDTV Gadgets 360, chart from TradingView.com



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