Why Shiba coin is gaining attention again

Jul 7, 2021 0 comments

image: thewistle.com.

A cryptocurrency influencer has been sharing support for Shiba Inu coin recently, which has some believing the coin will rise significantly soon.

Will Shib coin rise? What an expert predicts:

Cryptocurrency influencer Coin Bureau recently posted a new YouTube video to his Coin Bureau account that Shib coin may rise again. He said in the video, “there might be more to this token than meets the eye.”

Coin Bureau said he has been keeping an eye on Shib coin for a few weeks now, especially after rumors that Coinbase will add Shib coin to its app, according to The Daily Hodl.

Shiba Inu is one of the cryptos in this category, and it’s one that I’ve only ever mentioned in a negative context. But when I heard that Coinbase will be listing SHIB, however, I began to consider the possibility that there might be more to Shiba Inu than meets the eye,” he said.

Why Shib coin may climb again

Per FX Leaders, Coin Bureau suggested that the coin’s success could hinge on Dogecoin’s drop in success. Dogecoin was one of the biggest cryptocurrencies in April and May — especially as Tesla CEO Elon Musk tweeted and chatted about it — before falling off, as I wrote for the Deseret News.

“Where Shiba Inu and Dogecoin differ are the connections they have to the crypto community. DOGE is really just a meme and nothing more. … As community-driven as Shiba Inu is, there definitely seem to be some seriously prolific people behind the project,” Coin Bureau said.

Be cautious with Shib Coin

As CryptoMode reminds us, there is no science to cryptocurrency. In fact, cryptocurrency is volatile — you will never know what’s going to happen.

“Even though this week’s momentum has been promising for SHIB, there is still a lot of market volatility,” CryptoMode reports. “While Bitcoin and Ethereum move up, other assets may do the same. However, when the markets turn bearish again, it is not unlikely that Shiba Inu will see its value drop by quite a margin. Therefore, it remains a speculative asset first and foremost, and caution is advised.”

Sourced from deseret.com.

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