SHIB, which joined the meme-focused cryptocurrency storm but surpassed even Dogecoin (DOGE), which is seen as the first of them, has definitely broken popularity records lately. Although SHIB had a slight pause after its 300% rise, it has now rebounded and is up 12% in the last 24 hours.
Only 20% of SHIB Traders Lose
of SHIB With this last move, it is seen that even a large part of those who buy from the top are saved from loss.
Looking at the leading cryptocurrency exchanges at the moment, it is seen that the buy orders are starting to outnumber the sell orders. In addition, almost 80% of traders appear to be profitable considering time and purchase price.
In fact, this was possible again thanks to Elon Musk. Musk shared a drawing of a Shiba Inu holding a rocket on Twitter, increasing the price of it by 15% in minutes. After Elon Musk’s actions, especially for the DOGE price, his tweets did not affect DOGE anymore, allowing him to turn to other cryptocurrencies. SHIB and FLOKI are definitely two of them, and DOGE replica projects continue to proliferate.
Shiba is up 10% since this tweet pic.twitter.com/ZxsBqrpxEz
— Fintwit (@fintwit_news) October 17, 2021
SHIB is actually trying to produce more uses than DOGE, and the developers have also introduced their own decentralized cryptocurrency exchanges in addition to the NFT collection called Shibotoshi. All these developments create the purpose of use and recognition for SHIB. This is one of the reasons for the 80% overall earnings rate.