Business

Shiba Inu surges 50% in a DAY as dog-themed tokens lead the fight against crypto after Bitcoin bloodbath

SHIBA Inu skyrocketed 50% in just one day as dog-themed tokens were the top bulls today.

Follow CoinMarketCap.

The value of Bitcoin is also increasing

3

The value of Bitcoin is also increasingCredit: Getty
Shiba Inu soars 50%

3

Shiba Inu soars 50%Credit: Coin Market Cap

SHIB tokens rose to $0.0000342 from $0.000022 on Sunday while Dogecoin rose to $0.1661 from $0.145.

Follow Coin table.

After becoming one of the dominant meme coins in 2021, the value of Shiba Inu has been on a downward trend for the most part since late October.

On October 28, Shiba hit an all-time high of $0.00008845.

Some of this could be due to countries threatening or issuing bans on cryptocurrencies in general.

Moreover, another reason is inflation. In an effort to combat it, the Federal Reserve is currently planning to raise interest rates in March.

Meanwhile, Shiba’s price collapse didn’t stop with the listing on the CoinDCX crypto exchange in November.

Up until that point, Shiba was only available on the platform in a CoinDCX Pro-only trading mode.

Last year, Shiba Inu became the first crypto company in India to reach a valuation of over $1 billion, making it a coveted unicorn.

And now traders are wondering if its price will hit $0.10 this year.

Marie Tatibouet, chief marketing officer of crypto exchange Gate.io, told The Sun that it’s hard to predict what the “community” will do next but should see the Shiba rally cool down soon.

Meanwhile, experts assert Bitcoin will reach its peak about $93,717 by 2022.

However, the experts added that the cryptocurrency’s value will drop to $76,360 by the end of the year.

The year-end prediction is about 60% higher than the Bitcoin price at the beginning of 2022.

Dogecoin also rose to $0.1649

3

Dogecoin also rose to $0.1649Credit: Coin Market Cap

Risks of buying with cryptocurrencies

Investing and buying with cryptocurrencies like Bitcoin is very risky.

Their value is very volatile and City monitors Financial Control Authority warned investors to be prepared to lose all their money.

Investing in cryptocurrencies is not a guaranteed way to make money.

You should also think carefully about making purchases with cryptocurrency.

For example, Bitcoin has had intense price swings in recent months, and prices can change almost hourly.

Bitcoin price was at $40,258 on January 9, according to Coindesk, but fell to $34,214 just three days later.

That’s a 15% discount.

These price movements are risky for a business because you can sell an item with Bitcoin at one price and the value can drop soon after, leaving you with less money from a sale.

Similarly, the price of Bitcoin has increased by more than 21% since the beginning of this week, so it can be difficult for buyers to get an accurate idea of ​​the price of an item if its value changes on a daily basis.

https://www.thesun.co.uk/money/17576032/shiba-inu-rockets-tokens-lead-crypto-fightback/ Shiba Inu surges 50% in a DAY as dog-themed tokens lead the fight against crypto after Bitcoin bloodbath

JACLYN DIAZ

USTimeToday is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@ustimetoday.com. The content will be deleted within 24 hours.

Related Articles

Back to top button