It’s no surprise that the crypto community has been captivated by Dogecoin (DOGE) and Shiba Inu (SHIB), as their recent price action led to several holders moving towards these assets. This is likely due in large part to how entertaining they are on social media.
Bitcoin’s (BTC) price increase was accompanied by a surge in the value of Shibes, leading Ethereum (ETH) to refresh its all-time highs over $4,400.
The ‘Dogecoin killer’ is a crypto token that has been hyping up from $0.000015 to almost $88 in just two days! The craze started with celebrities talking about it on Twitter, financial journalists from mainstream media endorsing its potential for success, and even Bloomberg journalists claiming they have insider information too- all of which has helped this new cryptocurrency gain momentum faster than expected.
SHIB-Mania
In a world where people are creating all sorts of new ways to remember the past, it’s only fitting that restaurants would start accepting this historic currency as payment. This week in Paris-based eatery “L’institut,” you could grab lunch using Shibas!
Also, the idea of paying for movie tickets with Shiba Inu coins may have just taken off. One of the world’s biggest cinema theaters is considering the possibility and one of largest theaters, by volume at least will likely be following suit soon enough.
The recent rally in the stock market has been amazing, with one company’s SHIB investment coming from just $8,000 to over 5 billion. The media was not expecting this! This is an incredible story about how short-term investments can make you rich even when it seems like everything else around us has gone downhill.
It’s not every day that the price of a cryptocurrency breaches past $0.30, but it happened just recently with Dogecoin! The massive take-profit maneuvers also saw another bull run seen in DOGE which managed to crack above its initial target after piercing through an up triangle pattern from earlier this summertime.
There are two possible explanations for how the meme coin mania could last. One is backed by announcements from key people or businesses accepting them as a means of payments, while another explanation relies upon an individuals’ belief that these coins have value because they’re endorsed by popular figures like Justin Bieber and Martin720m at which point you’ve got yourself quite some interesting investment options!
Can DOGE Hit $0.88?
Su Zhu, a former trader of Deutsche Bank hints that Dogecoin could be about to see some positive momentum. He said the altcoin could trade at around $0.88 after SHIB’s rally and there are rumors suggesting investors may want in on this potential Bullrun!
That said, the recent rise in Shib may cause waves of shorts as people try and cash in on its astonishingly bullish move over the past few days. A wave off SHIB’s massive profits might enter into dogecoin; currently sitting pretty with little volatility after having seen prices reach near-$0 then shoot back up again before settling once.
In fact, As of late, many individuals have been analyzing the cryptocurrency market to see what makes a good coin. One such individual is Elon Musk who recently designated Dogecoin as “the people’s crypto.” This caused quite an uproar in and out of social media.
With recent developments, it’s clear that DOGE is more than just a people’s crypto – It also functions as an investment opportunity. A quick google search will show you all about how institutions and whales are fueling the price action in this meme coin!
It’s really hard to say what the future holds for SHIB, but one thing is certain: it will be business crypto as well. What, we wait and see? Fair enough!
