Shiba Inu is the talk of the town. The same coin is now at the head of the same coin pack. The uptrend has influenced other meme coins to follow its suit. Shib army is hailing the coin for its exponential run. The coin would have seen gains of 83%, which allowed SHIB enthusiasts to hope for a race worthy of a doge.
Shiba is valuing at $0.00001333, with gains now down to ~60%. Consecutively, other meme coins have surged satisfactorily. Dogecoin posted gains of around 10.92%. While Bone Shiba Swap has seen a rise of 13.13% at press time.
The reason for Shib’s bullish trend?
The room saw a pump after Elon Musk shared a Photo of his companion dog, with the caption “Floki Frunkpuppy”. Shiba Inu’s NFT landing on OpenSea, acquisition by whales, have also brought impetus to its surge. Substantial sources suggest that currently SHIB holders have moved to 682,031.
However, sections of netizens believe the uptrend might not be a bubble. As it offers practical abilities like Shiba Swap. What sets him apart from Doge. Meanwhile, sections do opine with the other end of the spectrum.
How long will the rally last?
It should be mentioned that market uncertainty can drive prices in any way. Moreover, the sentimental values of investors play a vital role in SHIB or any meme coin for that matter. However, past bullish trends suggest that the trend lasted for a day or two. nd in the intervals of 12-15 days. Current statistics suggest a similar trend for SHIB.
Collectively, the rally has brought enthusiasm to the space. However, the coin will need to stick to its $ 0.0000100 mark, so as not to fall prey to bears. We can expect a similar uptrend post its consolidation period. Professionals believe this is a healthy trend compared to doge racing.
