The crypto world is on the rise today and has left everyone in the space on their toes with the rally of Bitcoin’s price crossing $64,000 at press time. Among several tokens whose price soared, one among them is Shiba Inu (SHIB), or the new meme token of the town.
SHIB has always been a rollercoaster for its investors in terms of its price movement, standing true to its nature of being a meme coin. And this pre-BTC halving rally is no different. In this article, we will analyze Shiba Inu’s (SHIB) price growth, how the price changes over time, and its current developments.
For the past week, Shiba Inu was closely consolidated and trading between the range of 0.00000879 and $0.00000923. However, the bulls soon jumped in, and Shiba Inu saw a small rally of 6.5% positive price change. The price change of Shiba in the last 7 days is +22.01%.
The bulls have been quick to make a notable jump of 20% in Shiba Inu’s price over the past few days, but the trend seems to die soon. The over-popularity of the coin and not being seen as more than a mere meme is another factor for Shiab Inu not being able to achieve new price highs. In fact, the moving average convergence divergence (MACD) also shows a constant histogram decline in its price.
The new meme coin called the BEFE token is not far behind and can soon become the crypto meme coin of the year. The coin was launched with the purpose of a special focus on originality and community engagement and was priced at $$0.0003962. It aims to be one of the most recognizable meme coins, giving strong competition to Shiba Inu
The uniqueness of BEFE comes from the fact that it exists both on Ethereum as well on the BSC chain. This makes it accessible to an even wider user base. Another unique feature of this new meme coin is that it levies zero tax on its transactions, thus making it an attractive token to explore for users.
Would BEFE be able to dethrone Shiba Inu from its current community favorite meme coin? The signs show a higher possibility of this Shiba Inu getting pushed back by this new meme token of the town. But only time will tell what happens in the crypto market. Until then, you should always DYOR before making any crypto decisions. Learn more about BEFE here – https://befetoken.com
The content featured on Coinpedia's press release page is provided for informational purposes only. Coinpedia does not endorse, verify, or take responsibility for the accuracy, completeness, or reliability of any press releases or associated materials. Any views, opinions, or statements expressed in these press releases are those of the respective issuers and do not reflect the opinions or positions of Coinpedia. Coinpedia is not liable for any content, products, services, or actions mentioned in the press releases. Readers should independently verify the information before taking any actions related to the subject matter of the releases.
XRP fell below the $1 mark this week, touching as low as $0.99, as a…
Bitcoin has lost half its value since October, sliding from record highs to trade well…
HBAR price action is getting ugly again. The token is approaching $0.045 after breaking below…
Aptos has crossed a notable stablecoin milestone, but its native token is not exactly celebrating.…
Largest corporate Bitcoin treasury Strategy is facing a new threat from MSCI that came at…
Prominent banking giant Morgan Stanley has revealed new XRP ETF holdings in its latest SEC…
