Why do traders want to buy billions of Shiba Inu coins?

  • Experts believe that traders are investing money in Dogecoin and Shiba Inu because Meme coins are relatively cheap.
  • Shiba Inu is one of the largest holdings in the Ethereum whale wallet after large wallet investors scooped up billions of SHIB via the plunge.
  • The Shiba Inu issued locked rewards on Shibaswap, fueling the bullish sentiment in the ShibaArmy.

Shiba Inu Large wallets on the Ethereum blockchain remain the preferred cryptocurrency holdings among investors. Despite the recent crypto meltdown, traders continue to acquire SHIB coins.

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Shiba Inu Coin Buyers Chasing Penny Crypto Asset

Despite the recent crypto bloodbath, bitcoin, ethereum and altcoins It is relatively expensive for an investor to make a deposit in the top 20 cryptocurrencies by market capitalization. To put in the same amount of capital, investors can snag billions of Shiba Inu tokens from exchanges instead of holding double or triple digits in any other cryptocurrency.

expert bloomberg Arguably Shiba Inu’s decimals are “the best marketing thing you can ever do” for a cryptocurrency project. for one Ethereum-Based TokensEighteen decimals is far from ideal.

shiba-inu-themed meme coins And new cryptocurrencies with relatively small market capitalizations have entered bizarre territory. Buying a Shiba Inu coin costs a trader $0.00000822At the time of writing, while a Dogecoin receives less than a cent.

experts argue that Retailers usually prefer penny stocks And dream of big returns. A jump from less than a percentage point to $1 can mean that your starting capital multiplies. Interestingly, for around $50 a trader can get one million Shiba Inu coins, making it a one-money crypto token for the community.

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Halsey Minor, Executive Chairman of Public Mint, was quoted as:

You see that in a lot of these meme coins, like the doge and sheba, retail investors are putting money in them because they look cheap. There is a psychological element here, in many cases, where people think, oh, a whole bitcoin is $65,000, but a dogecoin is only 25 cents.

40,000 new traders now have Shiba Inu, join ShibaArmy

Shiba Army, community of Shiba Inu holdersis now stronger with the addition of 40,000 new merchants, inserts recent data Shiba Inu Holder Number 1,181,649Which is 40,000 more than the number at the end of April 2022.

As the Shiba Inu coins continue to burn, which means a decrease in circulating supplyThis has fueled a bullish sentiment among investors, and has been supplemented by the demand for the meme coin. New members of the ShibaArmy have recently discovered the Shiba Inu through the fall.

Shiba Swap Rewards Unlocked

shiba inu coin The official Twitter handle announced the release of locked rewards in the archived section of ShibaSwap. ShibArmy can claim rewards Hitting a single button after going to the “woof” page for archives.

burn portal rewards Still in process as per official announcement.

Analysts spot a bullish gap on the Shiba Inu price chart

Waldrin TahiriA crypto analyst, evaluated the Shiba Inu price trend and noted that SHIB has steadily decreased after killing All-time high of $0.00008616 about a year ago. meme coin is currently 90% off its all-time high and analysts have Bullish divergence identified in Shiba Inu price chart.

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Tahiri saw Quite a bullish divergence in the daily RSI. To confirm the bullish divergence, 37 to RSI. need to go above (represented by the white line on the chart), between the two variations.

If shiba inu price break Breaking out of its short-term descending resistance line, it may resume its climb towards $0.000017.

SHIB-USD Price Chart

SHIB-USD Price Chart

The price of Shiba Inu’s competitor Dogecoin is at the make-or-break point

FXStreet Analysts Evaluating Price Trend Dogecoin, Shiba Inu’s competitor And a major meme coin. analysts believe Dogecoin price is at make-or-break point and is currently doing business in a lucrative field. Watch this video for more details:

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