Shiba Inu gained some attraction as we near Valentine's Day, and we'll shortly explain why. Shiba Inu was launched in 2020 by an anonymous developer nicknamed 'Ryoshi'.
In September 2020, 1 Shiba Inu was worth $0.0000000003. At its peak in October 2021, 1 Shiba Inu was worth $0.00008000 (approx.). In terms of Return on Investment (ROI), investors that purchased the cryptocurrency in September 2020 achieved +2,600% ROI.
Shiba Inu's popularity is greatly due to the outstanding rally it posted in the market. After peaking at $0.00008000 it was followed by profit realizations. Due to its low price, many see the coin as a 'fast investment'.
There were several contributing factors in 2021 to Shiba Inu's rally. What also fueled the rally in 2021 were speculations that Shiba Inu will be listed in Robinhood. A coin listing tends to have a positive impact as seen in similar tokens.
Elon Musk's tweet of Shiba Inu 'going to the moon' made headlines in the crypto markets.
However, when Elon Musk was asked in a tweet how much SHIB he is holding he replied: "None."
Musk's reply marked the collapse of Shiba Inu, the coin was unable to recover until very recently when some gains are taking place at the time of writing.
Shiba Inu Is 'Burning'
Bigger Entertainment (biggerenterainment.com), a crypto entertainment brand announced it will burn 163 million Shiba Inu tokens on 14 February 2022 (Valentine's Day).
When a large amount of cryptocurrencies are destroyed (in the above manner) it tends to strengthen the cryptocurrency. The CEO of Bigger Entertainment, Steven Cooper tweeted on Sunday: "If we sell 1,200 more tickets, this becomes the largest burn party we’ve had yet. If you haven’t pitched in yet, get your tickets today. All #shib will be burned live on YouTube on 14th February at 2pm CST. We can do this :).”
Additionally, Bigger Entertainment launched several games with the sole intention of burning Shiba Inu coins.
In addition to the 'mass burning festival', Unification announced that it is planning a layer 2 blockchain for Shiba Inu. At the time of writing, SHIB does not have its own blockchain. It is based on ETH blockchain (layer 1), and layer 2 will be built on the parent blockchain.
The public testing is due 'very soon' according to a blog post on Unification's official website.
Should You Buy Shiba Inu?
While the fundamentals are currently weak, the recent gains have attracted some attention. According to whalestats, Shiba Inu holdings have increased among the top 1000 ETH accounts.
If ShibArmy succeeds in rekindling interest in SHIB, we may see stronger gains in the market. The cryptocurrency is cheap and has over 1,000,000 account holders at the time of this writing.
One of the possible bullish drives is that Shiba Inu may be used for buying virtual land in a new metaverse platform. MANA (decenterland) and AXS (Axie Infinity) are worth a substantial amount of money.
If the developers succeed in building a new metaverse (dubbed 'Shiberse') and gain large interest from the market it may be a stepping stone towards firmer gains in the cryptocurrency. A lot of faith may be required at this stage to invest in Shiba Inu, but many market participants see Shiba Inu as a bargain due to its low market price.
Should You Sell Shiba Inu?
It is a meme coin that enjoyed a moderate rally due to Elon Musk. Without Elon Musk, it is challenging to determine whether Shiba Inu would have posted strong gains in 2021.
One of the risks is if the coin will succeed in extending its gains, which is a similar reaction to what took place in BRDUSD.
Large investors may use the rally to dump their holdings and may result in fast-paced retracement. BRD initially spiked higher, lured fresh investors in and then tanked lower. Similar techniques are also used in NFTs to inflate the price of the project.
The technical analysis for Shiba Inu is neutral at the time of writing. If the price manages to break above 0.00004000, the rally may continue. Aside from the recent 'burnout' gains, the technical stance for the medium-term may be neutral.
Shiba Inu gained some attraction as we near Valentine's Day, and we'll shortly explain why. Shiba Inu was launched in 2020 by an anonymous developer nicknamed 'Ryoshi'.
In September 2020, 1 Shiba Inu was worth $0.0000000003. At its peak in October 2021, 1 Shiba Inu was worth $0.00008000 (approx.). In terms of Return on Investment (ROI), investors that purchased the cryptocurrency in September 2020 achieved +2,600% ROI.
Shiba Inu's popularity is greatly due to the outstanding rally it posted in the market. After peaking at $0.00008000 it was followed by profit realizations. Due to its low price, many see the coin as a 'fast investment'.
There were several contributing factors in 2021 to Shiba Inu's rally. What also fueled the rally in 2021 were speculations that Shiba Inu will be listed in Robinhood. A coin listing tends to have a positive impact as seen in similar tokens.
Elon Musk's tweet of Shiba Inu 'going to the moon' made headlines in the crypto markets.
However, when Elon Musk was asked in a tweet how much SHIB he is holding he replied: "None."
Musk's reply marked the collapse of Shiba Inu, the coin was unable to recover until very recently when some gains are taking place at the time of writing.
Shiba Inu Is 'Burning'
Bigger Entertainment (biggerenterainment.com), a crypto entertainment brand announced it will burn 163 million Shiba Inu tokens on 14 February 2022 (Valentine's Day).
When a large amount of cryptocurrencies are destroyed (in the above manner) it tends to strengthen the cryptocurrency. The CEO of Bigger Entertainment, Steven Cooper tweeted on Sunday: "If we sell 1,200 more tickets, this becomes the largest burn party we’ve had yet. If you haven’t pitched in yet, get your tickets today. All #shib will be burned live on YouTube on 14th February at 2pm CST. We can do this :).”
Additionally, Bigger Entertainment launched several games with the sole intention of burning Shiba Inu coins.
In addition to the 'mass burning festival', Unification announced that it is planning a layer 2 blockchain for Shiba Inu. At the time of writing, SHIB does not have its own blockchain. It is based on ETH blockchain (layer 1), and layer 2 will be built on the parent blockchain.
The public testing is due 'very soon' according to a blog post on Unification's official website.
Should You Buy Shiba Inu?
While the fundamentals are currently weak, the recent gains have attracted some attention. According to whalestats, Shiba Inu holdings have increased among the top 1000 ETH accounts.
If ShibArmy succeeds in rekindling interest in SHIB, we may see stronger gains in the market. The cryptocurrency is cheap and has over 1,000,000 account holders at the time of this writing.
One of the possible bullish drives is that Shiba Inu may be used for buying virtual land in a new metaverse platform. MANA (decenterland) and AXS (Axie Infinity) are worth a substantial amount of money.
If the developers succeed in building a new metaverse (dubbed 'Shiberse') and gain large interest from the market it may be a stepping stone towards firmer gains in the cryptocurrency. A lot of faith may be required at this stage to invest in Shiba Inu, but many market participants see Shiba Inu as a bargain due to its low market price.
Should You Sell Shiba Inu?
It is a meme coin that enjoyed a moderate rally due to Elon Musk. Without Elon Musk, it is challenging to determine whether Shiba Inu would have posted strong gains in 2021.
One of the risks is if the coin will succeed in extending its gains, which is a similar reaction to what took place in BRDUSD.
Large investors may use the rally to dump their holdings and may result in fast-paced retracement. BRD initially spiked higher, lured fresh investors in and then tanked lower. Similar techniques are also used in NFTs to inflate the price of the project.
The technical analysis for Shiba Inu is neutral at the time of writing. If the price manages to break above 0.00004000, the rally may continue. Aside from the recent 'burnout' gains, the technical stance for the medium-term may be neutral.
CFTC Warns Youth: Don't Fall Prey to Crypto "Money Mule" Scams
Featured Videos
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa