Shiba Inu Moves 2.05% over the Last Seven Days, Beating Bitcoin
Shiba Inu started the weekend with a spike, moving from $0.0000080 (SHIB/USD) up to a weekend high of $0.0000094. It has settled back down since then but has seen a seven-day change 2.05%.
Compare that to Bitcoin’s seven-day change of 0.64%, and it is easy to see which one is performing better. Bitcoin is currently at $44,772.96, but analysts are looking at movement more than prices to see which digital currencies are worth investing in.
Since early in the month, Shiba Inu has seen a lot of movement, going from very little activity to experiencing some serious spikes. That’s helped it achieve greater awareness from the mainstream recently, which in turn is helping it to experience even greater levels of activity. Any time a crypto starts to make some headlines, it starts to get picked up by new investors looking for the next hot thing, hoping it will be this month’s GameStop stock or Dogecoin and provide a massive return on investment.
The Future of Shiba Inu
Shiba Inu is currently trending on Twitter, ahead of most other cryptocurrencies. How long its mainstream shelf life will last is hard to say, as most lower tier crypto currencies flare up and flame out quickly when they enter the mainstream market.
Shiba Inu’s current resistance level is $0.00001, and it was the last above that level in May of this year. This crypto has managed some impressive rallies since then, but settled down through most of July, staying under the $0.000008 resistance level.
Comparing the last 30 days, Bitcoin has performed much better, increasing an incredible 51.37%. However, Shiba Inu has managed a 36.88% increase- no slouch in its 30-day performance. Bitcoin is looking like the better long-term investment, but Shiba Inu may be a good option for short-term investors looking to turn a quick profit.
As long as it continues to trend on social media and stay in the mainstream consciousness, Shiba Inu has the potential to grow exponentially.
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