GamingShiba Keeps Spiking, But Is That Likely to Continue?
Cryptocurrency GamingShiba (GAMINGSHIBA) has proven to be an interesting token to watch, as it intermittently spikes, shooting up by 25-30%. Does that mean it is a good investment for those looking to strike it rich quickly?
Is it Safe to Invest in GamingShiba?
This cryptocurrency is ranked pretty low at the moment, listed below #3,000, so a lot of people have no idea what it’s doing. However, it continues to be one of the top trending cryptos, called out by investors as an upcoming underdog that’s going to shoot to the moon.
They may be looking at its erratic behavior as it trends down overall, but yet spikes up by leaps and bounds for short periods of time. This creates a great opportunity for investors to grab some quick profits, if they’re paying attention. For those who aren’t day traders, GamingShiba is a much riskier investment.
It’s pulling in about $1.5 million over the last 24 hours, with trade volume up about 22% for that time period. For today, the crypto’s price is up just 1.44%, and it’s down for the week- about 18%. That means it’s on a bearish trend overall, but that could be a good opportunity for investment.
Because gaming Shiva spikes up intermittently, if someone buys it low at the moment and then watches it closely during the day, they could take advantage of one of the short-lived, skyrocketing rates.
About once a day, GamingShiba bursts into the stratosphere and then flames out just as quickly. It looks like it’s already had its flameout for today, which has been significantly less impressive than the price spike from the last few days. We will be watching GamingShiba to see if it has run its course or if there is still some gas left in the tank.
What Is GamingShiba?
The developers behind this crypto are hoping to use it to create a bridge between virtual worlds, or metaverses, as well as NFT’s, video games, and streaming content. Because the crypto is relatively new, having just launched at the end of November, it remains to be seen what kind of impact it will have on these markets and in those circles.
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