Move Over Bitcoin – Is Shiba Inu The Next Crypto Gold?

Christian Encila

Last Updated: June 11, 2024 7:47 am

2 mins read

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Is Bitcoin ready to throw in the towel and allow Shiba Inu to snag its crypto gold status?

Not likely.

But, anything can happen.

If you want a more reliable and stable trade then go for the kings of cryptocurrency, Bitcoin, and Ethereum.

These two leading cryptocurrencies have been consistently moving on an upward trend for the past two years.

However, Shiba Inu is getting more attention for its recent remarkable increase in market value at 0.12%. Was it just a lucky streak or is Shiba Inu primed to be the next crypto gold?

Suggested Reading | Bitcoin Falls Back To $40,000 As Fed Mulls Faster Rate Bumps

Shiba Inu Gains More Traction

Why is Shiba Inu gaining that instant fame threatening the post of Bitcoin and Ethereum? Well, the Dogecoin killer Shiba Inu (SHIB) has performed way beyond the standards of a top-performing asset.

The standard is around the figures of 2,000% or a little higher. However, Shiba Inu was able to surpass that in 2021.

In fact, not even Bitcoin or Ethereum was able to reach that pinnacle of sorts. That humongous one-year gain by SHIB was enough for traders and crypto enthusiasts to compare Shiba Inu with Bitcoin and Ethereum.

SHIB total market cap at $13.50 billion on the weekend chart | Source: TradingView.com

Despite the criticisms and naysayers, SHIB was able to go beyond the expectations of many.

What makes SHIB more robust than ever in 2021 is the fact that it has worked doubly hard to increase its visibility to its target market.

SHIB has amassed great profits in the past two years. It was able to increase its market liquidity and capitalization. The popular vote on the SHIB fence has also increased its following and investors. In fact, the SHIB community has grown so rapidly to more than 1 million.

SHIB – The Most-Searched Crypto in 2021

Shiba Inu is also regarded as the most-searched crypto last year. It has clearly outperformed Bitcoin in terms of popularity and market value.

It might be an issue of having too much information regarding Bitcoin and Ethereum. Clearly, SHIB is enjoying the spotlight and looks ready to ‘bark’ louder.

According to Google Trends, the demand for Bitcoin has died down a bit in the past couple of months.

Shiba Inu has dropped to 4% which gives more opportunity for a buy-in before the prices go up.

The token’s relative strength index (RSI) is now below 50. Buying SHIB now will help crypto aficionados have that vantage point once the prices rebound.

Featured image from NDTV Gadgets 360, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.