Memecoins take the spotlight in the crypto world, with Shiba Inu and Dogecoin experiencing good times despite Musk’s tweets.
Summary
Analysis of the crypto assets Shiba Inu (SHIB) and Dogecoin (DOGE)
On the one hand Shibarium, while on the other Musk’s tweets, are giving rising directionality to Shiba Inu Coin and Dogecoin, the “dog” crypto.
Shiba Inu (SHIB)
Shibarium, a layer 2 derived from Shiba Inu Coin is expected to be launched this month, with investors quivering in the last week for its launch.
Both SHIB and BONE, the two tokens affected by the launch of the news so important to Shiba Inu, could benefit strongly.
Analysts agree that there could be a surge in value following the launch, and this is also supported by the interest created.
1.2 million people have at least a minimum number of SHIB in their wallets, and this represents a record.
Never have so many investors decided to diversify so much as to have Shiba Inu in their portfolio.
Shibarium is simply a Layer 2 that is already quite well-known in its peculiarities and that according to the most careful analysts will benefit SHIB.
Indeed, according to the most knowledgeable among industry insiders, the launch of Shibarium will contribute to a major growth of the memecoin.
The imminent growth in value is proven, though not only, by the movements of the so-called whales.
Whales are buying large quantities of Shiba Inu in anticipation of precisely the launch of the Coin’s new upgrade.
Usually large purchases by large investors of a given crypto in the vicinity of an upgrade always precede big results.
Today SHIB’s price continues to rise 3.82% with a volume of €287 billion.
Shiba Inu’s market capitalization puts it in the top 20 highest market cap currencies.
While waiting for Shibarium, the bettors are hoarding SHIB, which is worth €0.00001269 today.
Dogecoin (DOGE)
Elon Musk‘s tweets and various speeches over several years have heavily influenced the two most popular dog-themed cryptocurrencies, DOGE (Dogecoin) and SHIB (Shiba Inu Coin).
Lately Dogecoin has decided to change top management, resulting in yet another stunt by the histrionic entrepreneur.
Musk posted an image of a dog’s snout alluding to the fact that the new CEO will indeed be a little dog.
The reactions of course were not long in coming, the memecoin immediately spiked 5.28% in the immediate as was easy to expect.
Immediately after the Tweet, Dogecoin co-founder Billy Markus also expressed the idea that a change at the top would not be bad using self-irony.
As of today, DOGE’s value appreciates by 1.31% while far more decisive was the run in the last week that made it gain 7.13%.
Today, Dogecoin is worth €0.0822, but the digital currency may soon fly again.
Even though the all-time high of €0.69 is a very unlikely target, the currency is preparing for a surge in value.
Doubts remain and relate to the function Dogecoin might have in this major reorganization of the Twitter social network.
The crypto proclaimed by Musk as Twitter’s official currency could experience a major price change if its function is confirmed.
Otherwise, if DOGE loses its role, it could plunge back into the abyss.
Musk’s long standing spending review effort on the social network could affect DOGE as well.
If it does not, it may appreciate considerably once his stability at the helm as a bargaining chip is established.
