Shiba Inu Sets Alarm Amid Soaring Bitcoin Market, Here's the Review

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Bittime - Shiba Inu (SHIB), a memecoin inspired by Dogecoin, is showing signs of increasing among other coins in the cryptocurrency, even asnBitcoin (BTC) prepares to hit a new record high.

According to data from Coindesk, the Crypto Fear & Greed Index shows a value of 72, which is categorized as Extreme greed . This suggests that SHIB investors are too optimistic and may be taking excessive risks.

On the other hand, Bitcoin shows a more neutral market sentiment with a score of 60 on the Fear & Greed Index. This indicates that BTC investors are more careful and not hasty in making decisions.

Although SHIB has experienced a significant price surge in recent times, this rise has been accompanied by high volatility. This shows that SHIB investors should be careful and consider the risks before investing.

Meanwhile, Bitcoin continues to show positive movement and is approaching its record high of $64,800. If BTC manages to break through this level, it could trigger a bullish rally across the cryptocurrency market.

However, experts remind investors to remain careful and not be lulled by market euphoria. Always do research and fundamental analysis before investing in any cryptocurrency.

Also read: What is Dogechain (DC)? Adorable Cryptocurrency

Phenomenal Price Increase

SHIB experienced a phenomenal price increase in 2021. In October 2021, its value soared by 1,000,000% in a short period of time, making SHIB one of the best-performing cryptocurrencies of the year. This increase was triggered by several factors, including:

• Support from Elon Musk, CEO of Tesla, who tweeted about SHIB on his Twitter account.
• Listing SHIB on well-known cryptocurrency exchanges such as Binance and Coinbase.
• Media hype and online communities promoting SHIB.

Concerns and Risks

Although SHIB has shown great performance, there are some concerns and risks to consider before investing in this cryptocurrency:

• High Volatility: SHIB has very high volatility, which means its value can rise and fall drastically in a short period of time. This can make investors lose money in a short time.
• Weak Fundamentals: Compared to other cryptocurrencies, SHIB has weak fundamentals. SHIB has no clear use case and its value is largely driven by speculation.
• Market Manipulation: SHIB has a relatively small market capitalization, making it easier for market manipulators to manipulate.

Also Read How to Buy Crypto:

The Future of Shiba Inu

The future of SHIB remains uncertain. This cryptocurrency has the potential to continue to grow and reach higher values, but it could also experience a drastic decline if the hype and speculation begins to die down.

Factors Driving Shiba Inu Greed

• A significant surge in SHIB prices in recent months.
• Media hype and online communities promoting SHIB.
• Investors hope for huge profits in a short time.

Risks of Investing in Shiba Inu

• High volatility.
• Weak fundamentals compared to other cryptocurrencies.
• Possible market manipulation.

Factors Driving Bitcoin

• Increasing institutional adoption.
• Global inflation drives demand for safe-haven assets.
• Perception of Bitcoin as digital gold.

Risks of Investing in Bitcoin

• Unclear regulations.
• Vulnerable cyber security.
• High volatility.

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Conclusion

Shiba Inu is a cryptocurrency filled with controversy. On the one hand, this memecoin has shown extraordinary performance and has the potential to provide large profits for its investors. On the other hand, SHIB has weak fundamentals and high volatility, making it a high-risk investment.

Before investing in SHIB, investors need to consider their risk tolerance and conduct careful research. Investors must also be careful of market manipulation and not be lulled by hype and speculation.

The future of SHIB is still uncertain, but this cryptocurrency has made a significant impact on the cryptocurrency world. Shiba Inu has shown that memecoin can be a valuable digital asset and has attracted the attention of many investors around the world.

How to Buy Shiba Inu (SHIB) on Bittime

You can buy and sell Shiba Inu (SHIB) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Shiba Inu (SHIB) is available on Bittime with the market pair SHIB IDR . To be able to buy SHIB IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  the complete guide on how to buy Shiba Inu Coin (SHIB) on Bittime . 

Monitor the price chart movements of Shiba Inu Coin (SHIB), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.