Cryptocurrency News

Binance Lists the ‘ultimate Dogecoin killer’ Shiba Inu

Shiba Inu is the new token that has come out, and just like Dogecoin, it has been hyped much around the crypto market. Binance chain has just listed Shiba Inu as this token has gained more than 61000% in just over a month, which is kind of promising. They have listed this innovative token in the innovative zone and have added consecutively rigid contracts to the future platforms. 

Given the hype that is built around Shiba Inu, it seems that Dogecoin has found its competitor, and just like Dogecoin’s progress and adoption remained an influential struggle Shiba Inu is not that different. The only concerning thing is that it seems rather difficult for a new token to scale all the way up to 61000% in such a short time; this is concerning not only for Dogecoin but also a variety of other new tokens that are barely making it to the day’s end.   

Trading the Shiba Inu might not be the Best Option given the Current Price Volatility

Talking about the innovative zone of Binance, it is the zone where new and innovative coins get listed, and they are unveiled before the eager traders to have a go with them in the new and bustling market that they have established for themselves. But at the same time, these tokens have higher volatility and pose a bigger risk slightly as compared to the standard tokens such as Bitcoin, Ethereum, and others. Clearing things out, all of these listed tokens are not free as well in terms of the risk that they pose but not as consistent and vicious as these new ones do.

After the Binance listing, it is possible that Shiba Inu might not increase in terms of the price-performance, and this new token might pose higher than normal risk along with the fact that the price volatility would be extremely daunting as well. If you are willing to chip in a fair portion of your money into this new venture, then it is important to have your own data and do consistent research around this new token. Make sure that it is actually safe to trade in, given the current volatility that is proposed and overzealous investors are making their moves to amass this token while it is still a favorite of the crypto market.

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