Shiba Inu Price Jumps By 21%, Here’s Why
We have all heard the news that Shiba Inu price has increased on all platforms. As of April 2021, the price of one Shiba Inu token currently stands at $0.37, a 21% hike thanks to the meme coin rally taking off in the past two weeks.
Why is the price of Shiba Inu going up?
The main reason why the Shiba Inu has seen a sharp rise in price over the last few days is due to FOMO. As more and more people are investing in the meme coin, demand for it grows and so does its price.
Another factor which has led to the spike in the price of Shiba Inu is the news that the coin is listed on two new exchanges, Binance and Huobi. This means that the token is now much more accessible and therefore the demand increases, resulting in appreciation.
Moreover, celebrities such as Tesla CEO Elon Musk have been tweeting about the coin and creating buzz around it. This has caused a ripple effect and caused a surge in demand.
The Future of Shiba Inu
It is hard to tell which way the Shiba Inu price will go, but one thing is certain: the value of SHIB coins is likely to remain volatile. We have seen a 21% increase in the last few days, but this could easily slip in the coming days or weeks.
Nevertheless, with the increasing interest and adoption from investors, it is likely to remain popular and investors should always keep an eye out for any changes.
Things to Keep in Mind When Investing in Shiba Inu
If you are considering investing in the SHIB cryptocurrency, there are a few things you should keep in mind:
1. Always invest what you can afford to lose: Since the price of Shiba Inu is highly volatile, you should never invest money that you cannot afford to lose.
2. Monitor the token price daily: Keep an eye on the recent developments in the token price and news related to it. As the Shiba Inu markets are very volatile, the prices can fluctuate significantly in the span of a few hours.
3. Diversify your investments: Don’t put all your eggs in one basket, make sure to invest in different coins and tokens to reduce your risks.
4. Remain Patient: The crypto markets can be tricky and unpredictable – so never get too excited or too disheartened by any price changes. Remain patient and disciplined and you are likely to come out with a healthy profit.
In conclusion, it is no surprise that the price of Shiba Inu has surged in the past few weeks. As the demand and intrigue around the token continues to grow, investors should keep the aforementioned points in mind if they decide to invest.
Needless to say, investing in Shiba Inu is not without risks, so make sure to do your research before investing and always remain patient in order to make good profits.
Good luck and happy investing!
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