Analyst Says Traders Are Sleeping on Shiba Inu's Biggest Rival and Three Additional Altcoins

A popular crypto analyst believes traders are starstruck by the rise of Shiba Inu (SHIB) and sleeping on Dogecoin (DOGE). Pseudonymous analyst Smart Contracter tells his 220,200 Twitter followers that the ninth-largest crypto asset by market cap is now showing strength when paired against Bitcoin (BTC).

Timeline of Shiba-inu

Even though the crypto market opened the year on a bullish note, the start of February has not been a smooth ride. In the last seven days the crypto market led by Bitcoin has experienced a major pull back.

Shiba Inu Coin News: Among the latest updates by the Shiba Inu team is the launch of the layer-2 scaling solution, Shibarium. According to recent updates, crypto analysts believe it will solidify the $SHIB reputation in the crypto market.

Anticipation for the launch of Shibarium has officially reached its peak with CoinMarketCap noting 1.3 million wallets holding SHIB. The token has seen a gradual increase since the start of the month, with Shiba Inu ushering February with 1.2 million wallets.

Shiba Inu was trading at its lowest when compared to Dogecoin in November 2022, but now,  the situation has changed during the last three months. Shiba Inu is making a concerted effort to beat Dogecoin as the most-loved meme-coin.

The price of Shiba Inu (SHIB) surged by 22% in the last seven days, outperforming the majority of the crypto market. And the positive news doesn't stop before Shibarium is rumored to be scheduled to hit the market next week, February 14, Valentine's Day.

David Gokhshtein, crypto enthusiast and founder of Gokhshtein Media, which covers crypto news and events, has taken to his Twitter handle to share that he is seriously considering buying meme coins again.

Shiba Inu (SHIB), the popular meme cryptocurrency, recently hit a new milestone with its burning volume, reaching an increase of 10,000% in a short period. Today's burn rate spike was one of the biggest day-to-day increases in the last 30 days.

Crypto exchange Crypto.com sends 19,400,000 Shiba Inu (SHIB) tokens to the burn address, making the total SHIB burn to rise 10,109% in the last 24 hours. The number of transactions burning SHIB tokens have declined in the last few weeks as investors hold onto their SHIB tokens amid the anticipated launch of the Shibarium Layer-2 The post SHIB Burn Jumps 10,109% As Top Crypto Exchange Sends Millions To Burn Address appeared first on CoinGape.

A popular crypto strategist who correctly called the end of Bitcoin's (BTC) bull market in 2021 believes that top meme token Shiba Inu (SHIB) may be gearing up for bullish price action in the coming weeks. Pseudonymous analyst Pentoshi tells his 673,400 Twitter followers that SHIB looks strong after taking out its resistance at $0.000013.

Shiba Inu (SHIB) is one of the most talked-about cryptocurrencies in 2023, with its price rising 7% in just 24 hours. This has made many investors curious about the future of SHIB and whether it's a good investment.