May.13.2021 47

A New Chinese Cryptocurrency, That Was Called Dogecoin Killer, Is Gaining Popularity

shiba inu

Recently, another dog-themed cryptocurrency has appeared. And it hopes to take the place of Dogecoin. It is called the Shiba Inu Token.

A new cryptocurrency arrived in China and has recently become popular due to viral memes appearing on the Internet. Meanwhile, Dogecoin is up 12,000 percent since January. Most of this happened after Tesla and SpaceX CEO Elon Musk called himself the father of the doge. SHIB, in turn, became popular in China after massive advertisements made by influential businessmen on various social media platforms throughout the whole country. According to a new report, its value has grown by 37,929 percent in the last month and is currently up 2,081,399 percent over the year.

Regarding such a great interest in the new token, it is not a surprise that many investors are starting to put up the so-called “Dogecoin Killer” for trading. However, despite its wider availability, the token carries a much higher risk than its other alternatives. So, if you want to invest, you should definitely be careful.

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