Investors’ Focus Shifts to this New Shiba Rival Meme Token with 500% Upside Potential this Bull Run
As the prolonged crypto winter subsides and positive sentiment boosts the prices of cryptocurrencies, traders and investors line up to participate in the dynamic cryptocurrency market. With renewed investors’ confidence and a bull run over the horizon, one wonders which token to invest in.
The Fear and Greed index, which provides an insight into the sentiment of crypto investors, displayed “Extreme Greed” as its latest reading. This is a new high for the index, indicating that investors are heavily inclined to buy cryptocurrencies.
New Shiba Inu Rival Disrupts Market
Meme coins are one of the most interesting and exciting investment vehicles to emerge from the crypto space. Passionate projects sport famous memes as their token’s mascot, as their meme coin participates in the crypto market. Dogecoin (DOGE), Shiba Inu (SHIB), PEPE, and BEFE are some of the meme coins that exist today.
Shiba Inu, which has been around for more than three years, is currently the second largest cryptocurrency in the world. Shiba Inu boasts a market capitalization of over $8.4 billion, and a daily trading volume of $2.3 billion. Interestingly, the price of Shiba Inu went up 28.5% over the past 24 hours, while its trading volume surged a whopping 144.7%.
However, this dog themed meme coin is facing considerable competition from a new meme coin called BEFE. The Blockchain Ecosystem for Everyone token was launched in November 2023, and has since disrupted the meme coin space. This new meme token has returned more than 460% to investors since its launch, and has managed to secure a market capitalization of over $40 million.
Memecoin Season
The recent price action witnessed in the crypto market indicates that a bull run is imminent. Upcoming events
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