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SHIB Gains 28% Against DOGE in December as Major Release Is Expected

Thu, 12/29/2022 - 09:34
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Gamza Khanzadaev
Shiba Inu token soars almost 30% against Dogecoin in December, while Shibarium release approaches
SHIB Gains 28% Against DOGE in December as Major Release Is Expected
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Since the start of the last month of the year, the Shiba Inu token, SHIB, has risen by more than 28% against its segment counterpart, Dogecoin. SHIB showed a big increase in December after three months of unrelenting falls to DOGE by almost 65% cumulatively. Then, in late summer, the Shiba Inu token reached its highest value in a year, trading at 0.00022 to DOGE, and now that figure is still only half as high.

Source: TradingView

In the autumn, Dogecoin had the upper hand when the token's main ambassador, Elon Musk, finalized a deal to buy Twitter, immediately generating a lot of rumors about the use of cryptocurrencies on the popular social network and boosting the price of DOGE by 100% and more.

DOGE Becomes Top Traded Crypto by Whales After Elon Musk's New Post

Now that the hype has died down and the eccentric billionaire is thinking about stepping down as CEO of Twitter, the DOGE narrative is fading into the background, giving a pass to SHIB with its own news bombs.

Answer to question "Wen Shibarium?" becomes clearer

One of these "unexploded shells" is, of course, Shibarium — rumors, hints and encrypted messages about which surfaced more and more often here and there toward the end of the year.

SHIB Burns Likely to Soar Once Shibarium Launches, SHIB Army Says, Here's Why

Originally, Shibarium was supposed to be released as early as the third quarter of this year. However, according to the developers, more time is needed for the release to go smoothly right away.

It seemed that there were chances that it would appear before the end of the year, when the silence of the developers was interrupted by various hints, and the countdown appeared on the main page of the Shiba Inu website. But again, no. Now it is obvious that the long-awaited protocol will not appear until 2023.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.