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Shiba Inu Rival SHIBONE INU up 57%, Here's Why This Growth Is Different

Thu, 03/23/2023 - 12:04
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Godfrey Benjamin
SHIBONE INU's recent price upshoot being fueled by unique organic trading volume
Shiba Inu Rival SHIBONE INU up 57%, Here's Why This Growth Is Different
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Shiba Inu's budding rival SHIBONE INU is on another major bullish price rampage today at a time when most digital currencies are experiencing a sudden price slip. SHIBONE is trading at a price of $0.000000006775, up 65.77% over the past 24 hours atop a 373.31% upshoot over the past week.

SHIBONE's price growth today appears markedly different from the other bullish price movements it has inked over the past few weeks. This time around, the meme coin is being pushed by a relatively higher trading volume, which surged by 3,038% over the past 24 hours. With more people trading the token, it shows increasing awareness and organic embrace pushing the price upward.

Shibone Inu Chart
Image Source: CoinMarketCap

SHIBONE has consistently featured as a major meme coin whose growth is connected to the success of the Shiba Inu ecosystem. Designed as a platform to support play-to-earn games (P2E), NFTs and staking dApps — which support the upcoming Shibarium Layer 2 — the growth of these applications will also automatically translate to the growth of the token.

The close-knit link to Shiba Inu is a positive proposition for investors who generally believe the Shiba Inu ecosystem is one of the most vibrant in the Web3.0 world of today.

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SHIBONE still has pump and dump feature

It takes a lot of hard work for a meme coin like SHIBONE to attain the needed stability and attract more support from a diverse range of retail customers. While its proposition appears attractive, SHIBONE has not recorded any landmark protocol changes to date.

It has, however, been well-focused on its marketing campaigns through its partner Anant Parker, and while this appears to be yielding results for now, without cogent technical growth, the current hype may not be sustainable in the long term.

There are numerous examples of meme coins that have faded away and, at the moment, SHIBONE's pump and dump tendency is going strong.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.