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Shiba Inu (SHIB) Soars 13% Against Dogecoin (DOGE) and That May Not Be All Yet

Sun, 12/18/2022 - 11:25
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Gamza Khanzadaev
SHIB up 13% against DOGE in a week with more triggers on way
Shiba Inu (SHIB) Soars 13% Against Dogecoin (DOGE) and That May Not Be All Yet
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The Shiba Inu token is up 13% this week against its main sector rival, Dogecoin (DOGE). This week was the second in a row that SHIB rose against DOGE, with a cumulative result of 24%. Interestingly, however, Shiba Inu token quotations had fallen by similar figures against Dogecoin in the previous similar period.

Source: TradingView

A surprise announcement from the official Twitter account of Shiba Inu is the reason why SHIB versus DOGE quotations have perked up. It invites everyone to follow a site where a countdown is now underway, which is due to end on Dec. 20 at 8 p.m. UTC.

Crypto enthusiasts took the timer as a signal for the release of Shibarium, Shiba Inu's own Layer 2 solution. Rumors of a possible release of the long-awaited protocol have caused a price surge of another ecosystem token, BONE. Thus, its price rise today reached 38% at one point, but then gave up 14% of it.

SHIB Trading Volume Jumps 128% as Price Nears Buying Support

What else can be expected?

While everyone is waiting for Shibarium, this might not be all there is to it. More accurately, the Layer 2 solution is the most unlikely of all that can be expected. The countdown more likely marks the release of the redesigned Shiba Inu website as well as the release of the ecosystem wiki.

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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.