Shiba Inu Governance Token Shoots Up 96% Over The Past Month — Leaves Dogecoin, Pepe Coin Trailing In The Dust
Portfolio Pulse from Mehab Qureshi
Shiba Inu's governance token, Bone ShibaSwap (CRYPTO: BONE), has rallied 95.06% in the last 30 days, outperforming Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and Pepe Coin (CRYPTO: PEPE). This surge comes as Shiba Inu's developer announced that Shibarium, a layer-2 solution expected to address scalability issues and reduce transaction fees, is set to go live after a conference in August. Additionally, data reveals a 3876% spike in the burn rate of Shiba Inu tokens in the last 24 hours.
July 10, 2023 | 9:27 am
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POSITIVE IMPACT
Bone ShibaSwap has rallied 95.06% in the last 30 days, outperforming other meme-inspired cryptos. The upcoming launch of Shibarium and a spike in Shiba Inu's burn rate could further boost its performance.
The rally in Bone ShibaSwap's price, coupled with the upcoming launch of Shibarium and the spike in Shiba Inu's burn rate, could attract more investors, potentially driving its price up further.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shiba Inu has seen a 20.29% increase in the last 30 days, but still underperforms compared to Bone ShibaSwap. The upcoming launch of Shibarium and the spike in Shiba Inu's burn rate could potentially boost its performance.
The upcoming launch of Shibarium and the spike in Shiba Inu's burn rate could attract more investors, potentially driving its price up further.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin has underperformed compared to Bone ShibaSwap, with a 30-day increase of only 7%. The upcoming launch of Shibarium could potentially divert investor interest away from Dogecoin.
Dogecoin's underperformance compared to Bone ShibaSwap, along with the upcoming launch of Shibarium, could potentially divert investor interest away from Dogecoin, negatively impacting its price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Pepe Coin has seen a 56% increase in the last 30 days, but still underperforms compared to Bone ShibaSwap. The upcoming launch of Shibarium could potentially impact Pepe Coin's performance.
Pepe Coin's underperformance compared to Bone ShibaSwap, along with the upcoming launch of Shibarium, could potentially impact its performance negatively.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70