Shiba Inu Rally Accelerates Over The Weekend As The Meme Crypto Goes Vertical: What's Going On
Portfolio Pulse from Shanthi Rexaline
Shiba Inu (CRYPTO: SHIB) and Bone Shiba Swap (CRYPTO: BONE) experienced significant gains over the weekend, with SHIB gaining about 20% and BONE rallying nearly 23%. The rally comes despite a risk-off mood in the broader financial market due to Fitch's downgrade of the U.S. sovereign rating. The sentiment towards these cryptos has improved ahead of the launch of Shiba Inu's blockchain project, Shibarium, which is expected to be more energy-efficient and faster than Ethereum (CRYPTO: ETH).
August 05, 2023 | 5:02 pm
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NEGATIVE IMPACT
The upcoming launch of Shiba Inu's blockchain project, Shibarium, is expected to be more energy-efficient and faster than Ethereum (CRYPTO: ETH).
The launch of Shibarium, which is expected to be more energy-efficient and faster than Ethereum, could potentially impact Ethereum's market position and price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Bone Shiba Swap (CRYPTO: BONE) rallied nearly 23% over the weekend, outperforming Shiba Inu.
Bone Shiba Swap's rally, which outperformed Shiba Inu, indicates strong investor sentiment towards the crypto. The upcoming launch of Shiba Inu's blockchain project, Shibarium, could also be driving the rally.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Shiba Inu (CRYPTO: SHIB) experienced a significant gain of about 20% over the weekend, despite a risk-off mood in the broader financial market.
The rally in Shiba Inu comes despite a risk-off mood in the broader financial market, indicating strong investor sentiment towards the crypto. The upcoming launch of Shiba Inu's blockchain project, Shibarium, could also be driving the rally.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100