Cryptocurrencies are fully decentralized assets that exist on the blockchain, a network that has no need for intermediaries in order to perform transactions and which ensures transparency and security for all of its users. Bitcoin was the first to launch, followed by several other altcoins that followed in its footsteps and were created based on its blueprint. Nowadays, the focus appears to have shifted to a new class, that of the meme coins. These assets are of much lower monetary value than their peers, which is considered to be one of the main reasons why people are so invested in them.
While standard digital coins and tokens can become quite expensive (a fact that exposes traders to a considerably higher level of risks owing to the ever-changing nature of the assets), the probability of losing a large amount of money is reduced when dealing with meme coins. Their popularity stems from their cultural appeal, as the holdings are based on Internet memes and jokes, something that allows members of the community to feel like they’re part of a larger project as a result of their purchases. Due to their growing popularity, an ever-growing number of investors have started looking into the latest SHIB news today before commencing a transaction in order to have a more comprehensive view of the market and ensure their choices are objective.
What is Shiba Inu?
The Shiba Inu token, also known as SHIB, is a decentralized crypto coin that was initially released in August 2020. Much like Bitcoin, not much is known about its creator, as they have chosen to remain anonymous and are known only as “Ryoshi,” a name which is likely a pseudonym. In fact, there’s no way to even know if Ryoshi is an individual or if SHIB is a group project instead. As the name suggests, the coin was inspired by the Shiba Inu dog breed, much like its predecessor, Dogecoin. The latter is widely regarded as the first meme coin to arrive on the market, and since the beginning, Shiba Inu has centered its branding on the fact that it could potentially become a competitor for Doge.
There have been some concerns over the years regarding the activities of a single whale investor who is known to be in control of billions of dollars worth of Shiba Inu. The reason why this is worrying for some investors is that a single person holding so much capital can lead to centralization becoming more prevalent in the ecosystem. Decentralization is one of the main reasons why users are interested in cryptocurrencies in the first place, so the loss of this functionality would most likely not be well-received by the community.
Like other crypto tokens, Shiba Inu has been associated with frenzied buying patterns and the concept of FOMO, the apprehension and anxiety that come from the belief that you’re missing out on something that could improve your life. Investors can believe that a certain venture will bring them huge amounts of capital, so they rush to get involved only to discover that the situation isn’t what it seemed to be. Poor decision-making is very common in situations like these, and it’s essential to become disciplined and avoid them as much as possible. The very nature of the market makes emotional trading very common, but this approach is much more likely to result in losses rather than gains.
In 2021, Vitalik Buterin, one of Ethereum’s co-founders, donated over 50 trillion to the India COVID-Crypto Relief Fund, the rough equivalent of $1 billion. Later, he also gave $665 million to the Future of Life Institute, a nonprofit organization that seeks to ensure artificial intelligence and other transformative technologies are used to benefit life on Earth.
Bullish Rally
2025 is predicted to be one of the best years in the history of digital assets and holdings, with bullish rallies and continuous consolidation patterns being the norm. This scenario applies to Shiba Inu as well, with investors believing that the meme coin has the potential to reach the $1 level this year. A massive rally would be needed to achieve this incredible milestone, and many analysts believe this phase has already begun, as the price is already exhibiting signs of recovery.
SHIB dealt with massive value swings in the past, so the $1 level still seems like a far-fetched prospect for many. Traders continue to speculate on whether this huge rally could take place, with most believing that it could potentially happen. However, the market conditions would have to be perfect for this to happen. As always, when it comes to cryptocurrencies, it is pretty much impossible to predict the direction a marketplace will take with 100% accuracy. The best thing you can do is come up with a good strategy and stick with it as much as you can.
Given how prices evolve and the fast pace of market trends, you must always leave room for flexibility as well, just in case you need to adjust your game plan at short notice.
The Metrics
Technical analysis remains crucial for all investors who want to increase their likelihood of success. At the moment, Shiba Inu is showing very clear signs of recovery, a very welcome change after the prolonged downturn that left many investors apprehensive about the future of their portfolios. However, it’s not yet clear whether the current movements are the result of a temporary rally or if they are indeed signaling that a major breakout is on the way. The latest Relative Strength Index figures show that SHIB sits at 39.85, indicating oversold condition.
The Moving Average Convergence Divergence displays improving conditions as well, meaning that bullish momentum could in fact be building up.
If you’re an investor and have been thinking about adding Shiba Inu to your portfolio, make sure to do your research before commencing any kind of venture. It’s the only way to make sure your transactions align with your goals and that the choices you make are the best for you.
