Move Over Bitcoin – Is Shiba Inu The Next Crypto Gold?

Christian Encila

Last Updated: June 11, 2024 7:47 am

2 mins read

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Is Bitcoin ready to throw in the towel and allow Shiba Inu to snag its crypto gold status?

Not likely.

But, anything can happen.

If you want a more reliable and stable trade then go for the kings of cryptocurrency, Bitcoin, and Ethereum.

These two leading cryptocurrencies have been consistently moving on an upward trend for the past two years.

However, Shiba Inu is getting more attention for its recent remarkable increase in market value at 0.12%. Was it just a lucky streak or is Shiba Inu primed to be the next crypto gold?

Suggested Reading | Bitcoin Falls Back To $40,000 As Fed Mulls Faster Rate Bumps

Shiba Inu Gains More Traction

Why is Shiba Inu gaining that instant fame threatening the post of Bitcoin and Ethereum? Well, the Dogecoin killer Shiba Inu (SHIB) has performed way beyond the standards of a top-performing asset.

The standard is around the figures of 2,000% or a little higher. However, Shiba Inu was able to surpass that in 2021.

In fact, not even Bitcoin or Ethereum was able to reach that pinnacle of sorts. That humongous one-year gain by SHIB was enough for traders and crypto enthusiasts to compare Shiba Inu with Bitcoin and Ethereum.

SHIB total market cap at $13.50 billion on the weekend chart | Source: TradingView.com

Despite the criticisms and naysayers, SHIB was able to go beyond the expectations of many.

What makes SHIB more robust than ever in 2021 is the fact that it has worked doubly hard to increase its visibility to its target market.

SHIB has amassed great profits in the past two years. It was able to increase its market liquidity and capitalization. The popular vote on the SHIB fence has also increased its following and investors. In fact, the SHIB community has grown so rapidly to more than 1 million.

SHIB – The Most-Searched Crypto in 2021

Shiba Inu is also regarded as the most-searched crypto last year. It has clearly outperformed Bitcoin in terms of popularity and market value.

It might be an issue of having too much information regarding Bitcoin and Ethereum. Clearly, SHIB is enjoying the spotlight and looks ready to ‘bark’ louder.

According to Google Trends, the demand for Bitcoin has died down a bit in the past couple of months.

Shiba Inu has dropped to 4% which gives more opportunity for a buy-in before the prices go up.

The token’s relative strength index (RSI) is now below 50. Buying SHIB now will help crypto aficionados have that vantage point once the prices rebound.

Featured image from NDTV Gadgets 360, chart from TradingView.com

Christian Encila

Christian Encila is a journalist, editor, crypto analyst, and virtual assistant focused on storytelling, financial markets, and digital media. He blends strong writing skills with in-depth analysis, turning complex information into clear, accessible insights.

His writing began in college as a feature writer for his school publication, building research and storytelling skills. He later worked as an editor at a data engineering firm, gaining recognition for writing and discipline.

He expanded internationally in Canada and South Korea, then returned to the Philippines for a decade in a major newsroom. There he became a senior news writer and editor, simplifying complex topics for broad audiences.

He later moved into cryptocurrency journalism as a crypto analyst and market expert at NewsBTC, covering trends and blockchain developments. Alongside writing, he works as a Virtual Assistant supporting editorial operations, workflows, and coordination tasks.

Outside work, he enjoys motorbikes, riding a Yamaha R3, preferring relaxed coastal rides. He spends time with two cats and a dog, and unwinds with coffee, Filipino food, and occasional rum while watching comedy films.

His career blends journalism, analysis, and support roles, reflecting adaptability across media, markets, and digital content production in modern newsroom environments and remote work settings globally.

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