-A late addition to the crypto world, the SHIBU INU Coin is dominating in the marketplace among the speculative investors that prefer the volatile coins. Shibu Inu went viral under the nickname the "Doge Killer". It is still a big if though! DogeCoin took its place in the crypto world as the entertainment coin, Shibu is still new.
-Important point is that the Crypto Fear & Greed Index is standing currently at 26 compared to last month's 75. This shows us that investors now are more hesitant and cautious.
Our Opinion: Doge can lose its value both due to the new addition that is competing against it and also due to the Fear in the crypto marketplace. Our target price is around: 0.37-0.38.
In order for this to happen, Shibu would need to gain real world application and support..... What makes this different and better from DOGE? Is it reasonable to think that most would abandon a coin that they have been working so hard to get put into use for another coin? Personally it makes no sense. Drop this coin because this other coin is newer?
caldooninvestment
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@CKtrader001 Dogecoin’s price is not based on its underlying technology, it’s based on its cultural value. If you really want to go deep into details, none of the penny stocks or penny coins worth the market cap that they are standing at rn
CKtrader001
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@caldooninvestment, for sure, I agree with you. However, I didn't mention anything about Doge technology, only culture support like you mentioned.
Spaeth23OSU
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@CKtrader001, the reason that Shiba Inu would take away from Doge investors is because it has a much lower market cap and thus has the potential for larger gains. Dogecoin is becoming so large that the potential for fast gains is diminishing. Meanwhile, Shiba just had 300+% gains (I don't know the exact number) in the past week. Returns like that draw attention.
CKtrader001
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@Spaeth23OSU, that makes total sense short term. What Im asking is how would Shiba convince those who adopted DOGE as a form of payment, to abandon DOGE. I just dont see that happening. Whoever too profits congrats, but pumps like SHIBA happen all the time when a new coin is introduced
jlayfield85
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No.
SignalProvider
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My technical analysis shows that you are correct!
quality stuff