shiba among currencies

Shiba Inu Recovers Faster Than Bitcoin and Ethereum As ShibArmy Buys The Dip

The darling meme-coin of 2021 Shiba Inu had a rough start in the new year, 2022. Shib was in a downfall and got fdragged even further as the overall crypto markets crashed. We have already covered the reasons why Crypto markets are crashing.

The global crypto market was valued more than $3.1 trillion for the first time in 2021. As of January 2022, its worth had dropped to $1.65 trillion. Major cryptos like Bitcoin, Ether, and Binance Coin saw major sell-off as investors panicked. But guess what? The SHIBARMY is different than others! The SHIBA INU community was optimistic about the future and was actively encouraging everyone to ‘buy the dip’

35% Rise In 20 Hours

Their ‘buy the dip’ alerts have now come true as the price of the meme-coin zoomed 35% in a matter of 20 hours yesterday. The Shib token went from $0.00001713 to $0.00002354 in a day. The ShibArmy expressed their delight after the price rally.

It is currently the 14th most valuable cryptocurrency by market capitalization, having surpassed Polygon. The meme-based currency is currently trading at $0.00002303. During an unfavourable sell-off, SHIB fell to $0.00001704, its lowest level since Oct. 6.

Shiba Inu Vs Overall Crypto Market

After the recovery in prices, Twitter was flooded with #ShibArmy tags and the community shared screenshots of how much money they made by buying the dip. Shiba Inu recovered faster than the overall crypto markets.

Meanwhile, China has outright banned any cryptocurrency-related activity, and the US government is likewise cracking down on certain areas of the business. The Russian central bank has asked for a complete ban on cryptocurrency use and mining on Russian soil, arguing that the digital currency threatens financial stability and monetary policy autonomy.

What do you think about the whole story? Tell us your thoughts in the comments.

Shaheer is passionate about living a life seeking un-ending knowledge, philomath, as you may think of him. He's a student of Finance and a keen observer of Business and Indian-Political scenario who takes pleasure to pen down his views and opinions on the same. As his guiding mantra to life, ‘Come what may , life goes on’ helps.

Leave a Reply