Alien Shiba Inu Saw A 500% Rally, Only To Fizzle Out Some Time Later

While the big leaguers were still fighting the bearish market sentiment that took over the crypto marketspace by storm just a while ago, a  select few investors grabbed onto windfall gains by investing in lesser  known cryptocurrencies like BabyDoge and Alien Shiba Inu.

Needless to say, 2022 may have started with big hopes for Bitcoin and  Ethereum, but the crypto market has once again laid its unpredictability bare, as these two tokens have yet to see a rally for this year.

But on January 9 2022, Alien Shiba Inu (ASHIB), a lesser known, Shiba  Inu inspired memecoin, startled the crypto crowd with over 500% growth  in less than 24 hours. Nonetheless, its gains evened out soon after.

It’s worth noting that like BabyDoge and Floki, the memecoin is developed to target those who were one step too late in profiting  from the bulls runs the famed dog-themed currencies: Dogecoin and  Shiba Inu.

According to CoinMarketCap (as reported by NDTV), the digital currency  was trading at an all-time low on January 8 at $0.0003603; but just  hours later, it had registered a stupendous growth of more than 500  percent to touch $0.009869. However, as mentioned before, its profits  have receded since.

Whist there are no immediate warning signs suggesting any scams for this  project, there is also little to go on their background as well as future plans for the community, swaying experts to advise  caution for those wanting to make a quick buck through Alien Shiba Inu.

Their official website avouches “three flagship utility projects” - a collection of NFT characters for play-to-earn gaming, a decentralised  exchange (DEX), and a merchandise marketplace called AlienShibaInuCrew.

Still ranking at 3313 on CoinMarketCap, the cryptocurrency had launched  not that long ago, i.e., in November last year, and is currently not yet  listed on a number of big name crypto exchanges.

Yellow Star
Yellow Star

Alien Shiba Inu Saw A 500% Rally In Less Than 24 Hours, Only To Fizzle Out Some Time Later