The Shiba Inu Bounce Back May Be Just Temporary


Recent news hasn't been game-changing, so don't see the recent increase as a hint of a Shiba Inu comeback.

After a dramatic drop in January, major cryptocurrencies have been rebounding so far in February. Nonetheless, none of the names in the CoinMarketCap top 20 have witnessed as a significant increase as Shiba Inu (SHIB-USD).

SHIB has risen dramatically during the last seven trade days. Even when compared to the modest gains seen with Bitcoin (BTC-USD), Ethereum (ETH-USD), and Dogecoin's "pupcoin" forefather (DOGE-USD). What's the story here?

Unlike previous rounds of "Shiba mania," there are two elements that help explain this time's significant spike. First and foremost, more work on its metaverse objectives. Second, there's word of a token burning (more on that below) planned for Valentine's Day.

When it comes to this memecoin, there is a high chance of making the incorrect decision on its next move. Predicting where it will go next is about as simple as predicting which Powerball numbers would win the prize. However, when you look at the causes behind its latest bounce, it's difficult to believe that this is only the beginning of a rebound for this pupcoin.

Shiba Inu and its Recent Jump in Price

Overall, investors are returning to cryptocurrency with caution. It's also unclear whether upcoming rate hikes will result in even lower pricing for this asset class (more below). But, for the time being, as the market relaxes about rate hikes, we are seeing a return to "risk-on" investments.

shibainu has seen a large surge in price in a couple of days, in addition to the aforementioned developments (metaverse, coin burn). It has climbed in price by more than 50% since last week. In comparison, BTC-USD and ETH-USD are both up roughly 14 percent within the same timeframe.

What about Dogecoin? Its recovery has been more of a bark than a bite, with the dog-themed coin that started it all up losing only 15% of its value during the same time period. While some may be eager to get in now in the hopes that Shiba craze, if not pupcoin mania, will return, if you fall into that camp, you should think twice before investing.

Again, given the volatility of the market, making a firm prediction on SHIB one week may leave you eating humble pie the next. Nonetheless, separating the hype from the realities in light of recent developments, and taking into consideration potential hazards for cryptocurrencies in general? You should use caution when tracking its most recent rally.

The Truth About its Metaverse and Token Burn News

shibainu's recent price increase may be explained by the metaverse and token burning news. Is it a wise decision?

Not so quickly. This appears to be an overreaction in the case of metaverse news. The "upgrade" that fueled its rise was essentially a formal notice by the token's developers about their in-development Shiba-themed realm, where users will be able to acquire virtual real estate.

What about the token burning? In case you're unfamiliar, coin/token burning is the crypto world's equivalent of share buybacks. Burning involves coin/token holders "burning," or destroying, some of their holdings. This reduces the available supply and, in theory, raises the underlying value of each remaining coin or token. A large volume of coin/token burning, similar to stock buybacks, can accomplish this.

However, in the case of the forthcoming burn, this will not result in a significant number of outstanding tokens being removed from circulation. Based on previous incidents, the imminent burn will result in the removal of hundreds of millions, if not billions, of tokens from circulation. This may appear to be a large sum, but keep in mind that there are 589 trillion in circulation. Forget about billions of dollars; a coin burn in the trillions would be required to truly move the needle.

Aside from the less fascinating aspects of the latest Shiba advancements, the crypto industry is still plagued by a significant level of risk/uncertainty. As I recently noted while discussing Cardano (ADA-USD), rate hikes might yet put additional pressure on this area. So, for example, could a prospective impending regulation from the United States Federal Government. Another market-wide sell-off is possible in the near future, causing this token to fall back following its recent surge.

Bottom Line on SHIB-USD

As always, if you want to take a chance on a "fun" cryptocurrency that may make big fluctuations, you should do so. Then by all means, purchase a tiny stake and try your luck. However, if you're wanting to place a substantial bet on a comeback, you should proceed with caution.

Recent shibainu events have been pushed out of control. With the potential of another crypto sell-off, it's not worth taking a huge bet on it right now.

Robinhood disappoints in first earnings report since market debut 

robinhood (NASDAQ:HOOD) is currently one of the most popular e-trading platforms in the United States, yet it still has flaws. HOOD stock has been been declining since its initial public offering (IPO) last year. Not to mention the ongoing issue surrounding the retail "meme" investing craze from earlier this year. And now, this week, robinhood has released a less-than-impressive earnings report. Investors are pondering the company's relationship with shibainu coins, or lack thereof, following a series of bad luck. Could the cryptocurrency shiba inu be the solution to Robinhood's problems?

HOOD hasn't done well this week, or even in the last year, as InvestorPlace Assistant News Writer Eddie Pan highlighted earlier in the day. HOOD's stock has dropped more than 35% since its IPO in July. It even hit a new low today, trading at $11.41, before marginally rebounding. This is largely attributable to the company's poor performance in the fourth quarter of last year.

The company didn't disappoint in terms of sales, either; it came in slightly ahead of analysts' expectations, with $363 million vs a projected $362.1 million. However, it fell short of expectations in terms of user growth. It has lost almost 1.5 million monthly average users, according to the company. Furthermore, it is forecasting $340 million in revenue for the first quarter of the year, a considerable drop from the previous year.

Could Listing the shibainu coins Help HOOD Stock Crawl Out of a Hole?

The earnings report is just another stumbling block in HOOD stock's tumultuous first year on the market. It's now reigniting interest in a cryptocurrency shiba inu listing.

Anyone who has been following pupcoins in the last year is familiar with SHIB and its incredible path into 2021. SHIB's year ended with gains of almost 1,000 percent, thanks to the success of Dogecoin . The community's efforts to see a SHIB listing on robinhood, on the other hand, have been a failure.

One of the reasons for DOGE's spectacular surge last year was robinhood cryptocurrency trading platform; through the e-trading app, more investors were directly exposed to Dogecoin than ever before. Taking this into consideration, the shibainu coins community has been adamant that a robinhood listing would be a significant stimulus. This is said to be true not only for SHIB but also for HOOD stock. Indeed, SHIB shareholders believe that placing Shiba Inu on the robinhood platform would attract more users; but, given the profits report, this is a statistic that is clearly failing.

There have been several petitions urging that the token be listed. In reality, robinhood has taken note of SHIB bulls as a result of the concerted community effort. Unfortunately for the bulls, the corporation has been resisting calls for a public offering. But, given that the terrible Q4 user base performance is in the rearview mirror, could a listing be reconsidered? Investors appear to be pressing for a relisting, and there are rumors that the company may shortly increase its crypto offering. Perhaps this is the right time for the communities to join together.


Post a Comment

* Please Don't Spam Here. All the Comments are Reviewed by Admin.
Post a Comment (0)