Due to the sideways movement of the king of crypto, some altcoins have outperformed BTC in terms of short-term performance. This is not surprising, especially for Shiba Coin. The team that effectively utilizes the Shibarium hype and social media power has reaped the rewards. Meanwhile, many altcoin investors experienced frustrating losses during the same period.
Latest Comments on Shiba Coin
Shiba Inu’s native cryptocurrency, SHIB, has performed better than the top ten cryptocurrencies in the last seven days. The second largest meme coin has gained 20% during this period. The SHIB community is eagerly awaiting the release of Shibarium, their own layer2 solution. Shiba Inu reached its monthly peak on Saturday with an increase of over 8% to $0.00001107. However, at the time of writing, the price had dropped to $0.00001076.
Last month, Shytoshi Kusama, the lead developer of the project, stated that the layer2 network would likely be launched this month. NOWNodes, one of the key partners leading the development of Shibarium, has started the countdown for its launch. Although they did not specify the remaining number of days, they mentioned that the only remaining step is the release of the main network’s final version.
On the other hand, the occurrence of the “buy the rumor, sell the news” phenomenon, which we have seen in many altcoins in the past, is not insignificant for the price of Shiba Coin.
Shiba Coin Price in Turkish Lira
21milyon.com, which allows tracking of exchange rates on Turkish crypto exchanges from a single screen, provides real-time data on TL prices. According to the data available at the time of writing, the price is at 0.0002933 TL.
Blockchain analytics firm Kaiko noted that Shiba Inu has risen over 25% since July 1st following a wave of developer activity on the network. Meanwhile, other announcements, including a recent “SoonTM” tweet from Shibtoken’s official X account, have contributed to the short-term rise. We may continue to witness this excitement for a while.
Looking at the overall market, we did not see significant movements in the top 100 cryptocurrencies. Only Rollbit Coin (RLB) outperformed Shiba Inu, rising by 66%.
