Should We Expect Another Shiba Inu Crash?

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In recent weeks, Shiba Inu the supposed Doge killer experienced a sudden rise in value due to many factors but this doesn't seem to be stretching any longer from the look of things. This meme token which was created to be the Doge killer might just have killed itself with the sudden pump and dump it is experiencing. And while others might call it pointless or worthless due to the large amount in circulation there are 3 major reasons why Shiba Inu enjoyed the sudden rise that caught our attention.

First were the talks about a mysterious whale buying huge amounts of Shiba Inu. It is obvious that actions like this can increase the rarity of an item thereby pushing onlookers into a buying frenzy. For instance, most people would have thought perhaps this Doge killer was about to get the huge break it promised everyone and so the FOMO syndrome swallowed many. And while some managed to ride the pump and made a sensible amount of money, others found themselves buried too deep under the dip.

Another key player in the huge pump was Coinbase. This meme based coin that was once forgotten got extra credit when Coinbase added it to its list there by allowing users trade Shiba Inu on its website and app. These caused a 35% rise according to the Mint but it still could not surpass the 0.00004700 value it had once reached months ago. These pump pushed major investors to sell off in a bid to make as much profit which caused a deeper heartbreaking dip for the Doge killer.

Next came our old friend Elon Musk. It is not new that this man has considerable influence on the market and he has from time to time made use of this influence subtly. First came Doge Coin and the favoritism it enjoyed at the beginning of the year and now Shiba Inu. Although some critics might argue that Elon didn't play a direct role, his tweet of a picture of his dog a Shiba Inu breed called Floki started another huge frenzy. Not long did the hashtag #SHIB begin to trend which played on people's FOMO syndrome and pushed them into a buying frenzy.

Currently trading above 0.00002, many are hoping that Shiba Inu might kill yet another zero soon but is this possibility possible or just a wish in the heart of many holders since this token is literally treated like a pump and dumb asset. These meme token although created by another anonymous creator in August 2020 might just have a long way to go if it is ever going to become the Doge killer. And although it increased over 113.2% in the past week and is still sitting pretty on the binance hot list with Doge and other altcoins it would be safe to say holders should expect just anything.

As at October 13, Shiba Inu seems to be fighting to stay on top but it is intriguing to watch and see just how far it might pump again or perhaps reach a new ATH/ATL. It is important that investors try not to be greedy but invest an amount that won't hurt them or their egos should the market come crashing again.