Shiba Inu Experiences DOGE’s Jumps As Elon’s Favorite Memecoin Sinks

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Last Updated on 19 September 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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A few months ago, I already pondered on this platform whether Shiba Inu had the potential to become the next Dogecoin. DOGE, the famous memecoin which is apparently still Elon Musk’s favorite crypto (notice his 13 September tweet), has had a stellar 2021 but appears to be losing some of its steam in the past few weeks.

Shiba Inu, a copycat coin born out of the ashes of DOGE’s success, had apparently slipped after its makers decided to give a large portion of the coins to Ethereum’s Vitalik Buterin. Vitalik saw the Delta-variant wave in India and decided to give away a large part of his received Shiba Inu coins to an Indian charity instead, causing the price to collapse.

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Coinbase listing

Last Friday, Shiba (still 80% down of its all time high) was seen jumping some 25% at a certain point when Coinbase Global listed the memecoin for trading. Knowing that another trading platform, Robinhood, has seen tremendous success because of the large appetite of youngsters for Dogecoin this year, it might be a sign of things to come for Shiba Inu of course.

By now, Shiba Inu sits around the number 50 spot on CoinMarketCap while Dogecoin has somehow slipped from the top 5 spot to number 9.

And the traders, they have apparently already discovered another memecoin around the same theme. Banking on the tremendous success of the Netflix series La Casa De Papel (Money Heist), a new memecoin with a Shiba Inu dog was introduced. Its name La Doge De Papel.

Be on the lookout in the next few weeks to see who will come out victorious.