Shibnobi, trading as SHINJA in the indices is displaying bullish sentiments as it shot up +592.4% in the last 30-days. SHINJA is on an upward spiral as investors are pouring in their money on the meme-token.
Investors believe the token could be the next Dogecoin or Shiba Inu and generate profits in a similar fashion. Therefore, many investors are taking early entry positions in the hopes of making it big during the next bull run.
Meme-tokens are all the rage in 2021 and Shibnobi entered the market at the right place and the right time. The token was launched in November 2021 and is up +5,679.4%. It spiked to new numbers each week.
A mere $2,000 invested in Shibnobi during its launch would be worth $113,580 today. That’s a phenomenal return on investment in a span of fewer than two months.
The meme-token received support from the Shiba Inu community as influencers are promoting it. Shibnobi is seen as an extension of SHIB despite the two tokens not being co-related. However, it is riding on the ‘meme-token frenzy’ that whipped the market and needs to keep its hype alive to survive.
Shibnobi also breached the $1 billion in market cap on December 17, and spiked +50% the same day. Since then, the meme-token has attracted buying pressure that eventually propelled its price to new weekly highs.
Shibnobi Token : The Future Path
The future seems to be promising for Shibnobi if they maintain their hype for an extended period and do not fizzle out. Newer meme-tokens are popping up like mushrooms in the market and can eclipse SHINJA in a jiffy.
However, Shibnobi has added good DeFi features that its holders can take advantage of in terms of profits. Investors can stake their holdings in the liquidity pool and earn growing rewards simultaneously.
The liquidity providers have an option to stake their LP tokens in secured pools to gain additional rewards concurrently. Shibnobi has an option of instant-staking to earn passive income through reflections.
SHINJA is a relatively new meme-token and it’s hard to pinpoint its price moves. However, if it reaches the meme-token investors base and shows its strength, a price rise is inevitable.