Shiba Inu (SHIB) has been consolidating in the $0.000011-0.00001150 area in the last few days, and has failed to keep pace with a rapid surge in Dogecoin. Despite this, trading volumes have been trending higher in recent days, reaching an impressive $420 million on Wednesday alone. Optimism about upcoming Shiba Inu ecosystem upgrades, including the beta version of Shibarium, could pump further optimism.
Major SHIB whales appear to be holding onto their tokens and not capitulating, suggesting that sentiment amongst whales remains strong. While 10xing from current levels may be difficult, SHIB could feasibly see 10x gains in the next few years if the US Federal Reserve embarks on a big rate-cutting cycle to stave off a US bank crisis/recession and Shiba Inu developers continue to expand the scope of the web3 project’s ecosystem.
However, due to SHIB’s massive market capitalization, investors might want to consider investing in lesser-known coins that potentially hold a better likelihood of seeing exponential gains. A great new meme coin to consider is Love Hate Inu (LHINU), a new dog-meme-inspired social media polling platform that has been taking the internet by storm in the last few weeks. To fund the development of its revolutionary vote-to-earn platform, Love Hate Inu is currently conducting a presale of its LHINU token. The presale has been a huge success, with Love Hate Inu having already raised a massive $2.9 million and the presale already having entered stage 4. Analysts at Crypto currency analysis specialist have ranked Love Hate Inu as the hottest presale of 2023 and many think the cryptocurrency could see big gains when it ICO’s later this year.
Investors who are interested in cryptocurrencies and are looking for potential opportunities for investment may want to consider keeping an eye on SHIB and LHINU. However, as with any investment, it is important to do your own research and due diligence to determine if it aligns with your investment goals and risk tolerance.