Shiba Inu (SHIB): New Market Maker or New Attempt to Disrupt the Market?

Shiba Inu (SHIB): New Market Maker or New Attempt to Disrupt the Market?

Source: Cryptoonliner

The colossal success of the meaningless Dogecoin (DOGE) could not fail to spark the emergence of copycats. And they appeared. New gainer – the coin named Shiba Inu (SHIB).

The whole market is in red. There is nothing unexpected in this because, after a fast growth, a correction follows as a rule. Unexpectedly, the new coin Shiba Inu (SHIB) became a gainer that continues to grow despite the whole almost market. Its creators do not even hide in the name that they intend to repeat the speculative success of Dogecoin (DOGE). SHIB is obviously a clone of DOGE, both use the image of a cute Shiba Inu dog in their designation.

Until mid-April, the price of the SHIB token was expressed as a homeopathically low value of $0.00000017. The fast growth began after the token was quoted on exchanges. Now five exchanges have added it, and the most rapid growth began after listing on Binance. SHIB rose almost 150% in 5 hours, from $0.000015 to $0.000037. Later, the growth continued to a historic high of $0.0000388 due to the verbal intervention of Elon Musk. He tweeted a supposedly innocent post that he would like to get a Shiba Inu puppy. The community just perceived Shiba Inu (SHIB) as a Dogecoin puppy. The creators of Shiba

Inu explain the emergence of a new meaningless coin with a mysterious phrase:

– Many doggie wars have been waged over precious treasure and delicious goodies.

It is believed that Shiba Inu dogs often forget where they hid a tasty bone for a rainy day. Obviously, hype is artificially created around the dog’s coins. Some experts believe that this factor can be devastating to the cryptocurrency market. Already, both dog’s coins are in the TOP-20 cryptocurrencies: DOGE – in 4th place, SHIB – in 17th according to Coinmarketcap.

DOGE continues to grow thanks to the efforts of Elon Musk. His company Space-X announced the day before that it would accept DOGE as payment for launching a Geometric Energy Corporation satellite into lunar orbit. It is noteworthy that this mission is called DOGE-1 and will take place next year.

Elon Musk seems probing to what extent it will be allowed to pump meaningless cryptocurrencies before the regulator intervenes. He acted in exactly the same way when he tried to manipulate the fiat stock market. Then, in August 2018, Musk pumped Tesla shares via Twitter. He announced that he wants to make the company non-public again and is ready to buy back shares at a price 20% higher than the market. For this trick, the SEC fined Musk $20 million. Now the regulator does not react to the cheeky actions of the super-entrepreneur. Perhaps the SEC is also interested in disrupting the cryptocurrency market.