Ethereum-based SHIB, launched in August 2020 as a rival to DOGE.

There’s been an increasing amount of excitement surrounding the two digital assets. In fact, last week, they surpassed Bitcoin on CoinMarketCap’s “most viewed cryptocurrencies” list, bumping the world’s largest and most valuable coin to third place.
SHIB may have little (as of yet) underlying value or use cases. Still, experts say that its popularity should not be ignored: it reflects the behaviors of a new, growing class of cryptocurrency traders.

According to Ben Caselin, head of research and strategy at crypto exchange AAX. “Rather than simply dismissing the hype outright, it’s important to realize that what we’re seeing is the mass movement of traders new to crypto moving into the space.”

SHIB should be considered as one of the many meme coins that have been created in recent months as this subsection of crypto traders gravitate toward coins based on memes and community as opposed to ones with superior technology or underlying use cases like Bitcoin and Ethereum.

SHIB’S FUTURE, LIKE SAFEMOON’S, IS UNCERTAIN, and it may already be too late to get in on the action.

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