Shiba Inu’s SHIB Memecoin Grows Alongside Bitcoin and Ether

07.02.2022 14:57
by Nina Petrov
1 min read

Memecoins are back in the headlines again since the popular SHIB coin jumped an amazing 26% on an early Monday morning.

Dog-themed tokens are gaining increased popularity, among which the top Dogecoin and Shiba Inu are up from 14% to 34% in only one week.

The growth of the SHIB token is directly influenced by the recent announcement of a newly founded partnership between Shiba Inu and Welly’s (burger fast-food chain). This collaboration will bring us a new brand of the franchise with SHIB themed products and even new NFTs.

Funny enough, memecoins such as SHIB and DOGE are quite stable on the crypto market and have been in the top 20 cryptocurrencies since 2021 – and they don’t seem to be going anywhere.

On the same Monday morning, BTC and ETH have established a stable price of $42k and $3k, respectively.

Since the rise of memecoins, some smaller tokens such as FLOKI are also showing a growth tendency, where this currency has doubled its price level in the past week.

Source: Pexels

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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