The post Shiba Inu outperforms Bitcoin in 2024; what’s happening? appeared on BitcoinEthereumNews.com.

Bitcoin gained 69% in 2024, and Shiba Inu gained 136%. This is almost double, and the community is speculating if Shiba Inu has actually outperformed BTC or if it has the potential to stick around on a larger stage, sharing the space with the dominating flagship cryptocurrency with its ETF floating in the market. There is also speculation if this is the right time to buy SHIB. The token value is way less than that of Bitcoin. BTC costs around $69,000, while SHIB is listed at $0.0000246. It will take a much larger number of activities for the community to scale up its listed reputation. Next, Shiba Inu sports a meme coin whose value severely depends on the ongoing sentiments on social media. For instance, Dogecoin was earlier endorsed by Elon Musk and Mark Cuban. This had brought a significant surge to its price. Bitcoin, on the other hand, is considered a digital gold, ideal for storing value and seeing it grow amid heavy fluctuations or volatility. Strengthening the case for BTC is its ETF product, which grants exposure to traders and investors – fetching profits without owning a piece of it. Bitcoin’s utility is gaining momentum, and the world is starting to accept it as a mode of payment. Altcoins were explored when Bitcoin was consolidating between $61,000 and $64,000. It has broken that strap to move on the way to achieving a new ATH, possibly surpassing the mark of $75,000 by the end of next month. Analysts believe BTC can go as high as $84,000 to $100,000 by 2024. Alternatively, Bitcoin may touch the mark of $150,000. Shiba Inu’s primary goal is to dethrone DOGE from the top of the meme chart regarding the market. It has a long way to go if it wants to move above…

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Filed under: News - @ May 27, 2024 12:18 pm