Early Shiba Inu Investors Move Funds to New Token, Seeking 987%

Joel Frank

Last updated:

May 16, 2024 13:34 EDT

| 2 min read

Early Shiba Inu Investors Move Funds to New Token, Seeking 987% Profits / Source: Cryptonews

As Shiba Inu (SHIB) eyes a potential push higher following a recent bullish pattern breakout and amid positive news for its DeFi ecosystem, early investors are moving funds to a new token called 99Bitcoins (99BTC) as they seek 987% profits.

SHIB was last trading down 3.3% on Thursday around $0.00002450, having earlier pushed towards $0.000026.

The meme coin, the second largest by market cap after Dogecoin, broke out of a multi-week pennant pattern on Wednesday.

Technical analysis suggests risks are tilted towards a retest of late-March highs.

And news that ShibaSwap has finally migrated to Shibarium could help ignite fresh bullish sentiment.

Shiba Inu developers launched Shibarium, a layer-2 blockchain designed to be the home of the Shiba Inu ecosystem, last year.

But so far, it’s largely been a dud, with barely over $2 million in TVL as per DeFi Llama.

ShibaSwap, Shiba Inu’s previously Ethereum-based DEX, has been more successful.

The DEX routinely logs daily trading volumes in the millions of dollars, CoinGecko data shows.

ShibaSwap’s expansion to Shibarium should bring some much-needed liquidity to the struggling blockchain.

Not only is that a boost to the Shiba Inu web3 ecosystem, but should also lift the SHIB burn rate.

Investors Move Funds to New Token 99Bitcoins (99BTC) – Here’s Why.

SHIB could see near-term upside, but a new token in the learn-to-earn (L2E) niche is attracting a lot of hype.

Well-established crypto education platform 99Bitcoins is launching a new token that will reward users for learning about crypto.

And investors are flooding in to get in on the presale before it sells out.

99Bitcoins’ has over 700,000 YouTube subscribers, over 100,000 enrolled students and a huge 2.5 million mailing list.

That positions it to immediately become a leader in the L2E space.

The new token will initially launch on Ethereum, but eventually, as BRC-20 to pioneer L2E on the Bitcoin blockchain.

Investors have already piled nearly $1.3 million into the presale. And potential investors better move quickly, as when $2 million is hit, the 99BTC price will rise.

99BTC will power 99Bitcoins’ L2E platform, whilst...

https://cryptonews.com/news/early-shiba-inu-investors-move-funds-to-new-token-seeking-987-profits.htm

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