There’s a new name in the pupcoin pack that is turning heads as it continues to shoot up. Indeed, if you haven’t heard the name Shibnobi (CCC:SHINJA-USD), you’re about to. The SHINJA crypto has been rising steadily since the week began. Today, it looks poised to close off this week on a very high note. While crypto prices plunged earlier this week, and Bitcoin (CCC:BTC-USD) lost 50% of its value, SHINJA just kept climbing. Beyond its impressive gains, this new token has garnered an impressive social media following since its launch. It currently operates on the Ethereum (CCC:ETH-USD), Binance (CCC:BNB-USD) and Polygon (CCC:MATIC-USD) networks.
What’s Happening With SHINJA Crypto
Shibnobi’s volume for the past 24 hours has increased by an impressive 218.17%. As of this writing, its price is up 30% and doesn’t show any signs of slowing down. It’s risen 28.14% on the BTC network and 32.92% on the Ethereum. In fact, every number that we’ve seen so far looks quite promising. The mounting social media traffic has certainly helped, but today there is another reason behind these gains.
Yesterday, Shibnobi’s team announced that as of Jan. 29, the token would be listed on the LBank Exchange. The platform bills itself as “the world’s leading crypto asset trading platform.” Deposits will be enabled as of tomorrow, with trading opening on Jan. 30. This is a significant step forward for a new name on the crypto block. The team announced the news late yesterday with the following tweet:
#SHINJA is very excited to list on @LBank_Exchange 🥷🚀🌐
January 29th 2022 ✅
Are you ready?
Listing details 🔗 https://t.co/hfGsZ0hglJ$SHINJA #Shibnobi #DeFi #Lbank #ShinjaSeason #ToTheMoon #Bullish pic.twitter.com/akTzy0cS6k
— SHIBNOBI (@Shib_nobi) January 28, 2022
Why It Matters
The SHINJA crypto was trending on the social network before this was announced, but since then, traffic has picked up. The token has a digital army that seems to rival that of fellow pupcoins Shiba Inu (CCC:SHIB-USD) and Floki Inu (CCC:FLOKI-USD). As InvestorPlace’s Shrey Dua reports, Shibnobi is still in the first phase of its roadmap, which includes establishing a digital presence through social media strategy. It will also mean the launch of Shibnobi Swap and an “intergalactic mission.” It’s safe to say the social media phase has been successfully executed.
The current growth trend would be in keeping with what we’ve seen from SHINJA this week. As InvestorPlace contributor Chris MacDonald reported yesterday, “listing announcements tend to boost the price of tokens in the near term.” Yesterday, ProBit Global announced it would be listing SHINJA crypto, and as a result, prices continued rising. It seems safe to say that Shibnobi’s team won’t stop here. Prices are rising, and its digital community is excited.
What It Means
With all the hype surrounding the SHINJA crypto, it’s importing to examine the facts. Yes, this token is still very new, having only launched in November 2021. It’s also trading at a very low price point. As InvestorPlace’s Brenden Rearick recently noted, though, “it is quickly gaining a following — and generating returns.” To his way of thinking, that makes it one of the best meme cryptos to buy right now.
We know that meme cryptos are volatile; the pupcoin pack knows this all too well. That said, this token is demonstrating the type of growth that is impossible to ignore. We don’t know for sure how sustainable this growth will prove to be in the long run. However, in the short-term, it is absolutely worth watching.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
