Alien Shiba Inu saw a bull run on Sunday that surged its value to over 26 times its previous price. Here is what the latest trend in the crypto world is all about.
HIGHLIGHTS
- Alien Shiba Inu recorded a bull run on Sunday.
- The coin grew to USD 0.009869 from a previous average of around USD 0.000376.
- The crypto coin is based on Binance Smart Chain.
Every now and then, the world of cryptocurrencies sees a rising star that breaks all records of value surge, irrespective of the way the rest of the market is acting. Case in point, a new crypto coin that plays on the popularity of Shiba Inu, skyrocketed to new highs on Sunday, amid a glooming crypto market that saw all major cryptocurrencies like Bitcoin and Ethereum fall.
Alien Shiba Inu or ASHIB is the new talk of the town after the crypto coin saw a wave of interest boost its price to over 26 times its previous value. In numbers, this means that an investment of Rs 1 lakh in Alien Shiba Inu on Saturday would have given you a return of over Rs 26 lakh by Sunday noon.
As can be noted by its name, the coin is a gimmick that plays on the popularity of Shiba Inu. Through Alien Shiba Inu, its developers seemingly want to offer a chance to investors who missed out on the bull run of Shiba Inu. It uses the tagline “The Alien Invasion is Finally Here!” and recently had the TikTok sensation Island Boys dedicate a song to it.
As per data recorded by CoinMarketCap, the price of Alien Shiba Inu turned to an all-time high of USD 0.009869 on Sunday noon. While it seems to be a meagre amount, know that the average price of the coin before the surge was around USD 0.000376. This means that investors who were involved with the crypto coin prior to the surge have had massive gains on the bygone weekend.
Such gains are often seen in the world of cryptocurrency, especially with new tokens and coins that are starting out. Alien Shiba Inu is one such example. Its bull run was cut short within hours and it now trades at around USD 0.0025.
The coin is ranked around 3,000 on CoinMarketCap, and does not have data for its market cap and circulating supply available. The index does note though, that there will be a maximum supply of 100 million ASHIB coins.
More official information on the coin is shared via its single-page website. It mentions that the team behind the coin is working on “three flagship utility projects.” These include a collection of NFT characters for play to earn gaming, a decentralized exchange (DEX) as well as a merchandise marketplace called AlienShibaInuCrew.
The coin is based on Binance Smart Chain and was launched in November last year. It now trades on PancakeSwap and eyes a listing on other exchanges going forward. Till then, the developers have planned several marketing campaigns, including an airdrop for the meme coin.
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