Understanding Why Shiba Inu Falls Short Compared to BEFE Coin

The post Understanding Why Shiba Inu Falls Short Compared to BEFE Coin appeared first on Coinpedia Fintech News

After the long, depressing winters of the last two years, crypto is finally on the rise again. The market regained its momentum this year, with investors finally feeling relieved.

However, things are gradually taking a negative turn for Shiba Inu, which has previously proved to be one of the most bullish coins with upward price trends since its launch. But, now Shiba Inu is also facing price saturation.

With the onset of new coins in the ever-volatile crypto market, Shiba Inu is losing its market grip, leading to a decline in its price. The initial hype-based marketing and bubble phase is now near its end, restoring this crypto to its base level price. Hence, the current reality is that investors are careful while investing in Shiba Inu’s $SHIB and similar doggy coins.

After its birth in Aug 2020, Shiba Inu initially gave a 9100,000 % gain for the short term and has made its early investors billionaires, which is in contrast to its current volatile price. Shiba Inu is unlikely to give such record-breaking gains or reach skyrocketing prices shortly unless there is major turmoil in the crypto-verse. Instead, it is more suitable for short-term trading.

Has the Killer Coin lost its Charm?

The market sentiments were highly optimistic regarding Shiba Inu’s price due to a variety of catalysts at play. But the actual outcome was disheartening. Even after the ETF approval, the price of Bitcoin dropped significantly, which led to a drop in the price of Shiba Inu’s SHIB coin and suggested a market bubble. This benefited short-term speculative traders who capitalized on fluctuating prices of Shiba Inu due to changing market sentiments  Furthermore, the high interest rates of Federal reserves add more burden to the already depleting prices of Shiba Inu.

Overall, Shiba Inu is currently experiencing a tough phase, but its price can bounce back if Bitcoin stabilizes and interest declines.

Is BEFE Coin the New Alternative For Shiba Inu?

BEFE is the new meme coin in the crypto market, which captured a daily trade volume of over a whopping $2.3 million within five weeks of launch, as opposed to Shiba Inu’s daily volume of $193 097 during its similar phase. This unparalleled performance is because investors are fascinated by its no-tax on-transaction policy as opposed to Shiba Inu, which charges tax per transaction. This, in turn, leads to a significant increase in the overall price.

Moreover, this coin launched by the visionary BEFE crypto project is available on both Ethereum and Binance networks. This dual chain mechanism adds an extra layer of security and credibility in the volatile crypto scenario. Unlike other meme coins, this newly launched one has high utility value, making it more suitable for new investment. This makes it a better investment option than other meme coins with no real utility, like Shiba Inu, Doggy coin, and many more. It can be used to earn passive income in the form of rewards. This is done via the Bitgert chain by staking its native Brise asset, which provides BEFE in the form of rewards. This further shows its adaptability and multiplicity of usage in the cryptoverse, which helps increase the price of this crypto. Overall, the future sounds promising for this meme coin. Learn more about BEFE coin here – https://befetoken.com