Bitcoin crash: The price of Alien Shiba Inu (ASHIB) is up 1900% in 24 hours.
The cryptocurrency market is full of doubts. Perhaps no one can predict, or even logically guess, how the price of a particular currency might move. In general, it has been observed that as the price of Bitcoin falls, a relative decrease in the price of other popular crypto-tokens also occurs. However, even in such cases, there is always an unknown coin that goes against this trend.
Consider this: The price of a coin called Alien Shiba Inu (ASHIB) is up 1900% in 24 hours, according to CoinMarketCap data at the time of writing. This means, if a person invested Rs 1 lakh in ASHIB, it would have grown to Rs 20,000 in one day! ASHIB targets investors who may have missed out on the revolutionary race for popular dog-themed coins such as the SHIBA Inu (SHIB).
Read also | Bitcoin crash: Why are cryptocurrency prices dropping in the new year?
ASHIB price today
ASHIB was trading at $0.0075 at the time of this report. According to the CoinmarketCap website, the maximum supply of ASHIB is Rs 10 crore.
Should you invest in ASHIB?
Beware, if you are thinking of making money from the ASHIB rally. there are many reasons. First, very little information is available about this coin. Second, it is ranked 3356 by market capitalization. No crypto expert will ever advise you to risk your money in such a low rated currency. Third, it is not available on popular exchanges, and certainly not on any Indian crypto exchange.
What about DOGE and SHIB
Meanwhile, higher-rated canine coins such as SHIBA Inu (SHIB) and Dogecoin (DOGE) have been declining since the start of the new year. The price of SHIBA Inu has decreased to $0.00002828 from $0.00003401 on January 2, 2022. SHIB is ranked 13th by market capitalization. The price of Dogecoin (DOGE), ranked 12th, fell to $0.1501 from $0.173 on January 2, 2020.
Read also | Cryptocurrency Management: What should investors do in a volatile market amid policy uncertainty?
Bitcoin crash: BTC and ETH price today
Since the start of the new year, the biggest concern for cryptocurrency investors has been the drop in the price of Bitcoin and other currencies like Ethereum. On Sunday (January 9), Bitcoin was trading at $41,560 after dropping 12.15% in the past seven days. Ethereum was trading at $3,101, down 17.35% in the past seven days.
(Cryptocurrencies are unregulated and risky assets. Investing in cryptocurrencies can lead to losses. Do your due diligence and consult your financial advisor before investing in cryptocurrencies.)
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