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HomeCrypto NewsMarketWhy Shibnobi (SHINJA) Token Soared More Than 123% In Jan Ignoring the...

Why Shibnobi (SHINJA) Token Soared More Than 123% In Jan Ignoring the Global Crypto Market Selloff

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Following Dogecoin (DOGE) and Shiba Inu (SHIB), Shibnobi (SHINJA) is the newly emerged community-driven token that is gathering massive attention of investors these days – especially those who seek a phenomenal return on their investment in a short period.



Why Shibnobi (SHINJA) Token Soared More Than 5367% In January Ignoring the Global Crypto Market Selloff

This newly emerged token is receiving support from the SHIB community, which keeps its price driving up and makes it able to reach all-time high prices (ATH) every week, consistently ignoring the overall widespread selloff in the global crypto market.

Since its launch in November 2021, The SHINJA token price showed eye-popping gains of 600% in December and is now up more than 5367.7% from its earliest known price, and 123% up in January 2022 when the crypto market dumped badly.

Shibnobi (SHINJA) is the token with massive circulating supply of 69,000,000,000,000,000,000,000 i.e., 69 Sextillion.

Despite this vast circulating supply in play, on December 17, SHINJA was able to breach the 1 Billion USD Market Cap for the first time. This marks history as the token achieved this massive milestone of Billion dollar market cap in the period of fewer than 30 days; currently, the price containing almost 13 zeros is standing at $0.0000000000000233.

Following this milestone, the token started gathering investors’ attention, which increased by buying pressure and eventually drove its price to new weekly highs.

James Harvey Kennedy, an American actor, screenwriter, stand-up comedian, and television producer, seems to be a die-hard supporter of this new meme coin in the town. He believes in SHINJA, as they build out a blockchain and the community is insanely interactive and engaged. In one of his tweets, he entitled the SHINJA token as “Cryptos Most Wanted” coin.

SHINJA is also the first token listed on four well-renowned Centralized exchanges in very little time; SHINJA is available for trading on LBank, Bitmart, Hotbit, and ProBit Global.

Following the LBank listing announcement, Shibnobi (SHINJA) team made two announcements back to back; one on January 28 and the other on January 30 via their official Twitter, saying they have taken out 2 Sextillion tokens from circulation forever. In this way, the team said they had burned 45.64% of the total Shibnobi supply.

The token was listed by Hong Kong-based leading exchange LBank on January 29th. Most traders have taken an early position in the token as they believe the token could be the next Dogecoin (DOGE) or Shiba Inu (SHIB) and generate big profits during the next Bull Run.

SHINJA token is new to the market, and the gains are based on hype. Suppose the token can maintain the publicity for an extended period and does not fizzle out. In that case, this token could outperform SHIB or DOGE in the future by considering the recent price action and craze of investors. Moreover, the SHINJA community is also developing fast as the official Twitter handle for Shibnobi reached 91K followers in less than two months.

All crypto users must be extraordinarily cautious and do their research when dealing with meme coins, as the majority are based on hype without any use cases.

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Zabi
Zabi
Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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