after Bitcoin ETF now also application for an Ether ETF

A new star appears in the firmament of the altcoin sky: SHIBA INU (SHIB) performs like a dream and enters bubble territory. Why you should be careful with hype coins.

The ways of the old season are unfathomable. After Dogecoin (DOGE) has been baffling traders and hodlers for some time, a new meme coin is now on the scene. We are talking about SHIBA INU (SHIB). The coin, which – probably not purely by chance – bears the same mascot as DOGE, draws a chart that could be shown as an exemplary bubble in any economics textbook.

SHIB is currently trading at $ 0.000015. That doesn’t sound like a lot. But if you look at the course performance over the last three days, you get dizzy. The newcomer gained a whopping 1,400 percent in the pump-and-dump market within just three days. On May 7th, SHIB was trading at $ 0.000001. For orientation: A SHIB investment would have increased fifteenfold since Friday.

Does SHIB pumping into bladder territory?

The market capitalization is also moving in the direction of a clear bubble territory. At $ 5.7 billion, SHIB is bigger than some medium-sized companies – and without any kind of use case. The only reason for the price explosion is likely to be the hype surrounding Dogecoin. Driven by declarations of love from Elon Musk, DOGE has been on the rise since the beginning of the year. In the last 30 days alone, DOGE has made up 770 percent.

It is doubtful whether the hype about coins with dogs as a logo throws a good light on the crypto market. After all, the fast money distracts from really solid projects like Bitcoin (BTC), Ethereum (ETH) or Binance Coin (BNB). If one wants to learn from the past bull market, however, there is only one thing left: the faster the bubble inflates, the faster it bursts.