Event:
Another drama is unfolding in the memecoin market. The $SHIB token on the Base network has shown explosive growth, jumping by a staggering 47% in the last 24 hours. This event has caused a storm of discussions on social networks and attracted the attention of both seasoned traders and newbies hoping for quick profits. The asset’s capitalization quickly reached the $5.7 million mark, which is a significant figure for a new token in such a short period of time. However, there is an extremely interesting and controversial background behind this surge.
Discussion of the pump:
The reason for such a sharp rise in $SHIB (Base) has nothing to do with fundamental values or technological breakthroughs. This entire impressive pump owes exclusively to a clever marketing ploy and a striking similarity of the name to the giant of the memecoin world - $SHIBA. The development team has done a great job of making inexperienced investors have a strong impression that they are looking at the same legendary token, but launched on the new and trendy Base network. This game of associations has proven incredibly effective in attracting attention and liquidity.
The $SHIB Team:
Analyzing all the actions of the creators, our analysts note their creativity in terms of attracting initial attention. By choosing such a name, they have shown a promising vision of the psychology of the masses. However, that is where it all ends. After the launch and the initial surge, the team does not take any tangible, that is, tangible and sensible actions to consolidate the result and continue the pump. The lack of a clear development plan, utility functions for the token and competent marketing puts their long-term prospects in great question.
Future analytics:
We believe that in the short term, the token is likely to experience continued volatility and potential growth. The pump has gained significant excitement within the crypto community, especially among those looking for quick profits on the wave of hype. As long as interest remains and new buyers continue to pour in, the pressure from buyers can push the price up. However, it is extremely important to understand that this movement is built solely on emotions, and not on fundamentals.
Conclusion:
The $SHIB (Base) memecoin is a classic example of a high-risk asset whose value is 100% dependent on market hype, artificially fueled by a successful (albeit misleading) name. Short-term growth is possible, but investors should be extremely careful. Such assets often turn out to be soap bubbles that burst as quickly as they inflate. By investing in this, you are gambling, not investing. For more information about the token, you can look at its contract - 0xFCa95aeb5bF44aE355806A5ad14659c940dC6BF7
We continue to monitor the developments around $SHIB.
This article is not financial advice!
