News Crypto and cryptocurrencies

Shiba Inu, Elon Musk tweets and the token jumps high

Earned 17% within a few hours

"My Shiba Inu will be named Floki ": this simple tweet from Elon Musk to grow SHIB's share price by 17% in the space of a few hours. A real pump and dump which re-proposes the weight of the founder and CEO of Tesla on the market of cryptocurrency. A topic which has been on the agenda for some time now and which obliges analysts, traders and enthusiasts to make a serious reflection.

Shiba Inu Coin OKEx Binance - Shiba Inu, Elon Musk tweets and the token jumps high

Will the next craze be linked to the name of Floki?

To better understand the speech related to Elon Musk, just remember what happened after his message. In the following hours, in fact, they began to appear a large number of tokens linked to Floki's name. Which, incidentally, is the name of a character from a television series, Vikings. Described in the same fiction as an inveterate and, above all, incorrigible cheat.
A trend that has particularly interested Poocoins, a website which is in charge of tracking the prices of different shitcoins. One of these tokens, in particular, saw its price increase by 3500% in a short time., proposing itself as the next catalyst for all those who are willing to exploit the wave triggered by Musk.

An extremely dangerous game

The problem posed by this new trend is to be identified in the fact that the vast majority of these projects have no technical basis on which to rest. It is about pure and simple speculative tokens, however, capable of sensational flare-ups and for this very reason even more dangerous. For those who can guess the right moment to take a position on the market, it can be a big party. On the other hand, those who enter at the moment in which one of them has now reached its peak and is about to begin the retreat, in turn risks the real financial bath.
Precisely for this reason the calls for cautious investment behavior. Tips which, however, seem destined to fall on deaf ears, due to the frenzy caused by these movements. A situation that, however, risks turning out to be a real boomerang for the entire space crypto.

Excessive volatility is not good for cryptocurrencies

As has long been known, financial markets are extremely volatile. A feature which amplifies the dangers for small investors and creates opportunities for the so-called Mani Forti. The cryptocurrency sector, in turn, goes far beyond the fluctuating level of other sectors. With sensational ups and downs in the space of a few hours which, on the one hand create opportunities for the most discerning investors, on the other hand it results in a trap for those less equipped from a technical point of view.
In this context, a very particular role is held by Elon Musk. Whose tweets in support of BTC, Dogecoin and now Shiba Inu, they are seen by many as a real nuisance. So much so that many observers hope that this anomalous situation will cease as soon as possible. As the repetition of fluctuations such as those created by the messages of the billionaire of South African origins, is to the detriment of the entire sector. In particular, giving politics to be able to indicate a danger in digital money not only from an environmental point of view, but also from a financial point of view.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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