Amid Bitcoin crash, Dog-themed Alien Shiba Inu (ASHIB) turns Rs 1 lakh to Rs 20 lakh in 24 hours!

Bitcoin crash: The price of Alien Shiba Inu (ASHIB) has pumped 1900% in 24 hours.

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The cryptocurrency market is full of uncertainties. Probably no one can predict, or even logically guess, how the price of a particular coin may move. Generally, it has been witnessed that whenever the price of Bitcoin falls, a relative fall in prices of other popular crypto tokens also takes place. However, even in such situations, there is always a little known coin that bucks the trend.

Consider this: The price of a coin named Alien Shiba Inu (ASHIB) has increased by 1900% in 24 hours, according to CoinMarketCap data at the time of writing this report. This means, if a person had invested Rs 1 lakh in ASHIB, it would have grown to Rs 20 lakh in a day! ASHIB is targetting investors who may have missed the bull run of famous dog-themed coins like SHIBA Inu (SHIB).

ALSO READ | Bitcoin crash: Why are cryptocurrency prices falling in New Year?

ASHIB Price Today

ASHIB was trading at $0.0075 at the time of filing this report. As per the CoinmarketCap website, ASHIB has a maximum supply of 10 crore coins.

Should you invest in ASHIB?

Beware, if you are thinking to make money from the ASHIB rally. There are several reasons. First, very little information is available about this coin. Second, it is ranked 3356 in terms of market capitalisation. No crypto expert would ever advise you to risk your money in such a lowly ranked coin. Third, it is not available on popular exchanges, and certainly not on any Indian crypto exchange.

ASHIB price change in 24 hours. Source: CoinMarketCap

What about DOGE and SHIB

Meanwhile, the prices of much-higher ranked dog-themes coins like SHIBA Inu (SHIB) and Dogecoin (DOGE) have been falling since the start of the new year. SHIBA Inu price has fallen to $ 0.00002828 from $0.00003401 on January 2nd 2022. SHIB is ranked 13th in terms of market capitalisation. The price of 12th ranked Dogecoin (DOGE) has come down to $0.1501 from $0.173 on 2nd January 2020.

ALSO READ | Managing Cryptocurrency: What should investors do in a volatile market amid policy uncertainty?

Bitcoin crash: BTC, ETH Price Today

Since the start of the New Year, what has worried crypto investors the most is the falling price of Bitcoin and other top coins like Ethereum. On Sunday (January 9th), Bitcoin was trading at $41,560 after falling 12.15% in the last 7 days. Ethereum was trading at $3101, falling 17.35% in the last seven days.

(Cryptocurrencies are unregulated and risky assets. Investing in crypto may lead to losses. Doe proper due diligence and consult your financial advisor before investing in cryptocurrencies.)

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First published on: 09-01-2022 at 16:40 IST