SHIB Crypto Alert: What Is the eToro Shiba Inu Speculation Sending Fans Barking?

Shiba Inu (SHIB-USD) has had a roller coaster start to the week after eToro gave its namesake pup a surprising shout out. Indeed, on Super Bowl Sunday, eToro aired a new commercial. Fans of the SHIB crypto were surely wagging their tails watching eToro’s Big Game Ad, which featured a surprise appearance from a Shiba Inu dog.

A concept token for the Shiba Inu (SHIB) crypto with sparkling lights in the background.

Source: Shutterstock

So what do you need to know?

Alongside platforms like Coinbase (NASDAQ:COIN), Crypto.com and FTXeToro debuted a Super Bowl crypto ad.

The dream-like commercial follows a man posting questions about how to start investing. After garnering community support, the man ends up joining the crowd in a skyward journey “to the moon.”

In addition to the touching, flying community is a brief snap of a Shiba Inu dog. The Shiba Inu has been something of a celebrity breed ever since a growing number of meme cryptos adopted the dog as a mascot. For the SHIB crypto, this commercial has become something of a rallying cry.

SHIB Crypto Experiences Volatility Following eToro Ad

Despite such a strong showing from crypto platforms on Sunday, many of the largest coins by market capitalization are down today.

Included in the red is SHIB. Shiba Inu is down just more than 4% over the last 24 hours, and trading volume is down 22%.

This is not entirely out of the usual, as Shiba Inu is no stranger to volatility. The meme token had a fairly subdued existence, that is, until it, “went to the moon.” In the past year, the crypto has jumped to unprecedented highs on a number of occasions. While never reaching the 1-cent threshold, the token has seen its value grow by thousands of percent during its bullish run ups.

So what does this mean for investors? The Super Bowl crypto ad may not have brought huge gains for the SHIB crypto, but Shiba Inu remains in the spotlight. That means the token very well could go to the moon again soon.

On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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