Another dog-based token joined the wild, becoming worth 80,000USD in under two hours

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Though cryptocurrencies may be volatile given the sudden rise in prices over such a short period of time, many of these tokens can still offer lucrative returns.

For the past few hours, Shih Tzu (SHIH) has been trending. Named after the friendly dog breed originally from China, the token seems to be sharing some of that happiness with investors.

The coin is registering a surge of around 600,000% as shown on Coinmarketcap. It was trading at a price of $0.000000009105 per unit but has now jumped to $0.00005477 within 24 hours. The trading volume has also risen significantly to 65% on exchanges. The token is among the relatively unknown ones that suddenly grew thousands of percent – but nobody knows why. Kokoswap, Ethereum Meta, and ARC Governance are just some of the tokens that exploded for no apparent reason.

Source: https://coinmarketcap.com/currencies/shih-tzu/

A registered company, Shih Tzu is a cross-chain based ecosystem of NFT marketplace, multi-chain wallet and metaverse gaming. We couldn’t find much information about the circulating supply of Shih Tzu, which is pegged at 1 billion SHIH.

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The crypto price rally doesn’t seem sustainable right now. It’s just riding on the NFT and VR gaming momentum, according to Sharat Chandra, who runs the Blockchain & Emerging Tech Evangelist blog.

The website of the token says: “Shih-Tzu token is an ERC-20/BEP20 token built on Ethereum and Binance Smart Chain that focuses on improving the quality of life and happiness of all animals and creatures.” We are an animal-loving company that strives to be part of the solution in protecting animals. You need to get involved too, so be sure to check out our animal rights library for more information.

Our main goal is to help dogs, which is why we are currently supporting rescue initiatives & shelters. We want to make sure that the benefits of our tokenholders can be expanded and associated with Shih-tzu in the future. We are a charity organization that is committed to providing hope for neglected animals. Animals deserve life, love and happiness and we make this happen. It’s for this purpose that we’re raising funds for animal rights initiatives by selling virtual collectibles.”

Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

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