Shibnobi Crypto News: 2 Big Things SHINJA Holders Are Watching Today

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One of the best performing cryptocurrencies today is the little known Shibnobi (CCC:SHINJA-USD). Today, some crypto news from Shibnobi propelled this token over 50% higher at its peak, and over 30% higher at the time of writing. As a meme token, more news feeds are usually a good thing. Additionally, the return of risk sentiment in the crypto world is once again causing investors to think about potential gains rather than losses.

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We recently flagged the SHINJA token as a big move last week. Investors looking for something exciting turned to this project. Similar to other Shiba Inu inspired tokens, Shibnobi traded in a very volatile fashion. However, today’s rise has helped this token to new one-month highs.

Let’s dive into the two main catalysts that investors are watching with this token today.

What is the news behind the rise of Shibnobi Crypto today?

Two distinct catalysts appear to be driving the crypto SHINJA higher today. Perhaps the main catalyst for the rise of this meme token today is a new listing on the exchange. ProBit Global announced yesterday that it will list the SHINJA token for trading. This was followed by a tweet last night announcing that the SHINJA-USDT pair would be open for trading.

Listing announcements tend to increase the price of tokens in the short term. This is the result of both increased liquidity and increased focus on a given token. It is also generally seen as a validation of the underlying value of a crypto. Accordingly, for Shibnobi, this is a big problem.

5️⃣0️⃣0️⃣0️⃣0️⃣ HOLDERS‼️🥷

We would like to thank all members of the #shibnobi family! We truly have the best community. ❤️

We’re going to burn 1 sextillion #SHINJA tokens!👀🔥🔥🔥

Remember this is just the beginning… It’s #ShinjaSeason pic.twitter.com/IoFbf7qpSm

— Shibnobi (@Shib_nobi) January 26, 2022

Additionally, Shibnobi announced on Twitter that the network would be burning 1 sextillion tokens, alongside a celebratory GIF. Clearly, an increase in investor interest combined with a token burn provides an intriguing short-term investment thesis. This further reignited speculative interest in this token during the afternoon trading hours.

As of the date of publication, Chris MacDonald had (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.

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