Key Takeaways:
- Saudi Shiba Inu jumps 170% in a day.
- A trading volume surge after an NFT collection presale announcement.
- What is the project all about?
YEREVAN (CoinChapter.com) – Saudi Shiba Inu (SAUDISHIB), another Shiba Inu spawned meme coin, outperformed its competitors on Aug 29, advancing over 170% in a day. as a result, the token’s exchange rate reached $2.32.
The rally subsided half an hour after dropping to $2,043 e-9, continuing the regression through the European session. Meanwhile, the main reason behind the surge was a trading volume boost, which jumped from $33,000 on Aug 28 to over $6 million on Aug 29.
So, why did the trading volume surge?
Saudi Shiba Inu NFT collection
On Aug 27, Saudi Shiba Inu tweeted about the new NFT collection going live on OpenSea. “The minting is live,” said the tweet, and the collection included 46 NFTs as of Aug 29. So the total number of potential Saudi Shiba NFTs will be 5,555, per the OpenSea announcement.
5555 Saudi Shibas would like to find a master and a home! They will thank you with many great rewards, from which you as the owner will benefit greatly!
said the announcement.
Also read: Did Avalanche (AVAX) backer Ava Labs pay lawyers to sue competitors? CEO dismisses rumors.
The minting options include several apparel choices, such as glasses, headdresses, fur color, eyes, etc.
What is special about the token?
The canine-inspired altcoin is a token that hit the market in late July and ranked #2735 on coin tracker CoinMarketCap. “The Saudis will buy a lot of Shiba Inu and Bitcoins, and hence we decided to make the official Saudi version of Shiba Inu hence the name Saudi Shiba Inu,” reads the website.
Meanwhile, the whitepaper warns potential investors that the information within the document is subject to change. Additionally, the absence of any legal check could alarm some users.
The whitepaper has not been examined or approved by any regulatory authority or legal firm. All information in this whitepaper is not subject to any law, and cannot be taken under any regulatory or legal authority or any rules of jurisdiction.
reads the document.
The project claims that it strives to avoid messy price fluctuations, unlike other projects heavily dedicated to farming and liquidity pool acquisitions. However, the reality doesn’t match the claim, as the price has seen a choppy performance in the past month.
