GenshinShibInu (GSHIB) is the latest meme coin that gained over 3000% in the past 24 hours. With a 24 hour trading volume of over $1 million, let’s take a closer look at GSHIB and see what all the hype is about.
What Is GenshinShibInu?
GenshibShibInu, or GSHIB, is a Binance Smart Chain token featuring an Artificial Intelligence rebase protocol that adjusts GSHIB’s supply based on market conditions.
Users can also receive rewards in SHIB by holding and staking GSHIB, which is another way to incentivize traders to buy the token.
You can purchase GenshinShibInu on PancakeSwap, by adding the following contract address:
0xc0e39cbac6a5c5cdcdf2c1a1c29cbf5917754943
Why Is GenshinShibInu Price Rising?
GSHIB was only recently listed on PancakeSwap on November 15th. It seems that the hype is due to the recent listing and the price will take some time to stabilize.
The fully diluted market cap of GSHIB is at $38 million, but the true market cap is yet to be defined. Due to GSHIB’s AI rebase protocol, calculating the market cap is not as straightforward as other tokens.
For those that were able to purchase GSHIB within the first hour that the coin went live on PancakeSwap, the rewards are insane. At this point, there’s no telling whether GSHIB’s price will continue to increase, so exercise extreme caution if you’re looking to buy this token.
In my opinion, buying GSHIB right now is akin to gambling, you could double your money in the short term, or you could lose 50% by tomorrow.
Disclosure: This is not trading or investment advice, always do your own research before purchasing any cryptocurrency.
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