Shiba Inu made one of the highest gains in cryptocurrency history when it reached an all-time high of 0.00008854 in October 2021, on the Binance SHIB / USDT chart (crypto prices vary slightly depending on the exchange).
It had opened that month at a price of 0.00000721, so just that month alone was over a 12x gain, 1228% to be precise.
Measured from where it started in 2020, when barely anyone had heard of it, it’s currently still up well over a million percent, according to Coinbase, despite having undergone a 75% correction from its peak.
Anyone that bought over Christmas 2021 or in 2022, however, are currently down on their investment, leading many retail investors to ask – what is the next Shiba Inu?
It is much more profitable to invest in crypto projects early, before the rest of the herd piles in. Dogecoin (DOGE) is a similar story of exponential gains during its bull run, before a protracted bear market – occasionally pumping slightly when Elon Musk tweets about it, but overall trending down.
Could LBLOCK be the next Shiba Inu – Analysis
The native coin of the Lucky Block project, LBLOCK launched trading on Pancakeswap on Jan 26th, 2022. Its current price is $0.0033 with a total supply of 100 billion coins, or 100,000,000,000.
Compared to the total supply of SHIB coins, 589,735,030,408,323, that’s a much lower supply hence the higher price level now, and higher all-time high of $0.0097.
Its phase one presale price was $0.00015 and it opened trading at a price per coin of $0.00020, so its initial bull run was almost a 70x gain.
Pancakeswap is a little known decentralized exchange (DEX), and alongside that the only centralized exchange to list LBLOCK so far is LBank, also not a major crypto exchange.
Debatably then LBLOCK is yet to really have its highest gaining bull cycle, as Shiba Inu didn’t until it was listed on Binance and Coinbase. SHIB’s October 2021 run-up to its all-time high came six months after it was listed on Binance in May 2021. Coinbase listed Shiba Inu in September 2021.
The larger crypto exchanges have much higher liquidity, trading volume and number of users, allowing an altcoin to more easily achieve public awareness, hype and mass adoption.
Looking at the Shiba Inu price chart, the current bull cycle of LBLOCK could fit inside the small upward move in April 2021, just before it was listed on Binance.
According to CEO Scott Ryder in the official Lucky Block Telegram channel and on the Lucky Block website, more exchange listings are expected. The team is currently in talks with Bitfinex and other exchange platforms, alongside preparing to launch their app and NFT collection.
What is Lucky Block?
Lucky Block is a decentralized, Blockchain-enabled crypto lottery platform, that aims to open up lottery gaming to a worldwide audience, free from the restriction of fiat currency, government legislation, and other issues facing lottery gambling.
Since Blockchain is an immutable digital ledger, it can be used to ensure transparency and provably fair odds in gaming – it has already been used for that application in crypto casinos, but a standalone crypto lottery where investors can in a sense own a share of the technology by holding its native token, has not yet been achieved.
If the project’s aim is successful, it could attract mass appeal as holders of the native token LBLOCK receive partial jackpot redistributions from every jackpot draw, according to the whitepaper. The tokens themselves can also be used to play the lottery, and as an incentive for holding, part of all transactions result in a token ‘burn’ which is used to increase the size of the jackpot.
Its use of smart contracts caught the attention of Nasdaq.com who featured it as a ‘crypto bet worth taking’, both high-risk and high-upside due to it being a relative new-comer to the crypto markets.
Altcoins tend to have more than one bull cycle, the second higher than the first, as can be seen on the Shiba Inu price chart. LBLOCK is currently 66% below the first all-time high which it set in February 2022.
It remains to be seen whether LBLOCK still has a 10x gain or higher in its future, similar to the performance of Shiba Inu in late 2021, which would put LBLOCK at a price of $0.03, three cents. It could also take until the end of 2022 for that to play out, as altcoins have long accumulation cycles before breaking out to new highs.
If you’re scanning the crypto markets for the next Shiba Inu, this little-known crypto lottery token may be one to keep on your radar. Just remember to take profits on the way up.