Shiba Toby gains over 2800% today: what is fuelling the current uptrend?

Shiba Toby gains over 2800% today: what is fuelling the current uptrend?

By Charles Thuo - min read

Shiba Toby (SHBT) token has shaken the crypto market today after it started the day with a surge of over 2800%.

At the time of writing, it was trading at $0.0000003226 up 2708.45%, and had hit a high of $0.0000005623 from a low of $0.000000007842 in the last 24 hours.

Now let’s see what the hype is all about.

What Is Shiba Toby (SHBT)?

Before we delve into the current massive Shiba Toby uptrend of, it's important we first explain what Shiba Toby is all about.

Shiba Toby is a Shiba Inu-themed meme coin that is built on Binance Smart Chain with an automatic redistribution reward of 5% for each sell transaction.

According to their whitepaper:

“Shiba Toby is the ultimate all-in-one token, providing the very best in cutting edge coding. We have created a token that rewards like never before.”

It has a Metaverse game that features a simple 2D platform similar to Mario for users to collect coins. Users can check out right now as the game is in beta testing although the rewards are yet to be implemented.

The game plan is to include Breeding NFTs and PVE & PVP battles and much more.

Shiba Toby is also on its way to releasing a collection of NFTs featuring a cute Shiba Inu dog.

Why is Shiba Toby (SHBT) rallying today?

The main reason for today’s Shiba Toby (SHBT) price rally is not yet known.  However, it seems like the rise is originating from a stealth pump for no specific reason. Shiba Toby’s last activity on social media, especially on Twitter, was in January.

Although it has a relatively low market cap of $300k, it is a quite undervalued Meme coin with a minimum viable product, which is its game. The only concern about the SHBT token is its low trading volume especially between January 15th and February 15th although, over the last 24 hours, it has seen a surge of over $148k in trading volume, which is a great sign of long-term coin potential.

SHIBT can easily achieve a valuation of at least $ 1 million if the team continues with Shiba Toby's development and introduces their NFTs into the market.