Bloomberg Strategist: SHIB succeeds in design, but risk averse traders could strengthen Bitcoin's position

On October 29, Michael McGlone, Bloomberg's chief commodities strategist, tweeted that Shiba Inu was "a Dogecoin impersonator" and that "there is a brilliance in the development and commercialization of NGU technology." However, he likes to believe that since SHIB is a valuable meme currency, the risk aversion of traders will be able to control the cryptocurrency market, making Bitcoin stronger than ever today. McGlone also released a statement in which the SHIB price curve is as important as the rise in Ethereum, calling Ethereum a "Shiba Inu consultant." (U. Today)