Shiba Inu (SHIB) becomes 11th largest cryptocurrency
Cryptocurrency : Cryptocurrency Shiba Inu (SHIB), a meme coin named after the Japanese dog breed Shiba Inu, jumped 50% to a record high and was trading at $0.0000423 on Sunday. It became the 11th largest cryptocurrency by market value after Bitcoin, Ethereum, Binance Coin, Cardano, Tether, Solana, XRP, Polkadot, Dogecoin and USD Coin. SHIB has gained over 40,500,000% in the past year.
Shiba Inu (SHIB) becomes 11th largest cryptocurrency
Meanwhile, a petition on Change.org implored Robinhood to list SHIB on its platform. It garnered almost 3 lakh signatures. This led to speculation that the platform may consider the request.
Manoj Dalmia, founder and director, Proassetz Exchange, said that meme coins/tokens and the whole world is on the edge of their seats with the recent bull run in Crypto space. Global exchanges are listing Doge and Shiba Inu that are capturing all the eyes due to the recent price growth.
"The new edge investment class of Crypto assets has performed miraculously with a profit performance of more than 1000% in last 1 year. Coins and tokens with rock hard fundamentals are still promising for further growth. Bitcoin, Ethereum, Cardano, etc have already become the most worthy candidates of the Crypto industry," he said.
Musk tweeted the Shiba Inu photograph on October 18, when the token was trading at $0.000026 (Rs. 0.0020). His tweet pushed the coin to gradually gain in value. On Saturday, it was trading around $0.000027. In the next 24 hours, it was up nearly 50 per cent to reach a high of $0.000044 (Rs. 0.0033), according to CoinMarketCap.
Piyush Verma
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