Shiba Inu (SHIB) Jumps 50% To ATH Amid Robinhood Rumors
October 24 2021 - 2:00PM
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Shiba Inu (SHIB), one of the most popular meme coins, soared to an
all-time high for the first time since May 11. The meme coin
reached new heights of $0.00004432 over the weekend. SHIB was up
over 50% in just 24 hours, according to the pricing
from CoinGecko. Related Reading | Shiba Inu Outranks
Chainlink And Takes Place In Top 15 Crypto-Assets With a market cap
of $21.4 billion, Shiba Inu is currently the 13th biggest
cryptocurrency. It is getting closer to Dogecoin, which is now in
11th place with a market cap of $33.86 billion. Both coins,
however, can be quite volatile. It is also now worth more than
Africa’s richest man, Aliko Dangote, who, according to Forbes, is
worth $13.6 billion. Shiba Inu Rallies Shiba Inu’s latest rally can
be attributed to an ongoing bullish trend that started about two
weeks ago. Since then, Shiba Inu maintained week-long support at
approximately $0.000028 before resuming a bull run to its latest
record. Related Reading | Why Shiba Inu (SHIB) Rallied 266%
Following Biggest Dump In Its History “At this moment attention
seems to have converged on SHIB and speculation is the primary
driver of the price surge,” Ben Caselin, head of research and
strategy at crypto exchange AAX, said on Sunday to Bloomberg.
“Prior patterns and dynamics in crypto indicate that SHIB is likely
to be challenged by other projects and shed much of its value
further along in the market cycle,” he added. SHIB price jumps to
$0.000043 | Source: SHIBUSD on TradingView.com Shiba Inu is a
decentralized cryptocurrency created in August 2020 by an
anonymous person or persons known as “Ryoshi”. The coin’s website
refers to it as “a decentralized meme token that evolved into a
vibrant ecosystem.” It was modeled off Dogecoin, which is also
fashioned after the Japanese dog breed. It is also dubbed the
“Dogecoin Killer.” “With such meme coins it’s hard to speculate on
the actual reasons for price movements, in all honesty,” Vijay
Ayyar, head of Asia-Pacific with crypto exchange Luno Pte., said in
a message Sunday. But “there are some interesting communities being
built around them.” Robinhood Rumors Fueling Rally There are rumors
that crypto trading platform Robinhood is getting ready to list
Shiba Inu. According to the recent tweet by a prominent SHIB
Twitter account, Robinhood might be considering adding the meme
coin to the list of trading assets. There is also
a petition on Change.org urging Robinhood to list SHIB on
its platform, and it has over 300,000 signatures. During
his interview with CNBC earlier this week, Robinhood CEO
Vladimir Tenev reportedly refused to comment about whether or not
the company would make the listing. Featured image by Binance
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