SHIBA INU coin price on steroids; Rises 40%

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Shiba Inu coin price soars to record highs

Shiba Inu token is among the list of Meme based tokens to become very successful in the cryptocurrency market today. Just like its counterpart dogecoin, which made a dramatic rise of over 7000% in 1 year, between 2020 to the 2nd quarter of 2021. This meme-based token which is a community-controlled crypto project on the Ethereum blockchain has climbed up the market capitalization ladder to become the 14th token on the market capitalization list. Over the last year, the price has made an almost 1000% increase, which goes to show the massive success this meme-based token is currently enjoying.

According to the chart data on trading view at 11:18 UTC on October 24th, 2021, Shiba Inu’s price reached its new highs at $0.00004440.

The token aim is to become an Ethereum based alternative to Dogecoin (DOGE), the popular meme coin. Also, the token is the direct opposite of the ‘BITCOIN’ as the token is created to be in abundance unlike the BITCOIN which is scarce, this reflects in the amount of the SHIB token currently in circulation which stands at 1 quadrillion.

This new record high price has also been aided by inflows of $4.64 billion between October 23rd and October 24th taking the total amount invested in the token from $11.02 billion to $15.66 billion. This surge in the capital injection can also be understood as SHIB recorded a massive addition of new users, as of October 18, the token had about 40,000 new holders in just ten days.

The recent pump can also be attributed to the listing of the Shiba inu (SHIB) token on the Public.com trading platform adding the cryptocurrency asset to their list of supported cryptocurrencies. This was announced by the retail investment platform Public.com on Wednesday via ‘Twitter’. This means they were a step ahead of their major competitor ‘Robinhood’ another popular retail investment platform.

This goes to show how much popularity the meme-based token has gathered. Another major event we might be looking at which can further push the price of the token is the community users’ request for the token to be listed on ‘Robinhood’. SHIB fans are looking for more means to invest in the coin which has made them start campaigning for a listing of the token on the Robinhood platform.

The platform has also given a look-like positive response as they sent emails to their users on their preference of SHIBA INU among other cryptocurrencies. Shiba-Inu token has a lot of ongoing and upcoming projects which means the coin is likely to keep experiencing a lot of growth over a period of time anyways let us keep our fingers crossed, the cryptocurrency industry is becoming a lot more interesting.

Check out the top five cryptos for the week.

Where to buy SHIBA INU

  1. Coinbase
  2. Binance
  3. flitaa (Nigeria and Kenya)

Follow kudicast on Twitter.

shiba inu coin price rises astronomically
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