Shiba Inu surges over 45% in two days to reach an all-time high


Shiba Inu (SHIB), a spin-off to Dogecoin (DOGE) token, reached an all-time high following a price surge of more than 46% in just two days. The SHIB/USD trading pair was valued highest at $0.00003941 during press time. The latest price jump of SHIB token is attributed to an ongoing bullish trend from Oct. 15, which helped the cryptocurrency’s value rally by more than 26%. Since Oct. 17, SHIB maintained week-long support at roughly $0.00002796 before resuming to bull run to its all-time high. In the last seven days, Shiba Inu’s market value surged over 50% and currently stands as the 13th biggest cryptocurrency in terms of market capitalization, just three positions away from Dogecoin.Currently, Shiba Inu holds the biggest circulating supply of nearly 395 trillion. Back in September, the Dogecoin-inspired token jumped 40% after Elon Musk, CEO of Tesla, tweeted about the arrival of a new Shiba Inu puppy called Floki.Floki has arrived pic.twitter.com/2MiUKb91FT— Elon Musk (@elonmusk) September 12, 2021

A Cointelegraph analysis from Oct. 18 foresees SHIB token to target the $0.00005200 mark, determined by an expected rebound after the selloff season. Related: Crypto is impossible to destroy, says Tesla CEO Elon MuskThe growth of Dogecoin and Shiba Inu is primarily attributed to support from Tesla CEO Elon Musk. In a recent conference hosted in California, Musk said:“It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement.”Moreover, the entrepreneur believes that the United States government should “do nothing” for regulating cryptocurrencies.

Avatar

Related Articles

- Advertisement -

Latest Articles

bitcoin
Bitcoin (BTC) $ 27,130.27
ethereum
Ethereum (ETH) $ 1,895.04
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 307.23
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.516500
staked-ether
Lido Staked Ether (STETH) $ 1,893.95
cardano
Cardano (ADA) $ 0.376430
dogecoin
Dogecoin (DOGE) $ 0.072260
solana
Solana (SOL) $ 21.25
matic-network
Polygon (MATIC) $ 0.907312
litecoin
Litecoin (LTC) $ 95.03
tron
TRON (TRX) $ 0.076652
polkadot
Polkadot (DOT) $ 5.27
binance-usd
Binance USD (BUSD) $ 1.00
shiba-inu
Shiba Inu (SHIB) $ 0.000008
avalanche-2
Avalanche (AVAX) $ 14.47
dai
Dai (DAI) $ 0.999522
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 27,161.28
uniswap
Uniswap (UNI) $ 5.07
leo-token
LEO Token (LEO) $ 3.60
chainlink
Chainlink (LINK) $ 6.41
cosmos
Cosmos Hub (ATOM) $ 10.59
okb
OKB (OKB) $ 46.20
monero
Monero (XMR) $ 146.09
the-open-network
Toncoin (TON) $ 1.77
ethereum-classic
Ethereum Classic (ETC) $ 18.07
stellar
Stellar (XLM) $ 0.092039
bitcoin-cash
Bitcoin Cash (BCH) $ 114.58
filecoin
Filecoin (FIL) $ 4.96
internet-computer
Internet Computer (ICP) $ 4.84
true-usd
TrueUSD (TUSD) $ 1.00
lido-dao
Lido DAO (LDO) $ 2.31
aptos
Aptos (APT) $ 9.10
quant-network
Quant (QNT) $ 117.97
hedera-hashgraph
Hedera (HBAR) $ 0.051086
arbitrum
Arbitrum (ARB) $ 1.24
crypto-com-chain
Cronos (CRO) $ 0.059562
near
NEAR Protocol (NEAR) $ 1.61
vechain
VeChain (VET) $ 0.020028
the-graph
The Graph (GRT) $ 0.133354
apecoin
ApeCoin (APE) $ 3.11
algorand
Algorand (ALGO) $ 0.151822
the-sandbox
The Sandbox (SAND) $ 0.564621
paxos-standard
Pax Dollar (USDP) $ 0.999896
eos
EOS (EOS) $ 0.906977
edgecoin-2
Edgecoin (EDGT) $ 1.00
frax
Frax (FRAX) $ 0.998994
render-token
Render (RNDR) $ 2.63
elrond-erd-2
MultiversX (EGLD) $ 37.60