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Shiba Inu (SHIB) Jumps 50% To ATH Amid Robinhood Rumors

Shiba Inu (SHIB), probably the most common meme cash, soared to an all-time excessive for the primary time since May 11. The meme coin reached new heights of $0.00004432 over the weekend. SHIB was up over 50% in simply 24 hours, in accordance 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 presently the thirteenth largest cryptocurrency. It is getting nearer to Dogecoin, which is now in eleventh place with a market cap of $33.86 billion. Both cash, nevertheless, may be fairly unstable.

It is additionally now price greater than Africa’s richest man, Aliko Dangote, who, in accordance to Forbes, is price $13.6 billion.

Shiba Inu Rallies

Shiba Inu’s newest rally may be attributed to an ongoing bullish development that began about two weeks in the past. Since then, Shiba Inu maintained week-long help at roughly $0.000028 earlier than resuming a bull run to its newest file.

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 analysis and technique at crypto alternate 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 worth jumps to $0.000043 | Source: SHIBUSD on TradingView.com

Shiba Inu is a decentralized cryptocurrency created in August 2020 by an nameless individual or individuals often called “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 additionally original after the Japanese canine breed. It is additionally 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 alternate Luno Pte., mentioned in a message Sunday. But “there are some interesting communities being built around them.”

Robinhood Rumors Fueling Rally

There are rumors that crypto buying and selling platform Robinhood is preparing to listing Shiba Inu. According to the latest tweet by a outstanding SHIB Twitter account, Robinhood is perhaps contemplating including the meme coin to the listing of buying and selling property.

There is additionally a petition on Change.org urging Robinhood to listing 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 remark about whether or not or not the corporate would make the itemizing.

Featured picture by Binance Research, Chart from TradingView.com

Source: NewsBTC.com

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