Thursday, December 9, 2021

Shiba Inu surpasses Doge, now ninth most valuable cryptocurrency

The joke coin, trading as $SHIB, currently has a market cap of $33,341,942,612.

• October 27, 2021

Meme-inspired Cryptocurrency coin, Shiba Inu, has grown in market value in the last 24 hours, now trading as the fourth most-traded token.

Coingecko recorded Shiba Inu transactions worth $23,648,150,346 in the past day while USDT traded $100,799,560,865, Bitcoin traded $43,837,580,304 and Ethereum traded $29,678,957,350.

The joke coin, trading as $SHIB, currently has a market cap of $33,341,942,612. 

Peoples Gazette had earlier reported the coin’s bullish run, attributing its rise in value to pressure on Robinhood Markets Inc. from crypto traders to add the coin to its platform. A petition was created on Change.org asking Robinhood to list Shiba Inu.

The report noted that 79 per cent worth of SHIB  traded globally were in the hands of  large holders or ‘whales’. Coingecko said the coin’s latest run has seen large wallet holders accumulate even more of the currency. 

In September, Shiba Inu coin was listed on Coinbase for the first time, with its price increasing by 34 per cent after it was listed on the crypto exchange platform. 

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