ALERT! Shiba Inu SURGED by CoinMarketCap | SHIB Coin Price Prediction 2021 – Shiba Inu News Today #SHIBA #shibainu #SHIBA
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Shiba Inu coin soars more than 30% on Coinbase debut.
Shiba Inu, the China-based meme coin that looks to follow in the paw prints of Dogecoin, spiked more than 34% Friday after it began trading on Coinbase.
The coin’s market cap jumped from $2.3 billion to nearly $3.5 billion in less than 24 hours, according to CoinMarketCap. That’s an impressive jump, but the individual coins have a long way to go before they’re at any notable level.
A single Shiba Inu coin was trading for 0.00000879 dollars as of 10:22 a.m. ET. Put another way: You’d need to buy 1,138 of them for your investment to be worth more than a penny. (Of course, should Shiba Inu follow the path blazed by Dogecoin, that could make some investors a lot of money.)
Shiba Inu, trading under the ticker Shib, is now the 47th largest crypto in the world. (Bitcoin, of course, is first, and Dogecoin comes in ninth.)
Elon Musk, who is (in part) responsible for the surge in Dogecoin prices earlier this year, has seemingly given his blessing to Shiba Inu: Earlier this week he tweeted a picture of his new Shiba Inu puppy named Floki. (Prices surged 40% on that tweet alone.)
Dogecoin saw a slight bump as Shiba Inu enthusiasm spread, rising a bit more than 2% in early trading Friday.
Experts say that the popularity of Shib should not be ignored, since it reflects the behaviors of a new, growing class of cryptocurrency traders.
Rather than simply dismissing the hype outright, it’s important to realize that what we’re seeing is the mass movement of traders new to crypto moving into the space, Ben Caselin, head of research and strategy at cryptocurrency exchange AAX, told Fortune in May.
Shiba Inu Rebounds After Sell-Off.
Shiba Inu is trying to settle back above 0.000007 dollars while Bitcoin is testing the resistance level at $42,600.
The world’s leading cryptocurrency has recently made an attempt to settle below the psychologically important support level at $40,000 but lost momentum and moved back to the resistance at $42,600. In case the test of the resistance at $42,600 is successful, Bitcoin will head towards the next resistance at $44,000 which will be bullish for the whole crypto market, including Shiba Inu.
Other cryptocurrencies are also gaining ground today. Ethereum is trying to get to the test of the resistance level at $3,000. Dogecoin has recently managed to get back above $0.21 while XRP is trying to settle above the resistance at $0.95.
Shiba Inu Trending.
Shiba Inu has gained increasing popularity on social media. The dominance of the meme coin on Twitter has increased over the past eight weeks.
Shiba Inu crosses 900,000 followers on Twitter, becomes one of the most popular cryptocurrencies
Shiba Inu, started as a meme token, gained popularity as a Dogecoin killer. The token now has a market capitalization of $3.5 billion and announced earlier today that it crossed 900,000 followers on Twitter.
Shiba Inu has now overtaken other cryptocurrencies in the top ten, including Solana, Polkadot, and Uniswap, in social media dominance. The Shib community is now anticipating the listing of the meme token on Robinhood, the commission-free exchange.
The petition for the token’s listing has now received 184,700 signatures from the community.
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