Shiba Inu Coin Price Jumps
The price of the crypto currency shiba inu has surged in recent days. It has risen by 180% over the last seven days and is now the 8th most valuable cryptocurrency in the world, with a value of $42 billion. The crypto currency’s volatility has led to some price fluctuations, and by 1408 GMT it had given up half of its gains. However, it was still up 25% over the past 24 hours.
During the past few days, the Shiba Inu Coin has jumped tenfold after a large purchase. Elon Musk posted a picture of a Shiba Inu puppy with the caption “Floki Frunkpuppy.” This boosted the price of the meme coin by more than 40%. However, the tweet from Musk’s account was later deleted and he confirmed that he does not own the currency.
This move comes on the heels of a massive purchase of SHIB tokens by an investor. A wealthy investor purchased four trillion Shiba Inu tokens for $134 million. Before this massive transaction, the currency had lost two-thirds of its value since its emergence in late October. This news helped the currency to rally by more than 50% in just 24 hours. This is a sign of a major shift in investor sentiment towards cryptocurrencies.
The Shiba Inu Coin Price Jumps
A satirical cryptocurrency called DOGE was launched in 2013 to mock the cryptocurrencies frenzy. In 2013, Elon Musk tweeted a photo of his dog, “Floki Frunkpuppy,” and the coin price soared 400 percent. Its price has since dropped by about half but has risen by one-fourth in 24 hours. So far, this is a great start for the crypto community and for the shiba inu.
Despite its low price, the shiba inu coin is a popular alternative currency. The currency was founded by Elon Musk as a satirical cryptocurrency in 2013. Its price is worth about $42 billion today. While it has little practical use, it has surged by more than forty percent in the last seven days. This is an incredible achievement for a non-technical currency that’s had no practical use.
Currently, the price of shiba inu has risen by 45 percent in the last 24 hours, and has reached a total market value of $42 billion. As of 10 a.m. Eastern Time, the price of shiba inus has given back half of its gains, but is still up a quarter in a day. With the price of bitcoin, it is now the eighth most expensive cryptocurrency.
The price of the Shiba inu coin jumped to a record high this week. The cryptocurrency is one of the most popular cryptocurrencies, with a market cap of $1,200 million. In September, it rose by a whopping 15 percent. Its popularity is based on its decentralized, meme-based system. As a result, the price of the Shiba inu has grown over the last year.
