Shiba Inu set to become 11th-Biggest Crypto Coin; Know why SHIB Is Going Up Again

In a recent update to the cryptocurrency market trend, Shiba Inu will become the 11th-biggest cryptocurrency by market value as it soared to record highs over the weekend. According to the pricing from CoinGecko.com, in the last 24 hours through 7:45 am New York time on Sunday, SHIB was up 50% and reached a record earlier in that hour. 

A petition on Change.org imploring Robinhood has almost 300,000 signatures to list SHIB on its platform. In the past year, the token has received more than 40,500,000%. 

Why is Shiba Inu going up today?

He added that since the investors can still buy more than 20,000 SHIB for $1, lower dollar-price tokens are attractive to retail. 

The SHIB ecosystem has promised other packs are coming soon but has also dropped a number of non-fungible tokens, or NFTs and a page for them says they’re currently sold out. 

He further informed that there are a few interesting communities developed around them.

Shiba Inu price prediction

In 2020, Shiba Inu was founded by an anonymous person going by the name Ryoshi. As per the coni's website, it goes by the phrase, “a decentralized meme token that evolved into a vibrant ecosystem." A cryptocurrency that was created as a joke in 2013, now appears to have been made in the vein of Dogecoin, and also has a Shiba Inu theme. Dogecoin is used for payments by some sports teams, and AMC theatres, and so has become a popular token. 

According to CoinGecko, Dogecoin is also up in the past 24 hours as its market value is about $33 billion, while Shiba Inu’s is around $21 billion. Cheeseman said, “Yes, that’s right, there are two doggy meme coins in the top 10 cryptos excluding stable coins. He added, “Don’t short things Millennials think are funny."

(Image: UNSPLASH)