Shiba Inu Token (SHIB) Rises, While the Entire Cryptocurrency Market Falls
Of the first hundred of CoinGecko, only five cryptocurrencies are in the green zone, of which SHIB shows the maximum growth
Oct 27, 2021
1 min read
Anna BakkerNews analyzer

On Wednesday, the 11th cryptocurrency updated all-time highs above $ 0.000059. Growth over the past 7 days is 100%, over the last month - almost 700%.

The capitalization of the token has exceeded $ 28 billion, and soon SHIB may overtake Dogecoin in capitalization - a meme-cryptocurrency for which a new meme was created.

The creators of the Shiba Inu call him the "dogcoin killer". The project's website says that the main task of SHIB is to surpass Elon Musk's favorite cryptocurrency in terms of capitalization.

The Shiba Inu developers say they were inspired by the example of the Reddit community WallStreetBets, whose members were able to "accelerate" the growth of the share price of GameStop, AMC and several other companies.

On Monday, it became known that one of the largest whales of Ethereum bought SHIB for more than $ 11.5 million, although it is still unclear who is behind such a large deal. Purchase confirmed by

The Shiba Inu price began to rise at a time when the issue of token listing received a large number of votes ahead of Robinhood's third quarter financials. The petition for listing the altcoin was signed by over 331 thousand people. At the moment, no decision has been made, writes RBC.

The hype surrounding a possible listing on Robinhood is gaining momentum. Robinhood CEO Vlad Tenev confirmed that the company is carefully studying the possibility of listing new coins.

Despite the fact that Tenev did not directly mention the Shiba Inu, the fans of the project were enough to initiate a new wave of speculative purchases. Earlier it became known that Robinhood reported a drop in trading volumes in the third quarter.

Meanwhile, according to the investment, Robinhood has officially denied listing to SHIB.

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