Shiba Inu surges over 45% in two days to reach an all-time high
source link: https://www.hodlalert.com/2021/10/24/shiba-inu-surges-over-45-in-two-days-to-reach-an-all-time-high/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
The latest price jump of SHIB token is attributed to an ongoing bullish trend from Oct. 15, which was followed by a week-long support at roughly $0.00002796.
Shiba Inu (SHIB), a spin-off to Dogecoin (DOGE) token, reached an all-time high following a price surge of more than 46% in just two days. The SHIB/USD trading pair was valued highest at $0.00003941 during press time.
The latest price jump of SHIB token is attributed to an ongoing bullish trend from Oct. 15, which helped the cryptocurrency’s value rally by more than 26%. Since Oct. 17, SHIB maintained week-long support at roughly $0.00002796 before resuming to bull run to its all-time high.
In the last seven days, Shiba Inu’s market value surged over 50% and currently stands as the 13th biggest cryptocurrency in terms of market capitalization, just three positions away from Dogecoin.
Currently, Shiba Inu holds the biggest circulating supply of nearly 395 trillion. Back in September, the Dogecoin-inspired token jumped 40% after Elon Musk, CEO of Tesla, tweeted about the arrival of a new Shiba Inu puppy called Floki.
Floki has arrived pic.twitter.com/2MiUKb91FT
— Elon Musk (@elonmusk) September 12, 2021
A Cointelegraph analysis from Oct. 18 foresees SHIB token to target the $0.00005200 mark, determined by an expected rebound after the selloff season.
Related: Crypto is impossible to destroy, says Tesla CEO Elon Musk
The growth of Dogecoin and Shiba Inu is primarily attributed to support from Tesla CEO Elon Musk. In a recent conference hosted in California, Musk said:
“It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement.”
Moreover, the entrepreneur believes that the United States government should “do nothing” for regulating cryptocurrencies.
Recommend
-
8
Ethereum Searches Reach All Time High – TrustnodesEthereum Searches Reach All Time High – TrustnodesSearches for ethereum have reached all time high for the first time in more than three years as interest in the world computer increases....
-
6
June 29, 2021 ...
-
6
China semiconductor output reach all time high in June- PingWestChina semiconductor output reach all time high in June July 15, 2021 11:37 pm In June, the production volume of integrated circuits in China amounted to 30.8 billion units...
-
11
October 21, 2021
-
8
Surge warning — Feds may expand 2nd boosters to all adults as anxiety surges over BA.5 wave Booster expansion could come within 2 weeks and wouldn't preclude fall booster.
-
4
Nigeria Inflation Surges to Over 18% in June 2022 – The Highest in 5 Years For the 6th successive month, Nigeria monthly inflation increased, go...
-
9
Bitcoin’s mining difficulty is set to reach all-time high August 29, 2022 ...
-
3
-
6
-
3
Bitcoin Surges: Largest Spike in Transactions Over $100,000 in Two YearsBitcoin surges in high-value transactions, and ETF approval suspense heightens market dynamics.
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK