Shiba Inu in the Top 10 Crypto! SHIB price jumped more than 50% – Coinpedia – Fintech & Cryptocurreny News Media

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On October 24, cryptocurrency values ​​remained a combination of green and red. While BTC strives to stay above $ 6,000, ETH has been relatively bullish as it is up 2.2%. The other best coins, ADA, SOL, XRP and DOT trade in red. In the midst of this slaughter, the game is Shiba Inu, the same crypto has just hit an all-time high.

Shiba Inu (SHIB), a Dogecoin derivative token (DOGE), hit an all-time high after a 46% price increase in just two days. At the time of publication, the SHIB / USD trading pair was trading at $ 0.00003941.

The recent increase in the price of the SHIB token can be attributed to an ongoing uptrend that began on October 15 and helped the value of the cryptocurrency rise by over 26%. SHIB has maintained a week’s support at around $ 0.00002796 since Oct. 17 before starting its bull run to its all-time high.

The market value of Shiba Inu has increased by over 50% over the past seven days, and it is now the 13th largest cryptocurrency by market cap, just three places below Dogecoin. Shiba Inu now has the highest amount in circulation of nearly 395 trillion coins. .

Catalyst behind the SHIB price rally

The Dogecoin-inspired token rose 40% in September when Tesla CEO Elon Musk tweeted about the birth of a new Shiba Inu dog named Floki.

Over the past week, Shiba Inu price activity has consolidated into a narrower range. After a robust gain in early October that sent SHIB / USD to a new all-time high of $ 0.000035, the pair began to consolidate with a regression to $ 0.00002.

Over the past few weeks, SHIB / USD has hit several lower highs and lows, eventually settling below $ 0.00003. Shiba Inu has traded sideways below resistance for most of this week, indicating a possible rise later this week.

Shiba Inu finally crossed the mark yesterday, quickly hitting the previous record high of $ 0.000035. After a brief pause, the previous all-time high was broken overnight, bringing SHIB / USD to its current level of $ 0.0.

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