Shiba Inu zooms in to reach new heights, becomes 11th largest crypto coin

[ad_1]

Shiba Inu jumped nearly 40% last month after US company Coinbase said its customers could trade, send, receive or store SHIB on its platform.

Shiba Inu hit record highs over the weekend to become the 11th largest cryptocurrency by market value. According to prices from CoinGecko.com, Shiba Inu, also known as SHIB, rose 50% within 24 hours until 10:10 a.m. New York time on Sunday and hit a record high earlier today. .

Shiba Inu jumped nearly 40% last month after US company Coinbase said its customers could exchange, send, receive or store SHIB on its platform.

Shiba Inu leads India’s WazirX exchange in terms of volume, with Tether and Bitcoin trailing second and third respectively, according to Money Control.

Shiba Inu, whose website refers to it as “a decentralized meme token that has evolved into a vibrant ecosystem,” was founded in 2020 by an anonymous person named Ryoshi.

It appears to have been made in the vein of Dogecoin, a cryptocurrency that was created as a joke in 2013. It also has a Shiba Inu theme after the Japanese dog breed of the same name.

Dogecoin has since become a popular token and is used for payments by some sports teams, AMC theaters and others.

Dogecoin has also gained in the past 24 hours, according to CoinGecko. His market value is around $ 34 billion, while that of Shiba Inu is around $ 21 billion.

Receive our daily news capsule

Subscribe

Thank you for subscribing to our Daily News Capsule newsletter.

Close story

[ad_2]