Dogecoin’s spin-off token, the Shiba Inu (SHIB), hit a record high with a price increase of over 46% in just two days. At the time of writing, the highest price for the SHIB / USD trading pair was $ 0.00003941.
The price increase of SHIB tokens this time is a continuation of the bullish trend that has continued since October 15. Since October 17, SHIB has resumed a bullish move to a record high after maintaining support for a week at around $ 0.00002796.
In the last seven days, the Shiba Inu has skyrocketed by more than 50% and is now the 13th largest cryptocurrency by market capitalization. The difference with Dogecoin is only 3rd.
Currently, Shiba Inu holds about 395 trillion tokens, which is the largest distribution supply. In September, Tesla CEO Elon Musk tweeted that he had a new Shiba Inu puppy, Froki, which caused SHIB tokens to skyrocket by 40%.
Floki has arrived pic.twitter.com/2MiUKb91FT
— Elon Musk (@elonmusk) September 12, 2021
Of the Cointelegraph dated October 18analyzeAccording to the SHIB token, it is targeting $ 0.00005200.
The growth of DOGE and SHIB is largely influenced by Tesla CEO Elon Musk. At a recent conference in California, Musk said:
“It’s impossible to destroy cryptocurrencies, but it’s possible for the government to slow down its progress.”
Musk believes the US government should “do nothing” to regulate cryptocurrencies.
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