Shiba Inu Coin Surges In Price Amid The Bearish Market Wave

The post Shiba Inu Coin Surges In Price Amid The Bearish Market Wave appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Once upon a time, there was a really special dog, that dog was a Shiba Inu, and this dog galvanized several folks around the world to speculate cash into tokens with the dog’s image on it.

According to the SHIBA INU website, SHIB is the “DOGECOIN KILLER” and is listed on their own ShibaSwap, a DEX. The Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.”

Ryoshi says concerning himself that he’s a no-one and there is no need to unmask his identity. He said that even if efforts are made to unmask his identity, it will be underwhelming.

The live Shiba Inu price today on the Gate.io trading platform, which is one of the top ten global exchange platforms, “is $0.00002799 USD with a 24-hour trading volume of $4,361,373,480 USD. Shiba Inu went up 20% in the last 24 hours and more than 5% in the last seven days”. 

It has a circulating supply of 549,063,278,876,302 SHIB coins. It is ranked number 15 amongst more than 13,000 cryptocurrency market caps.

SHIB New Listing and The effect on The Price of The Meme Coin

With the bearish movement in the cryptocurrency market in the last 24 hours, the popular cryptocurrency platform Robinhood has listed Shiba Inu (SHIB) alongside other major cryptocurrencies that include Polygon (MATIC), Solana (SOL), and Compound (COMP).

Shiba Inu supporters have petitioned for months for Robinhood on Change.org to list SHIB since last October and nearly 560,000 signatures have been collected on Tuesday. 

Furthermore, the news came less than an hour after the “Crypto Exchange Listing Bot”, an API that collects data from 44 different crypto exchanges to provide real-time prices on assets, sent out a notification that it had detected that Shiba Inu had been listed on Robinhood.

The Chief Brokerage Officer at Robinhood said “We’re excited to add choices for customers as we work to make Robinhood the best place to invest in crypto.

As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform.”

Immediately, the news of Shiba Inu’s listing on Robinhood was announced, the price of SHIB increased and the Shiba Inu community expects this listing to cause a surge in the price of the meme coin even as the community awaits the launch of Shiba Inu’s metaverse.

Shiba Inu token has received a significant increase in interest after the launch of the Shiba community metaverse.

According to WhalesStats, the top Ethereum wallets own approximately $1.28 billion worth of Shiba Inu tokens and this amounts to 14.17 percent of their overall holdings. Is this a good time to buy Shiba Inu coin?

Shiba Inu Burn Rate Hits 26,000% as 1.4 Billion SHIB Has Been Destroyed

The second-largest meme-based cryptocurrency Shiba Inu has seen a lot of tokens burned on April 9th. According to statistics from shibburn.com, it shows that 1.4 billion SHIB has been burned in the last day at a rate of 26,593%.

A Shiba Inu team member says “burning SHIB is a core aspect of our ecosystem”. The Shiba Inu ecosystem has seen good activities that include the massive burn rates and has taken a step further to become the top ten purchased tokens among 100 Ethereum whales in the last 24 hours.