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Shiba Inu (SHIB) Skyrockets 100% in Days Following a Big Whale Buy

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The price of Shiba Inu has exploded in the past few days, reaching a multi-month high following a massive whale purchase.

An unknown SHIB whale purchased more than six trillion of the asset days ago. The token went on a roll in the following days and doubled its value, despite the recent TVL decline in Shiba Inu’s decentralized exchange.

  • By portraying itself as a Dogecoin-killer, Shiba Inu was launched to take advantage of the ongoing meme coin craze, which has countless investors rushing into the cryptocurrency space.
  • It even took it a step further than DOGE, which was simply created as a joke token, and released a decentralized exchange earlier this year.
  • Investors indeed seemed highly interested in Shiba Inu as the total value locked surged to nearly $2 billion in June and July. Now, though, the TVL has declined substantially to under $300 million, according to DeFiLlama.
  • Nevertheless, this has not stopped one mysterious SHIB whale from buying massive portions of the asset.
  • A recent transaction from late September showed that they had bought nearly 6.2 trillion of the token for approximately $44 million.
  • In the days that followed, the price of SHIB skyrocketed from roughly $0.0000715 to a daily high of $0.0000145 yesterday. This became its highest price level since mid-May.
  • However, SHIB is still a long way away from the all-time high reached earlier this year of $0.00003791, according to CoinGecko.
SHIBUSD. Source: TradingView
SHIBUSD. Source: TradingView

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Shiba Inu still out of Robinhood’s interest? CEO Tenev remains mum

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Shiba Inu [SHIB] emerged as the rival of Dogecoin [DOGE]. This asset garnered immense attention from the globe with its price fluctuation and swift surge onto the top 20. With this, Shiba Inu managed to amass a spot on an array of prominent crypto exchanges. However, one trading platform didn’t show any interest in listing the altcoin.

Robinhood made a lot of news over the last couple of years and this wasn’t for all the good reasons. While the platform got back into form, the CEO of Robinhood, Vladimir Tenev spoke all things crypto during a recent interview with CNBC. However, the one thing he decided to leave out or rather ignore was a question about Shiba Inu’s listing.

Completely steering away from the question about listing the meme coin, Tenev took a rather long pause. The CEO dodged the question and did not decline or affirm the listing of Shiba Inu now or in the near future.

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Furthermore, Tenev noted that the firm intends to focus on safety and has already been upholding the same. At present, Robinhood has a total of seven assets and intends to keep it at this as safety comes first for the platform. He added,

“I think it goes back to safety first. We are not generally going to be the first to add any new asset. We wanna make sure that it goes through a stringent set of criteria.”

The demand for Shiba Inu seemed to be taking off. A petition was filed on Change.org urging Robhinhood to list the altcoin. The petition managed to garner a whopping 286,000 signatures. However, this seemed to make no big difference as Tenev decided to stay mum about it.

Shiba Inu [SHIB] price movement

After surging by over 10.81% throughout the week, SHIB was seen riding the bullish wave over the last couple of hours. At the time of writing, SHIB was trading for $0.00002771 with a 2.94% drop over the last 24-hours.

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The market cap of the altcoin also endured fluctuations over the past couple of days. Currently, the meme coin was in the 20th position with its market cap at $10.8 billion.

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Once SHIB Regains $0.00003, It May Reach New ATH: Candidate for US Senate 2022 Shannon Bray

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U.S. politician Shannon Bray joins the Shiba Inu army, wants to push SHIB back to $0.00003 and higher

Looks like the SHIB community has got itself a new powerful member: U.S. politician Shannon Bray.

Politician from Libertarian party touts SHIB

Candidate for U.S. Senate 2022 Shannon Bray has published a tweet about the Shiba Inu meme cryptocurrency, saying that once it recaptures the $0.00003 zone, it may reach a new all-time high soon after with little resistance.

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Bray has urged the SHIB army to “make some noise” to drive the coin to close Friday with an over 20% rise.

Bray is a Senate candidate from the Libertarian Party. He has worked in the spheres of software development, information security and management.

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Another influencer tweeting Shiba Inu picture

Elon Musk is not the only crypto influencer who likes tweeting pictures of Shiba Inu dogs. David Gokhshtein has now followed Musk’s example, posting a picture of the dog breed that inspired the first Dogecoin and then SHIB and FLOKI as well.

Gokhshtein has been holding Dogecoin and recently tweeted that he had gotten into SHIB and FLOKI too.

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Will SHIB go to $0.01 soon?

Recently, SHIB has been listed by Robinhood app’s rival, Public, and it is now accepted by real estate agency Candoli Propiedades based in Argentina. Besides, the coin has been added by two crypto exchanges—India-based ZebPay and Turkish BtcTurk, both the oldest and biggest platforms in their countries.

The community is expecting Robinhood app to list SHIB as well one of these days, hoping that it would push the price as high as $0.01.

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Robinhood CEO Dodges Question About Shiba Inu Listing

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Robinhood CEO Vladimir Tenev says that he has heard the Shiba Inu community

Robinhood CEO Vladimir Tenev addressed a swirl of rumors surrounding Shiba Inu during his Oct. 21 appearance on CNBC’s “Mad Money.”

When Jim Cramer, the host of the show, asked whether or not the leading online trading app was intending to list the canine meme token, Teven said that he had heard a lot of people in that community. 

Yet, he seemingly dodged the question and refused either to confirm or deny that the listing is indeed going to happen, prompting even more speculation. 

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“Safety first”

After an awkward pause, Tenev went on to mention that Robinhood only offers seven coins and stressed that the company prioritizes safety: 

I think it goes back to safety first. We are not generally going to be the first to add any new asset. We wanna make sure that it goes through a stringent set of criteria. 

As reported by U.Today, Robinhood competitor Public.com added support for Shiba Inu earlier this month. 

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Coinbase, America’s premiere crypto exchange, added support for SHIB in September. 

285 000 signatures 

In the meantime, a Change.org petition to post the Shiba Inu cryptocurrency on Robinhood has now surpassed 285,000 signatures. 

Tenev’s recent comment comes after the online brokerage denied making an announcement about listing SHIB, debunking Twitter rumors. 

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With that being said, Robinhood didn’t explicitly state that it wasn’t intending to list Shiba Inu in the future. 

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