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Shiba Inu Breaks Into Top 20 Amid Explosive Price Rally

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Dogecoin offshoot Shiba Inu has once again entered into the list of the top 20 biggest cryptocurrencies by market capitalization, according to data provided by coin tracking website CoinGecko.

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Image by coingecko.com

The cryptocurrency is currently valued at $11 billion, and it’s a hair’s breadth away from catching up with Bitcoin Cash, the largest hard fork of Bitcoin.

The meme coin is up almost 200 percent over the past three days alone, vastly outperforming the rest of the cryptocurrency market.

As reported by U.Today, Shiba Inu recently surpassed Bitcoin in terms of trading volume on Coinbase, America’s leading exchange.R

It is unclear what caused the sudden run-up, but some speculate that it might have been fueled by Tesla CEO Elon Musk recently posting another photo of his Shiba Inu dog.     

Dogecoin has also seen a significant price boost because of its canine rival, which allowed it to climb to eighth place on CoinGecko.

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Earlier today, AMC CEO Adam Aron made an announcement about adding a Dogecoin payment option for purchasers of the cinema chain’s gift cards.

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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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Traders swap Dogecoin for Shiba Inu on rumors of Robinhood listing

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  • Social investing app Public.com lists SHIB for members with crypto access; the platform is yet to launch crypto wallets.
  • Brazil’s largest cryptocurrency exchange Novadax added SHIB to its fiat-crypto market.
  • All staking and liquidity mining stablecoin rewards on SHIB will now be distributed through BONE, saving Shiba Inu holders the gas fees paid in Ethereum to claim rewards.
  • Development of Shibarium and Shiboshi games is underway; launch is expected within a few months.

Shiba Inu coin reached over a million new traders through its listing on Novadax, Public.com and CoinFLEX. A crypto exchange offered traders “Flip DOGE for SHIB” and exchanged Dogecoins for Shiba Inu tokens. 

Rumors of Robinhood listing, analysts predict SHIB recovery 

Public.com, a social investing app, recently listed the Shiba Inu coin for members who have opted in for cryptocurrency access on the platform. The social app added cryptocurrencies to its list of offerings on October 7. The platform has over a million traders on its app. 

Brazilian traders now access SHIB through the country’s largest cryptocurrency exchange, Novadax’s fiat-crypto market. Traders on the exchange can buy SHIB using Brazilian Real on Novadax. 

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ChangeNOW, a non-custodial cryptocurrency exchange platform, recently offered its traders the option to “Flip DOGE for SHIB,” effectively exchanging their Dogecoin holdings for Shiba Inu coin. Traders availed this service to accumulate more SHIB tokens ahead of the rumored listing on the zero-commission exchange platform, Robinhood. 

An anonymous source close to the exchange revealed that Robinhood had taken notice of the social media support for SHIB, and the platform plans to list SHIB soon. 

Shytoshi Kusama, the leader of all Shiba Inu ecosystem projects, recently shared an update on the trifecta SHIB, LEASH and BONE. Kusama addressed SHIB holders’ issue with ETH gas fee payment in claiming staking and liquidity rewards. All rewards in stablecoins will now be distributed through BONE. 

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Kusama confirmed that Shibarium and Shiboshi game development is underway, and there are plans to launch the products in the upcoming months. 

Pseudonymous cryptocurrency analyst @army_shiba is bullish on SHIB price. The analyst set a target of $0.00004161 and $0.00005201. 

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FXStreet analysts have evaluated the SHIB price trend and predicted that Shiba Inu has one obstacle to overcome before the Dogecoin-killer hits $0.00006. 

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