The Shiba Inu cryptocurrency has become the 11th largest cryptocurrency by market capitalization, after climbing to record levels over the weekend.
According to Arabiya Net, SHIB, as you know, rose 50% in the 24 hours to 10:10 a.m. New York time on Sunday, according to website pricing. CoinGecko.com, and it hit a record earlier today.
A Change.org petition asking popular trading platform Robin Hood to list SHIB has garnered nearly 300,000 signatures, as the cryptocurrency surged more than 40 million in 100 over the past year, or 400,000 times, according to Bloomberg.
The head of OTC and institutional sales at crypto derivatives exchange FTX Jonathan Cheesman said in an email that low-dollar coins are attractive to individuals, because investors do not They are still able to purchase over 20,000 Sheba units for one dollar.
In turn, the head of the Asia-Pacific region of crypto exchange Luno Pte, Vijay May, sees that with such rapidly growing memecoins or cryptocurrencies, it is difficult Speculate on the actual causes of price movements. But there are some interesting communities being built around it.
Shiba Inu was founded in 2020 by an anonymous person named Ryoshi, and the cryptocurrency site notes that it is a decentralized token that has evolved into a vibrant ecosystem.
It appears to have been created in the context of Dodge Coin, a cryptocurrency created as a joke in 2013 that also takes its logo from the image of a Shiba Inu dog.< /p>
The Dodge Coin has a market value of about $34 billion, while the Shiba Inu has a market value of about $21 billion.
