Shiba Inu jumped 615,000 times in 10 months


Mounting pressure on Robinhood Markets to add the Shiba Inu cryptocurrency helped fuel the cryptocurrency’s rise to record highs over the weekend to become one of the 11 largest cryptocurrencies by market capitalization.

The crypto token (SHIB) rose 13% in just 24 hours last Sunday, according to data from CoinGecko, bringing its gains to 70% in less than 5 days, and its market value approaching $24 billion, as it was traded at 0.00004738. Thus, the famous meme or the Dogecoin killer has risen by about 61.5 million percent, or 615,000 times, compared to its level on January 1, 2021, which was $ 0.000000000077, according to CoinGeco data.

Al-Gharabally and Chief Technology Officer at Zain Saudi Arabia, Abdul Rahman Al-Mufada

Jonathan Cheesman, head of sales at crypto derivatives exchange FTX, said low-dollar coins are attractive to individuals, because investors can still buy more than 20,000 Sheba units for one dollar.

The “Shiba Inu” coin was introduced in 2020 by an anonymous person named Ryoshi, and the cryptocurrency site notes that it is a decentralized symbol that has evolved into a vibrant ecosystem.

A petition on Change.org called on Robin Hood to include the Shiba Inu, with more than 326,000 signatures so far.

Robin Hood CEO Vlad Tenev said during the company’s earnings call that the company is considering adding new cryptocurrencies to its offering, adding: “We feel very satisfied with the crypto tokens that we are currently listing on our platform, and we would like to feel the same if not. Better than any new cipher we add.”

The “Shiba Inu” trading was volatile on its way to the top, as the cryptocurrency declined earlier in the week, after Elon Musk indicated in a tweet that he did not own it, saying in a follow-up tweet that he had bought “Bitcoin”, “Ethereum” and “Dog.” Quinn just.

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