The meme-based cryptocurrency Shiba Inu has skyrocketed in value, and a ‘Whale’ has purchased 6 trillion tokens. Yummy!
The cryptocurrency Shiba Inu (SHIB) has managed to climb to the 18th position in terms of market capitalization on the cryptocurrency exchanges. And that’s a really good thing. The token has gained 230 percent in the last seven days, and it has gained a total of 24,177.682 percent throughout the course of the year.
Shiba Inu on the prowl
A decentralised cryptocurrency, SHIB was first developed in August 2020 by an unidentified person or group of individuals known as “Ryoshi.” SHIB is a digital asset with no central authority. The value of SHIB has increased as a result of a larger customer, referred to as a “Whale,” purchasing tokens worth $43 million.
Shiba Inu has a market capitalization of around $11.6 billion at the time of this writing. Monthly statistics reveal that SHIB has increased by about 300 percent, despite the fact that the crypto asset has increased by more than 230 percent in seven days. As of Friday, October 8, the total volume of SHIB trading for a 24-hour period is $13.9 billion. It’s colossal.
On September 30, 2021, a buyer purchased more than 6 trillion SHIB just as the price of SHIB was about to surge. The meme-based cryptocurrency asset SHIB has recently been listed on Coinbase, and it has had substantial retail demand since its initial listing. The Shiba Inu team has also created a decentralised exchange (dex) known as Shibaswap, which is a cryptocurrency exchange.
With a total market capitalization of $364 million, Shibaswap also contains a number of additional crypto assets that are related to the SHIB ecosystem, such as the tokens leash and bone. As a result, SHIBA is making significant development and is also considering new avenues for generating income. That is simply brilliant.