Shiba Inu (SHIB) hits all-time high and becomes 11th most capitalized cryptocurrency

SHIB hits new record

Much like Dogecoin, Shiba Inu has always stood out for its ability to bounce back after being buried a bit prematurely by suspicious investors. And its latest breakthrough seems to prove once again that fundamental or not, buyers are there. In just one day, the price of the SHIB thus jumped by + 58%, reaching an all-time high at 0.000044 dollars:

SHIB Shiba Inu course record

The SHIB price hit a record yesterday. Source: TradingView, SHIB / USDT

The 497,730,000,000,000 SHIB tokens in circulation have enabled the cryptocurrency to reach a substantial capitalization, at over $ 20 billion. This makes Shiba Inu the 11th most capitalized crypto at the moment, behind the USD Coin (USDC) which posts $ 32 billion:

CoinGecko capitalization cryptocurrencies

Most capitalized cryptocurrencies. Source: CoinGecko

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Shiba Inu roller coaster

As always, Shiba Inu is particularly sensitive to outside influences. As the SHIB price continued to climb, a tweet from Elon Musk on Twitter caused the price to tumble – temporarily:

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– Elon Musk (@elonmusk) October 24, 2021

But the SHIB has gone back to the assault of $ 0.000042 since then. On the other hand, Shiba Inu’s initial rise was apparently based on equally inconsistent information. Rumors are circulating about a possible listing of SHIB on the Robinhood platform.

These price movements are based purely on speculation, and the price of SHIB could tumble again:

“Attention [des investisseurs] seems to have converged on the SHIB. [Shiba Inu] will likely face competition from other projects and lose a lot of its value. “

The SHIB is now only two places from its great rival Dogecoin. Will it manage to stay in the heads and portfolios of investors? The coming weeks will tell us.

👉 Also Read – AMC Theaters Now Accept Dogecoin (DOGE) For Gift Cards

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About the author: Marine Debelloir

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Associate Editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

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