Shiba Inu, (SHIB), currently holds the most dollar of all the 100 ETH whales.
CoinMarketCap actually has SHIB listed on the top 20 coins under their market cap category. SHIB appears to be growing in popularity, but this was not the case a few days back. Shiba Inu is experiencing a significant dip in its trading volume at only 219,260 transactions, even though it was listed by Robinhood Markets Inc.
The total burn rate so far is at 31.71% or coming from the initial burned supply of 410,339,763,887,291 from SHIB’s total supply of 889.660.236, 112,708.
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SHIB No. 11
To everyone’s amazement, SHIB has also made it to CoinMarketCap’s coveted list at The 11th position. SOL currently occupies the 10 position.ThLevel and above the APE of the 12Th position.
In just 24 hours Shiba Inu experienced a dramatic price drop of 5.17% and 24.07% respectively over 30 days.
SHIB currently trades at $0.00001891, or about 0.000000000545 BTC. SHIB’s trading volume is $533,696,977, which was achieved in 24 hours. SHIB’s current market cap is $10,385,504,641.
SHIB's total market cap is $8.22B on the daily charts | Source: TradingView.com
Crypto Market stronger than stock market
While the stock market has been strong lately, it is not as robust as the crypto space. The crypto market has been strong since the pandemic. It reached $1.6 trillion, a leap of 1,100%.
It’s not just the kings of crypto Bitcoin and Ethereum that are driving the crypto market value up but also Shiba Inu (SHIB) which have been attracting new investors into the crypto space. SHIB, the meme coin was a hot topic in 2021.
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2021: SHIB’s Strongest Year
SHIB saw an incredible 121,000% intra-year growth. It can be purchased only for $0.0000000733 on January 1, 2021. However, after 10 months the price has risen to $0.00008841. You would be a millionaire if $1 was invested by you on October 27, 2021 if it had been January 1, 2021.
We are seeing Shiba Inu as an asset that can be invested. An annual return of 46,000,000% per year is incredible and could attract more investors.
ShibaInu wasn’t alone. The token did have some support, particularly from crypto market dynamics like options and derivatives, or even short-selling. More so, the token is popular on social media because Tesla CEO Elon Musk openly supports the token – and it has been a win-win setup for both.
Featured Image from Pixabay. Chart by TradingView.com