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Elon Musk’s tweet kickstarts Shiba Inu! More gains ahead for SHIB Price?

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SHIB has risen 87.3% percent in the last 24 hours to $0.00001922 per token. The coin’s meteoric rise coincided with Tesla CEO Elon Musk’s social media mention of the “Dogecoin killer” cryptocurrency. As a result, Shiba Inu is currently the world’s 33rd most valuable cryptocurrency, with a market capitalization of $6.42 billion

Elon Musk has once again proven to be a true achiever. Musk shared another shot of his Shiba Inu puppy, Floki, on Monday. He referenced Floki Frunkpuppy in his tweet, which has an impact on the SHIB Coin, and as a result, the token price has risen dramatically.

SHIB- Most traded on Coinbase 

Shiba Inu has also been the most traded cryptocurrency on Coinbase in less than a month since its introduction. SHIB’s 24-hour trade volume is already $1.3 billion, putting it comfortably ahead of Bitcoin, which has $774 million.

The canine currency has re-entered the top 30 most valuable cryptocurrencies by market capitalization.In just one day, its daily trade volume increased by a stunning 553 percent.

Shiba Inu is still 52 percent away from reclaiming its all-time high of $0.00003791, despite its remarkable resurgence.

SHIB gets on a new exchange

Shiba Inu in a recent tweet has announced their arrival on a new exchange called WhiteBit. 

The team in the tweet says, While we began as a meme token we have progressed well beyond that. It’s not like memes are horrible in the first place. They are adored by all, and for good cause. Memes reach out to people, connect with them, and make them smile. They further stated 

With all the bullish activity around the meme crypto, SHIB can be expected to rise further, also given the bullish sentiment of the broader crypto market. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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