Shiba Inu, a meme coin, has increased by almost 260 percent in the last week

According to coinmarketcap, the Shiba Inu token has increased by more than 260 percent in the last seven days.


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135 shares, 108 points

According to coinmarketcap.com, the Shiba Inu token has increased by more than 260 percent in the last seven days. This year, the meme-based cryptocurrency has seen enormous increases. After Elon Musk posted a photo of a Shiba Inu puppy on October 5, the price of the Shiba Inu increased by 55 percent in 24 hours. This isn’t the first time Musk’s tweet has caused the price of the coin to rise. The price of the Shiba Inu coin had previously risen when an unidentified buyer purchased a total of 6.3 trillion coins, starting with 6 trillion on October 1 and then 116 billion coins, 115 billion coins, and 1 billion coins in following transactions. 

Ryoshi, the unknown founder of the meme coin, debuteditin August2020. following the success of Dogecoin, the first meme-based cryptocurrency.

According to data from coinmarketcap.com, Shiba Inu has a market capitalization of almost $11 billion as of October9. The coin had risen 230 percent in seven days earlier this week, and had increased by 300 percent month over month.

According to Bitcoin.com, the major Shib exchanges are Binance, Bibax,Gdax, Poloniex, and Kucoin.

When Ethereum founder Vitalik Buterin contributed $1 billion worth of Shiba Inu coins to India’s Crypto Covid Relief Fund, the Shiba Inu token made headlines.


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