SHIB stock is up 87.3% in the past 24 hours to $0.0001922 per token. The coin’s meteoric rise coincided with Tesla CEO Elon Musk’s mention on social media of the “Dogecoin killer” cryptocurrency. As a result, Shiba Inu is currently ranked 33rd on the list of the most valuable cryptocurrencies in the world, with a market capitalization of $6.42 billion.
Elon Musk has proven once again that he is a true achiever. Musk shared another shot of his Shiba Inu puppy, Floki, on Monday. He mentioned Floki Frunkpuppy in his tweet, which has an impact on SHIB coin, and as a result, the price of the token has skyrocketed.
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 trading volume is already at $1.3 billion, putting it comfortably ahead of Bitcoin, which is at $774 million.
The cryptocurrency re-entered the top 30 cryptocurrencies by market capitalization, and in just one day, its daily trading volume increased by a staggering 553 percent.
Shiba Inu is still 52 percent away from regaining its all-time high at $0.00003791, despite its notable resurgence.
SHIB acquires a new exchange
Shiba Inu announced in a recent tweet the arrival of a new exchange called WhiteBit.
While we started as a meme, the team says in the tweet, we’ve progressed a lot after that. It’s not like memes are horrible in the first place. They are loved by everyone, and for good reason. Memes reach people, connect with them, and make them smile. They also mentioned
With all the bullish activity around the cryptocurrency meme, SHIB can be expected to rise further, also given the bullish sentiments of the broader crypto market.