Over the past week, the "meme" cryptocurrency has risen in price by 212%, and its market value has reached $ 14.4 billion
Shiba Inu token ranked 20th in the list of the largest cryptocurrencies by capitalization, according to CoinMarketCap. The market value of the "meme" cryptocurrency exceeded $ 9 billion. Over the past 24 hours, Shiba Inu has risen in price by 68%. At 12:30 Moscow time, the token is trading at $ 0.00002193. Growth for the week amounted to 212%.
On October 5, Shiba Inu became the most popular token on the largest US crypto exchange Coinbase. The daily trading volume of the "meme" cryptocurrency on the site reached $ 1.3 billion, exceeding the result of Bitcoin. On October 6, Shiba Inu's daily trading volume on Coinbase exceeded $ 1.8 billion.
After the altcoin's value began to skyrocket, one of the major holders transferred more than $ 83 million worth of Shiba Inu from one address to another. The transfer fee was $ 46. This "whale" acquired 6.1 trillion Shiba Inu coins at the end of September, paying approximately $ 43.8 million. Thus, he received about $ 74 million in "paper profit" for the week.
The Shiba Inu token is called the "Dogecoin killer" by its creators. The project's website says that its main task is to surpass Elon Musk's favorite cryptocurrency in terms of capitalization. The developers of Shiba Inu claim to have been inspired by the example of the Reddit community WallStreetBets, which artificially inflated the value of the shares of GameStop, AMC and other unprofitable companies.