The market capitalization of the meme cryptocurrency reached $ 6 billion.At the end of September, a large holder bought Shiba Inu for $ 43 million.Today, the value of the cryptocurrency exceeded $ 83 million, after which the asset was transferred to another address
On the night of Tuesday, October 5, the Shiba Inu exchange rate exceeded $ 0.000014. As of 9:40 am Moscow time, the meme cryptocurrency is trading at $ 0.000012, over the past day it has risen in price by 53%. Capitalization of the asset exceeded $ 6.3 billion with daily trading volumes of $ 5.3 billion, according to CoinGecko.
After the altcoin's value surged, 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" purchased 6.1 trillion Shiba Inu coins at the end of September, paying about $ 43.8 million. Thus, the profit for the week in case of a sale could have amounted to about $ 40 million.
Earlier, the head of Tesla and SpaceX Elon Musk published a photo of his Shiba Inu puppy named Floki. However, after the post, prices for meme cryptocurrencies, including Shiba Inu, Dogecoin, and other coins, did not respond.
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.