Shiba token, a parody cryptocurrency, has just
reached a record high, making it one of the most valuable digital currencies in the world. Elon
Musk just said something interesting about the Shiba token that will make the coin blow up in
the next 48 hours. Is Elon Musk investing in Shib token? What the shib developers say about reaching
10 cents? All these questions and more news, you will find in this video. So, make
sure you watch the video until the end. Do not forget to like the video, subscribe, and
comment down what you think about Shiba Inu. With no more excuses, let's get started. CoinGecko
reports that Shiba coin, a meme currency similar to dogecoin, has increased in value by more
than 40% during just the last seven days. The coin is listed as the 11th largest
cryptocurrency on the website.
According to the site, the token's value has increased
by over 45 million percent in the last year.
After Tesla CEO Elon Musk, a major lover of
dogecoin tweeted that he doesn't own any Shiba coin, it dropped roughly 10% from its all-time
high. The cryptocurrency markets have been repeatedly affected by Musk's comments. Shiba
coin, which is the ninth-largest cryptocurrency by market value, has the Shiba Inu dog as its
mascot, similar to Dogecoin.
Some investors have become millions as a result of its rapid growth.
Several celebrities, ranging from former members of boy bands to professional athletes, have
endorsed the currency. As recently as last month, ethereum creator and co-founder Vitalik Buterin
made news for contributing moreover 1 billion dollars in Shiba coin to an Indian disaster relief
organization called Covid-19. More than 300,000 people have signed a Change.org petition pushing
Robinhood to list the Shiba Inu coin on its platform. The value of other well-known virtual
currencies has risen dramatically as well.
As the most valuable cryptocurrency in the
world, Bitcoin struck an all-time high last week, surpassing the previous record established in
April, with a price of about 67000 dollars per coin. From slightly under 44000 dollars at the end
of September, the price of one bitcoin has risen by half this month. At the time of writing, the
price of one bitcoin is close to 62000 dollars . Increased confidence in the United States'
authorities, encouragement from major investors like George Soros, and the introduction of a
first exchange-traded fund linked to bitcoin futures have all contributed to the rise. Now
let's get into the main topic of this video. Dogecoin-inspired ERC-20 coin Shiba token
witnessed a 20% price decline in two hours after Tesla creator and potential CEO of DOGE
Elon Musk revealed on Twitter that he did not own any Shiba Inu tokens.
After a more than 500
percent increase since the beginning of October, SHIB rocketed to a local high of 0.000044
dollars on Sunday, triggering the retracement.
Twitter user ShibaInuHodler inquired about
Musk's SHIB holdings amid the token's upward price movement, to which Musk replied: "None." A
few sellers had already stepped in at the token's all-time high, but SHIB would drop another 10%
to trade at 0.000035 dollars within 30 minutes of Musk's response. Since then, SHIB's price has
ranged between 0.00004 dollars and 0.000000035 dollars . SHIB investors' reactions to Musk's
statements have been mixed, with one person recommending that Musk invests in Shiba Inu
tokens. While some have praised Shiba Inu Holder for engaging Musk, others have condemned him for
doing so, with Shibalaskan urging people to "stop pestering celebrities when the community is
doing fine without this sort of silliness. It's all happening at the same time that
Elon Musk is praising Dogecoin on Twitter. "Lots of folks I talked to on Tesla manufacturing
lines or building SpaceX rockets own Doge," tweeted SpaceX creator Elon Musk on Sunday.
They're not Wall Street bankers or high-tech entrepreneurs from the Bay Area.
Doge seemed like
the crypto of the people, which is why I decided to support it. What the shib developers
just said about the price of shib tokens? Shiba Inu has just hit a new all-time high,
according to the official SHIB Twitter account. It's been a long time coming, but here we are. In
May, the all-time high for Shiba Inus was reached. This is the second time the Shiba Inu breed has
done it! Shiba Inu was virtually unknown when it first launched, save for the fact
that it made reference to Dogecoin. Much has happened since then and Shiba Inu
is now the blockchain's trendiest coin, with an unprecedented amount of momentum in the
According to Stock Talk Weekly, Shiba Inu's 24-hour volume increased by
over 500 percent, making it a new all-time high. Analysts estimate that the token's year-to-date
gains are approximately 54 million percent.
A continuous bullish trend that began on October
15 has been blamed for the most recent price increase in SHIB. As a result of this surge,
the token's value increased by more than 26%. On the other hand, the token's price
went into a bear market on October 17th. SHIB bulls, on the other hand, should be on the
lookout for a breakout after the consolidation phase, according to market analysts. Shiba
Inu's bull run has restarted, as predicted, and it has already risen by 46% in the
last 48 hours to reach a new record high. Dogecoin, on the other hand, has fallen by a
stunning 65 percent since its May high. Shiba Inu is currently the 13th-largest cryptocurrency
by market capitalization, only three steps away from Dogecoin, therefore the expected flipping
is getting closer and closer.
It's getting closer as Dogecoin's sluggish performance in the
crypto market becomes more pronounced.
Shiba Inu is currently the most
traded cryptocurrency on Coinbase, according to CoinMarketCap data, in addition
to achieving a new all-time high. Shiba Inu's daily trade volume topped 1 million dollars
on the exchange! To put things in perspective, the 24-hour trading volume of Ether, Bitcoin,
and Solana combined is greater than this. Exactly why are Shiba Inus assembling now, and
where do they see the rally going from here? You'll have to see what happens if you keep
watching. We'll get to the good news soon enough. As SHIB develops, so does the SHIB military.
Last week, the number of SHIB holders had surpassed the 750,000 thresholds. Shiba Inu has
now surpassed the 760,000-holder mark in just a few short days. That is ridiculously large!
When SHIB continues to grow at this rate, it may reach one million users by the end of the
year. Also, as the number of holders increases, transaction volume is expected to skyrocket,
perhaps even reaching 1 billion dollars.
As a result, prices will soar and potentially
even lose a smattering of zeros in the process. However, tremendous burn is what Shiba Inu
urgently requires in order to achieve this huge price increase.
There are currently
390 trillion Shib Inu in circulation, and if we want SHIB to become more valuable and
profitable, we need to drastically reduce the supply. Several burn techniques have been put in
place by the group. There have also been joint ventures that have resulted in varying degrees of
heat. Today, we've got more news about the burn, and we know you're going to love it. Shiba Inu's
circulating supply contains approximately 888 million SHIB tokens, according to Watcher Guru.
This is a 28000 dollars burn in today's money. terms. Even while it's not as dramatic
as Binance's 640 million dollars burns, this is a huge step forward for Shib. It's
unclear who set fire to the tokens.
Now that we know that, let's take a look at
the results of @shibainuart's Twitter poll. Weekly, Shiba Inu's stock price has risen
by astronomical amounts. In just one week, the token's value has increased by over 200% and
is now at an all-time high. To put it another way, nobody knows just how high this
token will go in the following week. Shiba Inu appears to have developed the
practice of paying weekly visits to its owners, bringing pleasant surprises in the form of price
So, what do you think will happen next week? Most people who took part in @shibainuart's
prediction poll believe that Shiba Inu will attain a new all-time high price of roughly
one-tenth of a cent if the zero is removed. You may be asking why Shiba Inus are currently
rallying. Coin Bureau, a crypto Twitter personality, is likewise perplexed. Last night, he
tweeted that SHIB was just outside of the top ten. I'm stumped as to what's igniting this rally.
And I'm hesitant to ask at this stage.
SHIB Informer, on the other hand,
responded with a lengthy list of all the various variables that are conspiring to
drive the price of Shiba Inu surging. Robinhood. It's clear that Shiboshis is a big hit. Two main
payment platforms have been integrated (you can buy with SHIB in a lot of places already, even pay
salaries). Right now, we're working on Shibarium, an L2 blockchain of our own. Community members
who are actively involved and natural influencers. SHIB Informer has a point, and I tend to concur.
Shiba Inu's recent bull run has been fueled by all of these causes and more.
This is the end
of the video, make sure you like the video, subscribe, and comment down on what
you think about the shib token.