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Why Is Shiba Going Up What is Shiba Inu Coin?

The guide gives information on The Shiba Inu coin and helps users understand the reasons behind Shiba going up.

Due to the growing market for Cryptocurrency there are a variety of new coins and tokens appear every day to provide a lucrative platform for global investors. Shiba Inu is the latest Crypto Coin developed after the success of Dogecoin.

The coin is now available for trading. Shiba Inu is available for trading on Coinbase using its ticker symbol, SHIB. It has been observed that the price of the coin has been up by 25% in just only a few hours after the being listed.

Investors from America United States are becoming more attracted by the currency and are keen to know why. Shiba increasing.

What is Shiba Inu Coin?

The coin was created through Ryoshi, Shiba Inu is the latest cryptocurrency that became an internet phenomenon following its listing as a token on Coinbase exchange. It has been the subject of many successes after it entered the Crypto market. It managed to surpass the all-time record of $0.00003791 on May 10, 2021.

Recently this coin is in the news for people who invest across the United States after the price of the coin reached an all-time high of 25. In the wake of the price hike the market capitalization of the coin has risen up to $1.2 billion.

The token was a result of the popularity of Dogecoin.

Why Is Shiba Going Up – Let’s Know!

There are a variety of reasons for why the price of the coin is growing. However, the dramatic increase in price was recorded after it was placed in Coinbase. Coinbase market. The price of the coin grown by 25% within the first few hours of its being listed and its value has increased to $0.00000841.

Shiba Inu token was only accessible for trading through the company’s exchange from 9th September. The market price also saw the same rise within just a just a few hours after the being listed. Investors searching for the solution to What is the reason behind Shiba going up must be aware that it’s because of its inclusion on the crypto exchange open to all.

But, the increase isn’t that significant as compared to its initial price. It is one of the fifty most important Crypto coins, and has an estimated market value in the range of $1.2 billion.

Will The Price Surpass Dogecoin?

Dogecoin is backed and supported by Tesla as well as SpaceX chief executive, Elon Musk, and Shiba Inu does not have the backing by the co-founder. There is a unlikely that it can surpass the value and price of Dogecoin. Also, anyone seeking the solution to the question: Why is Shiba going up should be aware that Shiba’s price is extremely excessive due to its inclusion on the prominent exchange called Coinbase.

Musk’s views on Crypto tokens and coins holds great value. The support for Dogecoin has helped it have a greater market value. Because Shiba Inu coin isn’t getting the same amount in support by Elon Musk, it is not likely to exceed the value of Dogecoin’s market. You can read more details here..

Conclusion

Despite the volatility that is market volatility, Crypto marketplace, recently launched Crypto cryptocurrency Shiba Inu has recorded an increase by 25%, especially since it was listed on Coinbase. Coinbase exchange.

After the price increase investors are now keen to find out the reason behind Shiba increasing. This is due to being listed on the main exchange since it was listed on the professional exchange run by the company before.

Do you have something to add to the increase in price for Shiba Inu? If so, then please post it in the comments section.

Christopher Stern

Christopher Stern is a Washington-based reporter. Chris spent many years covering tech policy as a business reporter for renowned publications. He has extensive experience covering Congress, the Federal Communications Commission, and the Federal Trade Commissions. He is a graduate of Middlebury College. Email:[email protected]

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