The Shiba Inu cryptocurrency was inspired by the Japanese dog breed of the same name. Since its introduction to the cryptocurrency market, the coin’s value has risen, satisfying the curiosity of both investors and fans.
How Much Does Shiba Inu Cost?
The value of the cryptocurrency shot up by nearly 173% in a week at the end of October 2021, before falling almost as quickly.
Though it’s tempting to get caught up in the hype, investors should keep in mind that cryptocurrency in general, and meme crypto in particular, is a highly volatile investment.
Find out everything you need to know about the present price of Shiba Inu, its historical volatility, and its potential in the future.
As of Friday, December 5 (CoinMarketCap), one coin is worth $0.000009394. In comparison to its all-time high of $0.00008 on October 26, 2021, this is a drop of more than 88%.
Currently, the coin is valued at $5.16 billion, placing it at number 14 on CoinMarketCap’s ranking of the largest cryptocurrencies by market cap.
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Shiba Inus Goes Up After Kusama Changes His Twitter Bio
The dog-themed altcoin Shiba Inu had been trading in the red zone for days, but after the whale accumulation activity and another change to Shytoshi Kusama’s Twitter bio, it began trading in the green and showed an increase in the price of more than 7%.
Early Tuesday morning, SHIB traded at $0.000008692; by midday, its price had risen by over 7% to $0.00000931.
Since Shiba Inu is a community-based ecosystem, the Shib Army took action to support the altcoin during the industry’s lengthy winter and bear market.
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