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- The crypto industry is astounded by the sudden jump achieved by SHIB, in just a span of 24 hours
- The designers of this token were inspired by the Dogecoin community. Shiba Inu’s developers, on the other hand, want SHIB to be more than a joke
- As soon as the post of Floki, the pet of Elon Musk made the crypto token soar unattainable heights in no time
The SHIB, which has risen by almost 45 percent in the previous 24 hours, has once again astonished the cryptocurrency industry. Recently, on Tuesday, the coin was lying at somewhere near $0.00001264. SHIB’s market value amounted to $4,987,163,972, this value was achieved after its price rose by over 49%, this Monday. The timespan when SHIB’s value sore, the crypto market was experiencing a negative price considering all other tokens. The official website of SHIB stated that it was not a very permanent digital token that they had developed, instead it was developed just an experiment, as far as the Decentralized market is concerned.
The community of Dogecoin left its designers astounded with this sudden jump. Being an experiment, the developers of Shiba Inu do want this token to become something permanent and something of worth, in the crypto industry. The entire digital token community treats SHIB as the killer of Dogecoin. Some of the well known investors and traders of Shiba Inu continue promoting the currency on the social platform on a regular basis. The sites include Twitter, Reddit, etc. The cryptocurrency market is extremely volatile and unpredictable, and cryptocurrencies that have no justification for being at the top are frequently pushed up. Musk’s tweets have pumped the price and popularity of SHIB by several folds, in the past few days.
A Monday post of Musk, showcasing his puppy did prove to be the cause behind this huge leap attained by the currency at large, within no time. The Floki Frankpuppy post pushed the token several folds, and this astounded the entire industry of cryptocurrency. Since Dogecoin’s excitement has faded down, many new crypto fans have been actively promoting the Shiba Inu Coin. Musk, who has previously advocated for Dogecoin, has suddenly become the face of SHIB price fluctuations, for which a large chunk of the credit goes to his socially popular pet Shiba Inu. Experts, on the other hand, believe that such a rapid increase in the price of the token for no apparent cause is not good for investment. With the continues promotions on the social platforms by the market sensations like Musk, experts feel that the token is going to soar greater heights, but the volatility will continue to prevail no matter what price it attains.
Tags: SHIB, Shiba Inu, Coinbase, Dogecoin, price, NFT, Musk, Tesla CEO
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
