Dogecoin knock-off Shiba Inu has been making the news this entire week, drawing influencers’ attention to its impressive results.
According to CoinMarketCap, Shiba Inu has surpassed Litecoin, Chainlink, and Bitcoin Cash, entering the top 15 biggest cryptocurrencies by market capitalization.
Read: Shiba Inu Becomes The 15th Most Valuable Crypto
Currently, the SHIB is the most traded cryptocurrency on Binance, Coinbase, and Huobi.
Read: Shib Becomes Most-Traded Crypto on Coinbase
Read: Shiba Inu Futures Trading Volume Up 78x in Seven Days
Shiba Inu did not stop there; according to Santiment, the coin has reached and gotten over its four-month price high, adding over 370%.
Shiba Inu (SHIB) has been the token on everyone’s mind these last few days. Recent activities for the token have caught the attention of the entire crypto market. Just a few days ago, the price of SHIB shot up exponentially.
In detail, the price has gone up by 217.7% in the last 7 days. Currently, Shiba Inu’s price stands at $0.00002925. From the data, we can see that the price of Shiba Inu (SHIB) is steadily approaching the record set by its last ATH set in May at $0.00003791.
For now, analysts believe that a new ATH for SHIB is just around the corner. Since many expect Bitcoin and other altcoins to hit new ATHs soon, this expectation isn’t much of a stretch.
According to Google Trends, we can see that SHIBs popularity score in May at 100. Now in October, the score is at 99. This is another indication that a new ATH could happen any minute.
In comparison, the popularity of Dogecoin (DOGE) is much lower. In fact, interest in SHIB has surpassed DOGE. At the moment, SHIB is almost tied with Bitcoin when it comes to popularity scores.
Shiba Inu’s Twitter community has also been abuzz. Shytoshi Kusama’s many recent tweets point to much activity coming SHIBs way. For instance, Shytoshi hints at big changes that’ll have the whole industry following SHIB’s lead.
Read: SHIB Hits 1 Million Followers On Twitter
While Shytoshi could be talking about the upcoming Shiboshi NFTs, it could also mean a number of other things. One of the community’s hope is for a practical way for burning SHIB. To do so, perhaps a video game that allows token burning would be a great option. Above all, it will increase SHIBs growth potential.
Meanwhile, SHIB whales have been very active lately. To highlight, one whale moved over 6 trillion SHIB just before the recent price spurt. Accordingly, WhaleStats shows that SHIB is the top-most popular ETH token this October.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
