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Shiba Inc Coin Reaches High to Become New Crypto Favourite

Shiba Inu launched in August 2020. It has grown by more than 70,000,000% in the past year and 960% just this past month. The coin reached a record high of $0.000086 Wednesday afternoon and currently sits at $0.000073 as of Wednesday, up from $0.0000000001 from last October.

This gives altcoin a $30 billion market cap, making it No. 11 on the CoinMarketCap’s list. It is behind Dogecoin at $31 billion. Shiba Inu rise in value is partly due to a rumour of it being available to trade on the investing app Robinhood. A petition requesting Shiba Inu to be added to the app currently has more than 360,000 signatures.  Robinhood tweeted that it had no announcement regarding adding the coin.

The coin has been trading at low and volatile values since its creation, but quickly became a popular alternative to major coins like Bitcoin and Ethereum, as well as a fresh new follow-up to Dogecoin, through 2020 and into 2021.

Its ability to eclipse Dogecoin, which was created in 2013 as a satirical take on the popularity of Bitcoin and enshrined the Shiba Inu ‘doge’ meme in cryptocurrency form, earned Shiba Inu coin the nickname of ‘Dogecoin killer’. It has since experienced several bullish runs from crypto investors and traders who hope to see the meme cryptocurrency listed on stock trading and investment platform Robinhood.

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