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Shiba Inu is preparing for another breakout.
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Shiba Inu is currently ranked in 11th place on CoinMarketCap.
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Shiba Inu has an anonymous creation team named Ryoshi.
Shiba Inu, like Bitcoin, has an anonymous creator who goes by the alias Ryoshi. It is a dog-themed cryptocurrency named after Shiba dogs. Shiba Inu are Japanese breeds of hunting dogs. It was established in August 2020 and quickly rose to stardom. Fans of the Shiba coin are generally referred to as ‘The Shibarmy’.
Recently, Shiba Inu ranges in price between $0.00003852 and $0.00005056. It ranks in 11th place on CoinMarketCap. About 590 trillion Shiba Inu coins exist, and about 550 trillion are in circulation already. Shiba Inu has a daily trading volume of about $6.5 billion and a market cap of about $26.5 billion.
The rise of Shiba Inu was phenomenal. Its all-time low occurred on November 28, 2020, with a value at $0.000000000056. It hit an all-time high almost a year after at $0.00008616 on October 28, 2021. This amounted to a growth of about 84,596,216.7%, pushing it into the top 15 cryptocurrencies in the world.
SHIB / TetherUS daily candlestick chart (source: TradingView)
From the chart, it seems like Shiba Inu is about to experience another upward break.
Obviously, the future holds something interesting for this meme coin. The publicity it got after Vitalik Buterin sold some of his holdings and gave it to an India COVID-19 relief fund will definitely speak in the coming days.
Summary
Shiba grew by 84596216.7% in only about a year, which is phenomenal, to say the very least. Giant movers, solid developers, and an energetic community (The Shibarmy) are the main reasons for the big pump in the price of Shiba Inu.