Price Alert: Shiba Inu To The Moon? Meme Crypto Jumps To New All-Time Highs

Shiba Inu SHIB/USD, aka a Doge DOGE/USD killer, has been on a tear since late Saturday and is currently at new all-time highs.

What Happened: Shiba Inu was trading in a $0.000026-$0.000028 range for much of last week, even as some of its more illustrious counterparts, namely Bitcoin BTC/USD and Ethereum ETH/USD scaled to new all-time highs.

Shiba Inu and Doge were panned for underperforming the broader cryptocurrency market.

However, things began taking a turn for the better for Shiba Inu on Saturday, as it along with Dogecoin began leading a rebound in the broader crypto market.

Shiba Inu ended Saturday's session at $0.000034, up about 21.4% for the day. The rally in the meme currency picked up further steam on Sunday, as it began a steady ascent and is currently perched at an all-time high.

Related Link: How to Buy Shiba Inu Coin (SHIB)

Why It's Important: Shiba Inu was founded in Aug. 2020 by an anonymous person known by the name Ryoshi reportedly operating out of China.

SHIB started with a supply of 1 quadrillion and subsequently Ryoshi locked 50% in Uniswap and then burned the other half to Ethereum co-founder Vitalin Buterin for safekeeping. Buterin has since donated his SHIB to COVID relief efforts in India, and then burned 40% of its total supply to a dead wallet.

The crypto received a shot in the arm in September when Coinbase Global, Inc. COIN said its customers can trade, send, receive, or store SHIB on its platform.

It is widely speculated that trading app Robinhood Markets, Inc. HOOD may soon list the crypto. This could serve as the next big catalyst for the meme currency.

At last check, Shina Inu was jumping 49.44% to $0.000041. 24-hour trading volume has also been robust at $11 billion. The crypto is now ranked 12th on CoinMarketCap with a market cap of $16.6 billion.

Related Link: Bitcoin Vs. Shiba Inu