Why Is Shiba Inu Skyrocketing Again Today?

SHIBA INU SHIB/USD soared 71.91% over 24 hours leading up to early Wednesday. 

What’s Moving? The coin has soared 209.35% over a seven-day trailing period.

SHIB appreciated 67.15% and 69.36% against larger cryptocurrencies Bitcoin and Ethereum over 24 hours. 

Over the last 30-days, the self-described Dogecoin DOGE/USD Killer has shot up 203.25% and in the last 90-days, it has run up 176.74%.

SHIB touched an all-time high of $0.0000388 in May.

See Also: Shiba Inu Price Prediction

Why Is It Moving? SHIB’s rose in tandem with other major coins, including DOGE, at press time when the global cryptocurrency market cap rose 2.58% to $2.22 trillion.

See Also: AMC Begins Accepting Dogecoin For Digital Gift Cards

SHIB attracted high interest on Twitter. The coin was mentioned in 4,862 tweets at press time, as per Cointrendz data — making it the second most-discussed cryptocurrency on the social media platform after BTC.

SHIB also saw high interest from retail investors on Stocktwits and Coingecko.

On Tuesday, cryptocurrency exchange WhiteBIT said SHIB would be listed on Oct. 7. 

Good news for the meme token fans

We are happy to announce that @Shibtoken ($SHIB) will join our exchange on the 7th of October.

More updates will follow soon! pic.twitter.com/ZzhdDw4Iub

— WhiteBIT (@WhiteBit) October 5, 2021

It is noteworthy that SHIB was listed on Coinbase Global Inc’s COIN platform last month after making it to Coinbase Pro earlier. There is a growing buzz surrounding SHIB’s listing on Robinhood Markets Inc HOOD after the latter introduces cryptocurrency wallets.

SHIB’s latest upwards trajectory was set into motion after an unidentified crypto whale purchased six trillion SHIB on Friday and another 276 billion worth of tokens on Saturday.

On Tuesday, Benzinga’s Melanie Schaffer noted that SHIB traded with a daily volume of 14.4 million compared with a 10-day average of 2.55 million. Shiba’s relative strength index measured at near 89% on Tuesday, which as per Schaffer puts it in the overweight territory.

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