cryptocurrency shiba inu coin hits all-time high

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cryptocurrency shiba inu coin

The parody recently hit a new high and is now one of the most valuable digital currencies in terms of market capitalization.

According to CoinGecko, , which appears to be inspired by dogecoin, a meme currency, has increased by more than 40% in the last seven days. The coin is ranked as the 11th largest cryptocurrency on the website.

According to the website, the token has increased by more than 45 million percent in the last year.

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After Tesla CEO Elon Musk, a big fan of dogecoin, tweeted that he doesn’t own any shiba coin, it fell about 10% from its all-time high. Musk’s tweets have had a significant impact on cryptocurrency markets.

The Shiba Inu dog serves as the mascot of shiba coin, which, like Dogecoin, is the ninth most valuable cryptocurrency by market capitalization. Some investors have become millionaires overnight as a result of its meteoric rise.

The coin has also attracted the support of a number of celebrities, ranging from former boy band members to professional athletes.

Ethereum co-founder Vitalik Buterin made headlines earlier this year when he donated $1 billion worth of shiba coin to a Covid-19 relief fund in India.

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More than 300,000 people have signed a Change.org petition urging trading platform Robinhood to list the shiba inu coin.

Other popular virtual currencies have experienced rapid growth as well. Last week, Bitcoin, the world’s most valuable cryptocurrency, surpassed the previous high of nearly $67,000 per coin set in April.

The first bitcoin exchange-traded fund (ETF) has begun trading.
From just under $44,000 at the end of September, bitcoin prices have risen by 50% this month.
Bitcoin is currently worth nearly $62,000.

The surge has been fueled by renewed hopes that US regulators will not crack down on cryptocurrencies, as well as support from major investors like George Soros and the launch of the first exchange-traded fund linked to bitcoin futures.

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