The Shiba Inu Coin (SHIB), which has risen by almost 45 percent in the last 24 hours, has once again stunned the cryptocurrency world. The coin is trading at $0.00001264 as of Tuesday, with a market valuation of $4,987,163,972 after rising by 49% since 4th October, Monday. This however did not affect the prices of all the other major cryptocurrency market prices that remained almost the same, with only a minor uptick in the values of the other coins.
The coin has risen in value following a tweet from Tesla CEO Elon Musk. This has happened even before. After Musk shared a photo of his new pet dog dubbed 'Floki,' the price of Shiba Inu surged in a matter of minutes. On 4th October Monday, Musk tweeted another photo of the puppy with the caption "Floki Frunkpuppy," causing the token's price to skyrocket once again.
Have a look at the post:
Floki Frunkpuppy pic.twitter.com/xAr8T0Jfdf— Elon Musk (@elonmusk) October 4, 2021
Ever since the value of the coin shot up, netizens have taken to Twitter, as they tweet about how 'Dogekiller Shiba is the future'!
Have a look at a few reactions:
End your day by buying more #shiba thank me later 🗣— @cyrpto2050 (@cyrpto2050) October 4, 2021
Shiba Inu, also known as Shiba Token, is a decentralised cryptocurrency established by an unknown person or persons identified only as "Ryoshi" in August 2020. The dog pictured in the Dogecoin's symbol is a Shiba Inu, a Japanese word for a breed of dog. Dogecoin was created as a joke cryptocurrency based on the Doge meme.
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