Press "Enter" to skip to content

Shiba Inu Coin Seeing Raging Popularity In India But Still Slumping Today: What's Going On?

Shiba Inu (CRYPTO: SHIB) traded 4.9% lower over 24 hours at $0.00004563 early Wednesday morning.

What’s Moving? SHIB has risen 16.19% over a seven-day trailing period. The self-described Dogecoin (CRYPTO: DOGE) killer’s  24-hour trading volumes rose 14.87% to $7.4 billion, as per CoinMarketCap data.

SHIB fell 5.56% against Bitcoin (CRYPTO: BTC) and declined 11.22% against Ethereum (CRYPTO: ETH) over 24 hours. 

In a 90-day timeframe, SHIB has gained 533.56%, while it has fallen 48.4% over 30 days.

SHIB rose to an all-time high of $0.00008845 in October and at press time traded 46.55% below that mark.

See Also: How To Buy Shiba Inu (SHIB)

Why Is It Moving? SHIB fell even though major cryptocurrencies rose at press time as the global cryptocurrency market cap rose 2.84% to $2.64 trillion.

SHIB was the third-most mentioned cryptocurrency on Twitter at press time, as per Cointrendz data. It attracted 2,291 tweets. The token also trended on CoinMarketCap.

A number of factors have been contributing to SHIB momentum this week, including its listing by Kraken, a major cryptocurrency exchange.

The coin has hit one million users this week. Another factor working in its favor is a partnership on a non fungible token game involving an executive from Activision Blizzard Inc (NASDAQ:ATVI). 

Earlier, Newegg Commerce Inc (NASDAQ:NEGG) said it was adding SHIB for payments. 

Meanwhile, SHIB has emerged as the top trending coin in India, while it was the most discussed cryptocurrency on Twitter globally in October, as per data from ICO analytics.

Read Next: Ethereum Outshines Bitcoin, Shiba Inu Leaves Dogecoin In The Dust — Are We In For An ‘Explosive’ Alt Season?

This post was originally published on this site

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *