Shiba Inu coin (SHIB), the meme-inspired cryptocurrency, soared to a new all-time high this week, capping an astonishing surge of over 60,000,000% in the past year. The token, which mimics Dogecoin's playful ethos, has become the 11th-largest digital currency by market capitalization, valued at approximately $26 billion.
Key Highlights:
- Record-Breaking Performance: SHIB gained nearly 30% in 24 hours and 100% over the past week.
- Robinhood Petition: A Change.org campaign urging Robinhood to list SHIB has gathered 334,500 signatures.
- Celebrity Endorsements: Ethereum co-founder Vitalik Buterin donated $1 billion worth of SHIB to India’s Covid-19 relief fund earlier this year.
Market Context:
- Bitcoin and Ethereum: Bitcoin hit a record $67,000 last week, while Ethereum continues to dominate smart-contract platforms.
- Regulatory Spotlight: Robinhood CEO Vladimir Tenev emphasized cautious evaluation of new coins amid growing regulatory scrutiny.
FAQs:
Q: Why is Shiba Inu coin surging?
A: SHIB’s rise stems from viral social media campaigns, celebrity backing, and speculative trading.
Q: Will Robinhood list SHIB?
A: Robinhood hasn’t confirmed, but the petition reflects strong retail demand.
Q: Is SHIB a good investment?
A: Like all meme coins, SHIB is highly volatile. Diversify and research before investing.
👉 Discover how to trade SHIB securely
Expert Insights:
Elon Musk’s tweets dismissing SHIB caused temporary dips, underscoring crypto’s sensitivity to influencer commentary. Meanwhile, institutional adoption of Bitcoin and Ethereum highlights a maturing market.
Final Thought: While SHIB’s rally captivates traders, long-term crypto success hinges on utility, regulation, and market stability.