Shiba Inu, the meme cryptocurrency, has increased in value by about 40% in the previous 24 hours to trade at 0.000039. This is a new all-time high for Shiba Inu.
Inflows of $4.64 billion from $11.02 billion to $15.66 billion from October 23 and October 24 contributed to the new record price.
? $SHIB Reaches All-Time High
The rise comes after a week of mostly positive trading for SHIB, which saw a considerable increase in new users. With a price target of $1, the currency had already onboarded 40,000 new investors as of October 18th.
The coin’s competitor, Dogecoin, started a new surge of interest in meme cryptocurrencies. This also has helped the token rise in popularity among users. The Ethereum-based token competes directly with other well-known cryptocurrencies.
SHIB was the most frequently used non-stablecoin token on the Ethereum network, as previously reported. Before, there were 102.746 unique senders and 66.194 unique receivers in SHIB, for a total of 132.708 distinct users.
The amount of SHIB presently in circulation demonstrates how popular the coin is. Nearly 40% of all Shibu Inu coins now in circulation are owned by the general population.
In spite of the coin’s critics, SHIB has grown steadily on social media, with the coin now having over a million Twitter followers. It’s worth noting that prominent members of the financial sector have been quick to advise investors against buying the tokens.
? Encouragement to list on Robinhood
As $SHIB reaches all-time high, fanatics of the currency SHIB also advocate for Robinhood to list the coin while looking for additional investment avenues. An online petition started by Shiba Inu coin supporters asks Robinhood to list the token. Nearly three million people had signed the petition by the time of publication.
A notable development is the apparent response from Robinhood following their stated interest in listing the token, also known as ‘Dogecoin killer,’ on their platform. According to reports, Robinhood sent emails to customers asking about their crypto preferences, including SHIB.