Shiba Inu Coin Hits All Time High; Up Over 45% In 24 Hours Crypto

Shiba Inu Coin Hits All Time High; Up Over 45% In 24 Hours

Author's avatar Shaheer Ansari

Time icon October 24, 2021   | Last Updated: May 17, 2024 at 5:34 AM

The famous meme cryptocurrency Shiba Inu (SHIB) has hit an all-time-high of $0.000040 at the time of writing this article. The crypto token is up 48% in the last 24 hours. The holders of Shiba Inu coin are having a great day today!

SHIB cryptocurrency token was dubbed as the ‘Dogecoin Killer’ and is one amongst the host of dog-inspired cryptocurrencies. Shiba Inu coin came to existence in August 2020 and the founder remains anonymous to date, just like the founder of world’s biggest cryptocurrency Bitcoin.

“New All Time High”

One important fact to notice is that Bitcoin also hit an all-time-high of $66,000 last week. This has prompted a flurry of other meme coins and sh*t coins to soar in value.

The SHIBA Inu community on Twitter and Reddit was celebrating the new ATH as their portfolios were all showing dark green. The official Twitter handle sent out a tweet saying “Amazing! $SHIB reaches A NEW ALL TIME HIGH (ATH) !!!!

While there have been pump and dumps in the past, the Shiba Inu community feels stromger than ever in ‘hodling’ their coins and not selling them.

Shiba Inu Community

According to CoinMarkerCap, the SHIB coin is ranked 13th globally in terms of the market capitalization. It was created to be a better alternative to its dog-themed peer Dogecoin. The project caught instant momentum.

The developer team of the project has also started real-life Shiba Inu dog rescue missions using donations of the community members.

In the initial days, the project got a kickstart from the tweets of celebrities. Tesla CEO Elon Musk and Ethereum co-founder Vitalik Buterin also tweeted in favor of the cryptocurrency.

SHIB coin started out with a supply of 1 quadrillion but the creator has locked away 50% of it in Uniswap and then later burned the remaining half to Ethereum co-founder Vitalik Buterin.

Disclaimer: The cryptocurrency world is highly volatile and any investment decision you make should be on the basis of sound judgment, proper research, and risk-management principles. This is not a financial advise.

Author’s avatar

Shaheer Ansari

Shaheer is a Journalist and Managing Editor at Clout News. His reporting is a medley of finance, crypto, influencers, and entertainment stories.