Shiba Inu Cryptocurrency Price Jumps 27% – Here’s Why

Shiba Inu has been one of the best performing meme coins as the cryptocurrency mania gains momentum. It even overtook Dogecoin and became the 9th most valuable cryptocurrency in the world at one time. However, since then Dogecoin has reclaimed the top spot and Shiba Inu was having a hard time. But say no more!

Shiba Inu crypto price saw a 27% rise recently and the reason is not tough to find out! There are two major reasons why Shiba Inu jumped by 27%.

Two Major Reasons

1.) A major U.S cryptocurrency exchange Kraken has said that it would add support for Shiba Inu on its platform. This means people would be able to buy and sell SHIB on the Kraken platform.

2.) Shiba Inu became an accepted mode of payment at e-tailer Newegg. “We are always looking for ways to innovate the shopping experience on, and something our customers want is greater flexibility and options, including the ability to pay with a wide range of cryptocurrencies,” said Andrew Choi, the director of brand marketing at Newegg.

Shiba Inu Popularity

As the meme-coin rose in popularity, many speculators jumped on the bandwagon. American theater chain AMC also unveiled plans to accept SHIB as a mode of payment.

By the end of 2021, AMC will start accepting Bitcoin, Litecoin, Ethereum, and Bitcoin Cash. Aron also said that Dogecoin will be accepted for all sort of goods and services from the first quarter of 2022. And what about Shiba Inu?

To date, the SHIB cryptocurrency has give returns of 63,740,000% and has a current market cap of over $29 Billion.

The Shiba Inu community on Twitter, Reddit, and other social media handles remains optimistic about the future of their favorite meme-coin and prefers ‘holding’ the coin rather than selling it.

What do you think about the whole story? Tell us your thoughts in the comments.

Shaheer is passionate about living a life seeking un-ending knowledge, philomath, as you may think of him. He's a student of Finance and a keen observer of Business and Indian-Political scenario who takes pleasure to pen down his views and opinions on the same. As his guiding mantra to life, ‘Come what may , life goes on’ helps.

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