Shiba Inu Token Prices Rise and Crypto Competition is Increasingly Fierce

Lovata Andrean

Shiba Inu Token Prices Soar and Crypto Meme Competition Gets Fierce
Shiba Inu Token Prices Soar and Crypto Meme Competition Gets Fierce

Rancakmedia.com – The competing crypto memes between Shiba Inu (SHIB) and (DOGE) are becoming increasingly fierce. Token price Shiba Inu (SHIB) has surged 81,4 percent in the last 24 hours. The spike was triggered by a tweet by Elon Musk who tweeted a photo of a dog inside a Tesla vehicle on Sunday evening.

As Musk revealed in his Twitter post that his puppy of the Shiba Inu breed is called Floki. On September 12, Musk also tweeted that “Floki has arrived.”

After the Tesla and SpaceX leader posted on Sunday evening, the hashtag #SHIB suddenly trended on Twitter. The soaring price of Shiba Inu (SHIB) exceeded DOGE which only rose 18,3 percent in the last 24 hours.Shiba Inu Token Prices Soar

For your information, the Shiba Inu token was created in August 2020 and is nicknamed "The Dogecoin Killer". This shows that the competition is for memes crypto is heating up.

Both developers also continue to improve the usability of their respective coins. Dogecoin has been linked to the game DogemonGo, also allegedly aiming to bridge Dogecoin and Ethereum. They are also reportedly entering the NFT space.

Meanwhile, Shiba Inu has successfully launched ShibaSwap some time ago. The latest information, SHIB developers are developing their own blockchain called Shibarium.

With the growth of the Shiba Inu token, the crypto meme created by Ryoshi managed to remove a single zero in its price, from a price of US$0,00000805 on October 3, 2021 to US$0,00001851 on October 5, 2021. SHIB jumped 81,4 percent on the previous day . .

If translated into rupiah, the price of Shiba Inu is still below Rp. 0.1. In late 2020, after being listed on US crypto platform Coinbase, the Shiba Inu (SHIB) token soared 8.000 percent.

FAQ

The following is a question and answer session regarding the article that we discussed previously.

Shiba Inu What Network

Shiba Inu runs on the Ethereum network, which used a proof-of-work consensus mechanism but switched to proof-of-stake.

Why Shiba Inu Token Price Dropped

As quoted by Cointelegraph, the price of Shiba Inu plummeted because the majority of cryptocurrency holders moved assets. They usually have a big impact on the price of each transaction. Whales are a term for a number of individuals who hold large amounts of crypto assets.

Conclusion

Shiba Inu Price (SHIB) has surged 81,4 percent in the last 24 hours. The spike was triggered by a tweet by Elon Musk who tweeted a photo of a dog inside a Tesla vehicle on Sunday evening. The crypto meme created by Ryoshi managed to erase a single zero in its price, from US$0,00000805 on October 3, 2021 to US$00001851 on October 5, 2021.

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Lovata Andrean

Hi, I'm Lovata, I'm not Ai but I am a content writer for SEO, Technology, Finance, Travel, Cooking Recipes and others. I hope this can be useful for all my friends. Thanks