Shiba Inu Price November 8, 2021 Still Experiences Continuous Decline

Lovata Andrean

Shiba Inu Price November 8, 2021 Still Experiences Continuous Decline 1
Shiba Inu Price November 8, 2021 Still Experiences Continuous Decline 1

Rancakmedia.com – Shiba Inu IDR price now continues to fall after reaching its highest level last October. In November the price of Shiba Inu IDR or rupiah experienced a continuous decline and has not experienced a spectacular price shock.

Today's Shiba Inu IDR price according to Coinmatketcap statistics when this article was published was IDR0.771124 with a 24-hour trading volume of IDR49.828.976.724.022.

Coinmarketcap updates Shiba Inu prices to IDR in real-time. Shiba Inu IDR price has fallen 6,48 percent in the previous 24 hours. CoinMarketCap's current ranking is #11, with an instant market capitalization of IDR 423.420.739.204.015.

Shiba Inu Coin has a supply of 549.095.509.738.353 Shiba Inu coins and a max. supply is not available. As one of the growing cryptocurrencies, Shiba Inu coin is one of the fastest growing coins. Shiba Inu price November 8 2021 is still experiencing a decline

Shiba Inu quickly emerged as a leading cryptocurrency in the last few months of 2021. In fact the Shiba Inu narrative began earlier this year, when entrepreneur and billionaire Elon Musk offered his back to Dogecoin, a meme coin developed as a joke about the emergence of Bitcoin in 2013.

The support pushed this previously obscure cryptocurrency into the mainstream and had one of the biggest hits of all time. This growth spurred interest in other coins based on the same Japanese purebred dog meme that Dogecoin previously took on.

This coin is called Shiba Inu. The originator of Shiba Inu has been nicknamed the Dogecoin Killer. Shiba Inu was developed in August 2020 by an unknown individual or group of people known as “Ryoshi”.

But it remained undiscovered until a few months ago when Musk tweeted a cryptic tweet about Shiba Inu puppies. The tweet implied to investors that he was switching support from Dogecoin to Shiba Inu.

Also, an online petition on Change.org, advocating that Shiba Inu be listed on the trading site Robinhood, received significant support. More recently, it produced a series of non-fungible coins nicknamed “shiboshi.”

All of these factors conspired to increase Shiba Inu's value more than 10-fold in October 2021, while giving it a larger market capitalization than its main competitor, Dogecoin. The price of Shiba Inu coin is rising and this also places it among the top 10 cryptocurrencies according to m-cap, ranking ahead of Dogecoin, at least until October 2021.

While Shiba Inu and Dogecoin have lost their gains since then, the decline was harsher for Shiba Inu as we hit November. Shiba Inu coin experienced a decline as we entered November 2021. Its market capitalization has fallen from $40 billion to $30 billion in a week.

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Lovata Andrean

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