Tech

Shiba Inu hits top 20 crypto coin with a rise of 49%

Shiba Inu ने मारी जबरदस्त उछाल, 49% की बढ़ोतरी के साथ टॉप 20 क्रिप्टो कॉइन में पहुंचा
An unknown whale account has bought 6.3 trillion Shiba Inu tokens, causing a huge jump in the price of the SHIB coin. The value of this mime coin has seen an increase of 49 percent. It has become one of the most traded coins by volume this week. Following this increase, SHIB Coin is the 33rd largest cryptocurrency in the world with a market cap of $8.7 billion (approximately Rs 65,141 crore).

The hike is attributed to one of the ‘Dodgefather’ i.e. Elon Musk himself. Tweet who on Sunday night posted a photo of their pet Shiba Inu, named Floky Frankpuppy, sitting in the open hood of a Tesla. Musk’s recent posts about Floki have led to the birth of a number of new Dodge-style coins.

Shiba Inu and Dogecoin are cryptocurrencies that have been strongly supported by Musk. Hence, the price of SHIB and Dogecoin saw a sharp jump soon after Musk’s tweet on Sunday.

This isn’t the first time something like this has happened. Last month too, Musk shared a picture of Floki and several Floki-themed coins saw a significant increase in prices. Musk isn’t the only one who has bet big on SHIB. Ethereum co-founder Vitalik Buterin donated SHIB worth $1 billion (about Rs 7,486 crore) to India’s COVID-Crypto Relief Fund.

However, this tremendous jump in the value of Shina Inu cannot be attributed to Musk’s tweet alone. On October 1, an anonymous whale account bought approximately 6.3 trillion SHIB tokens in a span of two days. Whale bought 6 trillion SHIB coins worth about $43,838,900 (approximately Rs 327 crore) on the first day. After this, there were three transactions the next day, in which 116 billion coins were bought first followed by 159 billion and 1 billion coins.<!–

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Damini Sharma
Experienced Senior Content Writer with a demonstrated history of working in the information technology and services industry. Skilled in SEO Copywriting, Web Content Writing, Storytelling, Blogging, and Social Media. Strong media and communication professional with a mass communication focused in Journalism from Sjmc davv indore.

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