How Much Is Shiba Inu Worth Right Now?

How Much Is Shiba Inu Worth Right Now

If you’re wondering how much Shiba Inu is worth right now, look no further than the coin’s 24-hour trading volume. It’s worth $570,751,222 dollars and is available for trade anywhere. Listed below are some of the important facts about Shiba Inu. Read on to learn more about the coin’s history, price surge, and most recent transactions.

Elon Musk’s interest in Dogecoin

The cryptocurrency has long been supported by a wide range of individuals including Elon Musk. Musk has referred to the cryptocurrency as a “people’s crypto,” and has even announced that Tesla will begin accepting Dogecoin payments for its vehicles. Musk has shown an interest in the cryptocurrency, which was priced at $ 0.010 before he became interested. It’s now worth $ 0.74, which Musk said is “a very good start.” Since then, a lot of celebrities have sprung up in support of Dogecoin, including Elon Musk.

The billionaire inventor has been tweeting about Dogecoin and recently said that his company will be taking it to “the moon” in 2022. Musk has mentioned memecoins like Babydoge and Shiba Inu in the past, and these mentions have caused memecoins to spike in price. His apparent interest in cryptocurrency is not surprising. Musk has long been interested in new technologies and is the CEO of Tesla. His company holds more than $1 billion worth of Bitcoin. Musk’s recent tweets have made the memecoins more popular than ever.

Vitalik Buterin’s involvement with Shiba Inu

After revealing his plans to donate Shiba Inu coins to charity, Vitalik Buterin sold most of his remaining SHIB holdings, erasing approximately 90% of the currency. The cryptocurrency, worth over $32 billion, is now trading at $0.00007661. However, the timing of Buterin’s donation has created an uproar amongst cryptocurrency investors. He already donated Shiba Inu coins worth $1 billion to the COVID-19 disaster relief fund in India, and left a note confirming this action.

Vitalik Buterin didn’t specify the motives behind his donation, but he did say that the intention was to safeguard the SHIB for future generations. He apparently expected Buterin to sit on the pile of coins, but he had other ideas. His other gifts, for instance, came from Dogelon and the Akita Inu founders. Assuming Buterin’s wallet is open to the public, this gesture may have been a publicity stunt.

Price surge

The Shiba Inu has made a meteoric rise in the last 24 hours, surging 15 per cent to a market cap of $19 billion. Its trading volume jumped 105 per cent. A community-based altcoin, Shiba Inu is dependent on the size of its community more than its utility. Its recent price surge is likely fuelled by rumours and hype.

The success of a project is measured by its users’ inability to recover the tokens they burn. The Shiba Inu has burned nearly four trillion SHIB since its creation. This reduction of 41% has created a negative supply shock – when supply decreases while demand increases. Positive supply shocks help the underlying asset. The SHIB token has seen a price surge, and it’s still far below its all-time high.

Transactions made in last 30 days

Shiba Inu is a cryptocurrency with a limited real world utility. This means that while its prices fluctuate dramatically, it has a relatively short lifespan and isn’t suitable for everyday use. While the Shiba Inu index has climbed nearly 18% from its low on 29 May, this number is still low compared to the past few years. Whether it is a good time to invest in the cryptocurrency or not is largely dependent on the market.

In August of this year, a mysterious hodler purchased SHIB for $3,400. This person purchased SHIB 44 times, the biggest purchase being $3,200. As of September 20, that anonymous SHIB hodler holds 70,202,107,594 SHIB, with a market cap of $5.63 billion. The anonymous hodler’s purchase of Shiba Inu was tracked by Etherscan. On September 2021, the coin was added to the exchange Coinbase. The amount of wETH spent by this anonymous hodler has increased by more than tenfold.

Market cap

When it first entered circulation in 2020, Shiba Inu saw an incredible price rise. The circulating supply of the cryptocurrency is 500 trillion tokens, and the community is growing at a rapid rate. In addition to the rebasing token LEASH, there are two other major cryptocurrencies – BONE and LEASH. Each of these cryptocurrencies has a different market cap, and the total supply of BONE is significantly larger.

The Shiba Inu (SHIB) coin was one of the first coins to adopt the open market distribution principle, which ensures that developers don’t own tokens. In fact, the community contributed 50 trillion Shiba Inu to a fund for India’s COVID-Crypto Relief. In return, Buterin promised to donate the remaining tokens to charity and support long-term initiatives.

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