The price of Shiba Inu ($SHIB) has been holding above the $0.00005 mark for nearly two weeks.
The price momentum loss has not made Shiba Inu (SHIB) any less attractive to users. On the contrary, the Shiba Inu (SHIB) market volume surge of $5.6 billion has put the meme cryptocurrency right behind crypto giants Bitcoin (BTC) and Ethereum (ETH).
The enormous increase in trading volume impressed even Shannon Bray, the US Senate Candidate who has lately become quite the Shiba Inu (SHIB) advocate. Bray referred to the impressive spike as a big deal as he took Twitter to comment on the impressive climb. To show his support, Shannon Bray went so far as to make the Shiba Inu his Twitter header picture.
Wow … That's kind of a big deal. Time to check the chart and get some rest. https://t.co/mP1nWQsxEx
— Shannon Bray (@ShannonBrayNC) November 12, 2021
The flash crash of the cryptocurrency market led to Shiba Inu (SHIB) returning to a low of $0.000046 this week but recovered with a price higher than $0.00005. Last month was absolutely spectacular for Shiba Inu (SHIB), having incurred an ATH and a rise of 1,000%. However, Shiba Inu (SHIB) is presently trading at $0.0000525, 50% below the all-time high of $0.000089 it reached during October.
Whether by market capitalization or notoriety, Shiba Inu (SHIB) has overtaken Dogecoin (DOGE) as the most recognized meme cryptocurrency in the year 2021. Though Dogecoin (DOGE) has indeed surpassed Shiba Inu (SHIB) by market capitalization because of Shiba Inu (SHIB) price retracement earlier this month, Shiba Inu (SHIB) supporters believe that Shiba Inu (SHIB) will become the Dogecoin (DOGE) killer and the most prominent meme cryptocurrency.
In wake of its increasing influence, exchanges like Binance, Coinbase, and most recently, CoinDCX, the India-based cryptocurrency unicorn have recently added new Shiba Inu (SHIB) pairs. With the listing on CoinDCX came a new moniker for Shiba Inu (SHIB), here on out otherwise known as the Doge Killer. The hype around Shiba Inu (SHIB) has been quite lucrative, garnering over 1 million users due to the most recent listings.
Even though Shiba Inu (SHIB) has as of late gained support for trading at a spectacular 1,000% increase, it is not merely renowned for that. Many merchants have expressed interest in taking $SHIB as a form of payment, just like they did for Dogecoin (DOGE). AMC Theaters, the world’s largest cinema chain, has also announced that $SHIB will be included as a payment method in the near future.