Shiba Inu Crypto News: Why it is Pumping?

Shiba Inu Crypto News

The most volatile Crypto market is now again boom in google trends. The Shiba Inu Crypto News on Hot Trends keywords in Google. The Search keyword “Shiba Inu Crypto News” is around 10M+ (1 Crore) in Google.

Cryptocurrencies have become the first choice of people in the trading market.

There is an increasing number of investors in the crypto market all around the world. According to the India Today news, Around 1.5 crore Indians have invested in cryptocurrencies, signalling strong cryptocurrency growth in a nation.

The crypto market is extremely volatile and has more fluctuation in its prices. The main reason why people are interested in cryptocurrencies is that the price fluctuation is more, Sometimes in a second, the price increased by over 100%. There is no strong logic behind the price movement, but it depends more on events and whales.

Whales are those individuals that hold large amounts of bitcoin.

Why Shiba Inu Crypto News Trending?

Often cryptocurrencies, which have no reason to be on top, are pumped. Shiba recently pumped in crypto as Dogecoin did in the month of may by tweet of Tesla CEO “Elon Musk”. The same scenario happened with Shiba Inu Coin after the tweet posted by Elon Musk. Musk shared a photo of his new pet dog ‘Floki’ with the caption ‘Floki Frunkpuppy’, prompting a sudden jump in the price of the Shiba Inu Coin.

Shiba Inu Crypto News

However, this massive jump in the value of Shina Inu was not only by Musk’s tweet but also by the whale account who bought approximately 6.3 trillion SHIB coins in just 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. The data have been collected from Gadget 360.

The Shiba Inu Coin is now become the world’s 20th-biggest Crypto by market value and the price increased by approx 300% in just one week after Musk tweet and whales bought. The current price is ₹0.002054 per SHIB. The new price represents a new all-time high of ₹0.002054. The surprisingly Shiba Inu Crypto News searches on top and becomes peoples favourite keywords on Google

According to reports, Unlike Dogecoin, SHIB is not a joke coin. It is an experiment in decentralised spontaneous community building. The creators of Shiba Inu Coin get inspired by Dogecoin. It has allowed the community to create crypto apps like ShibaSwap, a DEX that allows users to trade and stake tokens without an intermediary which Dogecoin can’t. 

The SHIB Token is an ERC-20 compatible with the Ethereum network. The investors predicted or called it will become a “Dogecoin Killer”. Most YouTubers are advised to buy Shiba Inu Coin in a bulk in a bearish market.

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