Shiba Inu touched a record high today

Shiba Inu, the self-proclaimed “dogecoin killer,” was based after Dogecoin and established in August 2020 by someone going by the handle Ryoshi.

It is a meme cryptocurrency, hitting a new high on October 24, reaching $0.00003995 with a 24-hour trading volume of $8,585,097,334. According to the coin market cap, the meme token has gained 36.92 percent in the previous 24 hours.

In terms of volume, Shiba Inu leads the WazirX exchange in India, with Tether and Bitcoin coming in second and third, respectively.

Dogecoin gets modeled after SHIB, the self-proclaimed “dogecoin killer,” established in August 2020 by someone going by the moniker Ryoshi. Shiba Inu is a Japanese dog breed, and the coin gets named after it. When Shiba Inu got first introduced, its mascot, which gets modeled on a Shiba puppy, was dubbed the “Dogecoin Killer.” The currency aspires to be Dogecoin’s Ethereum-based counterpart.

Shiba Inu jumped over 40% in September after, Coinbase, a US-based cryptocurrency exchange, announced that customers can trade, transfer, receive, and store SHIB on its platform.

According to the Shiba Inu website, the founder had locked half of the supply in Uniswap and “burned” the other half to Ethereum co-founder Vitalik Buterin for safety.

The founders of the Shiba Inu coin had already handed Buterin 50% of all Shiba Inu tokens. Buterin claimed that this was the only way to avoid his Shiba Inu trades getting misconstrued as acts.

He had asked that currency developers not transmit large sums of tokens to individuals or charities without their permission, among other concerns.

The increasing demand for Robinhood Markets Inc. to add the Shiba Inu coin to its platform in the cryptocurrency’s ascent to new highs. More than 326,000 people have signed a Change.org petition urging Robinhood to list Shiba Inu, a Dogecoin-inspired humor cryptocurrency. On Tuesday’s earnings call, Robinhood CEO Vlad Tenev said the business is “carefully” exploring adding new coins to its portfolio.

“We feel extremely comfortable about the coins that we’re now displaying on our platform, and we want to feel similarly, if not more, good about any new coins that we add,” Tenev added.

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