Shiba Inu is a decentralised digital token that has recently performed exceptionally well.Their has been on a record rally in recent sessions, gaining over 70% in early trades and currently trading at $0.00007139, up 38% in the last 24 hours. With a market cap of around $40 billion, it is currently the tenth-largest cryptocurrency.
Trading in Shiba Inu has been volatile on its way up. The crypto slumped earlier this week after Elon Musk tweeted that he didn’t own the coin. However, the growing clamor for Robinhood Markets to add the Shiba Inu coin to its platform is helping boost the cryptocurrency to record highs. Its price is up around 145% in the last seven days.
Other developments and projects surrounding the token have added to its value and attracted the interest of other investors, which is why the token continues to rally despite the current market movement.