The Chiba Inu cryptocurrency soared to record levels over the weekend, becoming among the 11 largest cryptocurrencies by market capitalization.
The value of the currency, shortened by the “Shib” symbol, rose by 50 percent within 24 hours last Sunday, according to the “CoinGeco.com” platform, and it continued its jump again, yesterday, Tuesday, reaching 70 percent gains in less than 5 days, and it was traded at 0.00004738. dollars, with a market value of $18.677 billion.
Jonathan Cheesman, head of sales at crypto-derivatives exchange FTX, said low-dollar coins are attractive to individuals because investors can still buy more than 20,000 Sheba units for one dollar.
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Introduced in 2020 by an anonymous person named Ryoshi, the cryptocurrency site notes that it is a decentralized token that has evolved into a vibrant ecosystem.
According to additional CoinGecko data showing that SHIB traded at $0.000000000077 on January 1, 2021, the popular meme or Dogecoin killer is up 57 billion percent.