New Delhi: The cryptocurrency market is full of speculation due to its decentralised nature. Popular meme crypto Shiba Inu (SHIB ) jumped around 20 per cent in the last 24 hours. Notably, other popular cryptocurrencies such as Bitcoin, Ethereum, and Solana did not fetch much profit.
Now, the question arises why did Shiba Inu increase so much? How will the jump help investors?
Before we dive into details, let’s check a few important details.
Shiba Inu price chart
Shiba Inu is now trading at $0.00002753 after climbing by over 20 per cent. Following the latest recovery, the previous data on the cryptocurrency is showing a positive sign.
Currently, the market dominance of SHIB is at 0.76 per cent. Notably, the meme-based coin surged by 27.2 per cent.
Why Shiba Inu crypto jump
The latest rise of Shiba Inu is associated with the Robinhood exchange. The brokerage app on Tuesday announced that it has listed the popular meme token on its platform.
This reportedly helped the cryptocurrency to register a jump in its value.
Shibu Inu’s future looks bright
Shibu Inu is said to be created by an anonymous user, Ryoshi, around August 2020. Notably, it is used to trade at $0 a year ago. Now, it has jumped to 15151.3 per cent in one year.
Based on its popularity and market data, experts suggest Shiba Inu has a bright future. Currently, Shiba Inu’s creators are working to build their own metaverse which will be known as ”Oshiverse”.
Recently, the tweeter account of Shiba Inu crossed 3 million followers.
Market experts suggest that the current trend will invite people to invest in Shiba Inu, helping to hike further.