Shiba Inu, AKA the troublemaker of all cryptocurrencies has been riding up and down the trends like there is no tomorrow!
During the past 48 hours, Shiba has had both a crash and a rally. Learn all about SHIB by reading our “What is Shiba Inu” article.
Shiba Inu Go Down
Okay, let us go step by step to explain all this mess. The date is October 24, 2021. SHIB is up 50% in a massive rally on its way to claim the 11th spot in the ranks. What caused this you might ask? Floki Frunk Puppy. As you might have known, Elon Musk has gone bananas and got himself a Shiba Inu dog. The initial release of the memes caused massive rallies for SHIB.
So far so good. However, the official Shiba Inu Twitter page decided to ask Elon how much of the memecoin he had in his portfolio. And as an interesting turn of events, Elon Replied: None!
Naturally, a swarm of bears took the poor dog apart as a plunge brought the price down for almost 10%. Subsequently SHIB had to settle as the 13th in the ranks by market cap.
Shiba Inu Go Up
Hold your tears my dear readers because this is the moment of Deus Ex Machina. On Sunday, Coinmomo (eye rolls) made the announcement that Shiba Inu will soon be available on Robinhood, the controversial stock trading platform. Following the uncited announcement, the plunge halted and the trend turned bullish.
Sadly however, due to the lack of confirmation from Robinhood, SHIB failed to recover the price to make up for the losses. At this point, SHIB is at $0.00003850 which is still 40% up in one week.
As of today, October 25, Robinhood has not made any official announcement regarding Shiba. Rest assured, the Shiba Army is hard at work on all social media platforms to push the CEO Vlad Tenev into making that decision.
There is currently a petition on Change.org asking Robinhood to enlist SHIB with more than 308,000 signatures.
The Moral of the Story
It seems that Elon Musk tweets are losing their powerful effects as the investors show less excitement.
Call it what you want, a memecoin or a shitcoin, Shiba Inu has been around for a while. The massive fluctuations have made some people rich while others have lost significant amounts of money.
All in all, Investments on Reputable coins such as ADA or Solana and others are standard financial investments. On the other hand, venturing into the funny side of cryptocurrencies and doing it for the memes tends to be more of gambling.
SHIB has climbed the ranks in a unique way that very few others have. In that regard, we are proud to announce that SHIBA INU will soon be available on HiExhange.
HiExchange
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