Shiba Inu Coin Price Soars to Record High After Robinhood PetitionIn the last 24 hours, the price has surged over 32%.
ByAmanda Breen•
The Shiba Inu (SHIB) coin price skyrocketed to a new high of $0.00005863 today,per CoinMarketCap.
Shiba Inu coin, named for the memeified dog breed, is the joke spin-off of the popular cryptocurrencyDogecoin (DOGE). Today's record-breaking price comes after aChange.org petition requested that Robinhood list the coinon its trading platform. The petition has received 334,500 signatures so far.
Shiba Inu's price began to surge over the weekend after SHIB community Twitter account @ShibaInuNewsshared a screenshot of a surveyRobinhood circulated regarding SHIB's potential listing. On Sunday, the coin saw aninitial all-time high of $0.00004442, up 60%, and became the 13th-largest cryptocurrency by market cap. The pricejumped to $0.00004853on Tuesday.
Related:Elon Musk Sends Crypto Coin Plummeting: 'True Value is Building Products'
Now, Shiba Inu is the 11th-largest cryptocurrency with a market cap of $21.5 billion.
On Monday,a crypto whale(someone who owns vast amounts of crytocurrency, typically millions) bought $11.5 million worth of SHIB tokens, further accelerating the coin's price increase.
Dogecoin also surged over the weekend, shooting up 8% after Tesla and SpaceX CEOElon Musk tweeted about the tokenon Saturday. It's not the first timeMusk's tweets have significantly shaken up cryptocurrency markets.
Related:Elon Musk Posts Sexual Bitcoin Meme and Sends Twitter Into a Frenzy
