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Shiba Inu Surges 70 Percent, Outperforming Dogecoin

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Tue, 10/05/2021 - 05:25
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Alex Dovbnya
Shiba Inu's daily trading volume has eclipsed $5 billion
Shiba Inu Surges 70 Percent, Outperforming Dogecoin
Cover image via stock.adobe.com

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Shiba Inu (SHIB) has stunned the cryptocurrency community with its stellar really, soaring more than 70% within a single day.

SHIB
Image by tradingview.com

SHIB, which was created as a Dogecoin offshoot, has managed to significantly outperform the original canine cryptocurrency, which is currently up 10% over the last 24 hours.

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Shiba Inu has recorded a huge increase in its daily trading volume, which skyrocketed to $5.9 billion, according to coin ranking site CoinMarketCap.

The impressive figure makes it the fifth most-traded cryptocurrency (behind only Tether, Bitcoin, Ethereum, and the Binance USD stablecoin).

CMC
Image by coinmarketcap.com

As reported by U.Today, the cryptocurrency started trading on the Coinbase exchange in mid-September.

Shiba Inu is still down 64% from its May 10 all-time high of $0.00003791. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.