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129 shares, 342 points

Popular meme coin Shiba Inu (SHIB) broke a record on the morning of October 24, reaching an all-time high (ATH) above $0.00039. The coin has also become the most traded crypto on Coinbase. Cryptocoin. com we are examining the details…

Popular meme coin reaches ATH

According to CoinGecko data, the Shiba Inu reached $0.00003953, breaking the record for the first time since May 11. This record was seen about an hour ago. SHIB has experienced an increase of 37 percent in the last 24 hours and 50.9 percent in the last 7 days. SHIB has also seen an increase in market value as a result of the price increase. The meme coin, whose market value has risen to $19.3 billion, seems close to being among the top 10 cryptocurrencies.

Source: CoinGecko

On the other hand, Dogecoin (DOGE), which is considered the ancestor of meme coins, is trading well below its peak on May 8. Ranking 9th with its market value, DOGE has a market value of $32.6 billion – time will tell whether SHIB will surpass DOGE.

Why is SHIB rising?

On the other hand, CoinMarketCap data shows that Shiba Inu has become the most traded cryptocurrency on Coinbase. Shiba Inu; It has recorded a trading volume ($1,078 million) on Coinbase, which is more than the daily volume of major cryptocurrencies such as Ethereum (ETH), Bitcoin (BTC), and Solana (SOL) combined.

So, what developments made SHIB so high? Shiba Inu has been rising amid constant rumors that online brokerage giant Robinhood is preparing to list the token. Robinhood rival, on the other hand, is Public. com added SHIB support on October 20.


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