The popular meme coin Shiba Inu (SHIB) has seen a surge in price recently. Behind the increase in question was Dogecoin, which was on the rise after Elon Musk’s acquisition of Twitter, and the general market increase. Meanwhile, new developments are also seen in the SHIB ecosystem. In this article, we will describe four important developments for SHIB.
Shiba Inu top 5 in Robinhood
The enormous price increase of the Shiba Inu in the last seven days has caught the attention of users. It has helped the token to rank among the top 5 top cryptos on Robinhood this week. According to the data, SHIB is up 18 percent this week. Thus, it became the fourth highest earning cryptocurrency on Robinhood. cryptocoin.com As we have also reported, Avalanche (AVAX) was right behind Ethereum (ETH) and Dogecoin (DOGE). Robinhood announced this development in a tweet discussing events in the cryptocurrency space this week.
What happened #ThisWeekInCrypto? New UK Prime Minister @RishiSunak is a crypto enthusiast and CBDC supporter, @warnerbros launches NFT-access movies in the WB Movieverse, and an Inflation-pegged “flatcoin” will track cost of living rather than a fiat currency or commodity. pic.twitter.com/MILQHXgRHu
— Robinhood (@RobinhoodApp) October 29, 2022
Coin98, SHIB can be purchased with
Vietnam-based Coin98 Super App (formerly Coin98 Wallet) recently made an announcement that impacted SHIB. A licensed financial institution in collaboration with Simplex has released a new update to its fiat on-ramp feature. This feature will enable its users to buy crypto using more than 100 fiats via platforms like VISA, Mastercard. Meanwhile, supported cryptos include over 170 coins, including SHIB.
1/ With the introduction of @SimplexCC, Coin98 is pleased to release an update on the fiat on-ramp feature.
Users can now purchase 170+ #cryptocurrencies using more than 100+ fiats through a variety of payment options thanks to this link.
Read more 👇https://t.co/ptK2hTIC9o pic.twitter.com/vY3sqr4K4s
— Coin98 Super App (Formerly Coin98 Wallet) (@coin98_wallet) October 27, 2022
The development aims to bring more users to the crypto space. Backed by Nuvei, a global payment technology company, Simplex says it is committed to empowering the entire crypto space with a full fiat infrastructure. Also, the platform added support for SHIB on November 4, 2021.
Second image released for SHIB: The Metaverse
Also, Shiba Inu revealed the second art concept for Dunes, one of the hubs in SHIB: The Metaverse. According to the official Twitter account of the Metaverse project, the second image was posted at yesterday’s Discord meetup. Shiba Inu; WAGMI has previously released concept images for other SHIB: Metaverse hubs such as Temple, Rocket Pond, and Canyon. You can see the latest published work as follows:
Santiment: Shiba Inu gains momentum
Finally, the fourth Shiba Inu evolution came via Santiment’s data. Along with Dogecoin, its closest competitor and second-largest memecoin, Shiba Inu (SHIB), is also gathering. According to historical trends, SHIB price may soon catch up with DOGE’s rally of around 50% on the weekly charts. On chain data provider Santiment used the following statements:
No matter which side you’re on with meme coins like DOGE (44% in 7 days) and SHIB (19% in 7 days), it’s undeniable that they have their pump moments. The Shiba Inu has historically followed Dogecoin pumps. Track the trading volume on our chart.
🐱 Whatever side of the fence your on with #memecoins like $DOGE (+44% in 7 days) and $SHIB (+19% in 7 days), there is no denying that they have had their pump moments. #ShibaInu has historically followed #Dogecoin pumps. Watch trading volume on our chart. https://t.co/XpjFk7Xa4l pic.twitter.com/CoyFK1C4VA
— Santiment (@santimentfeed) October 28, 2022
