Recently, a very popular digital currency has set the cryptocurrency market on fire. Well, the name of the newly found digital currency is Shiba Inu Coin. The currency is also known by the name of Dogecoin Killer. It’s been only a while that this currency has launched in the crypto market and within a single day, the currency has become the number of choice of many investors worldwide. Well, many of us might be thinking as to what made this currency so popular and has gone viral all of a sudden. An uproar can be seen in the cryptocurrency after the launching of the recently found digital currently.
Within a day, the price of SHIB shown a rise of more than 70% and later on its seventh day, the currency recorded another high of 760%. There are a number of factors that made the price of the cryptocurrency high all of a sudden. The very first reason for the rise in the price of SHIB is the listing of the currency in the Binance. Those who have been trading in cryptocurrency must have known about Binance. Well, Binance is the greatest exchange of cryptocurrency in the world.
After the listing of SHIN in Binance, in no more than a minute, the currency showed a rise of 60% and later the currency showed a drastic rise of 70% on its first day of listing in the crypto exchange. Another fact that became a considerable factor in the price rise of SHIN is Elon Musk. Well, the co-founder of Tesla company. Elon Musk’s favourite investing spot is a cryptocurrency and in fact, he is one of the highest investors in Bitcoin and he has shared on various platforms and interviews that cryptocurrency has a very great future in the coming years.
Elon Musk took over his Twitter handle and tweeted that he wants to acquire Shiba pup. We all are aware that the exchange market works on the basis of speculation and news. and therefore, after the tweet of Musk, various investors have made several conjectures and speculations regarding that in the future Musk might invest in the SHIN. After this tweet, the newly discovered cryptocurrency made an all-time high of USD 0.000028. At present, the net valuation of Shiba Inu Coin is estimated to be USD 6.5 billion and this was the worth on the first day of its listing in the Binance.
If you have a deep interest and love for cryptocurrency just like Elon Musk, then you can buy them on the Uniswap platform. The SHIN currency can only be bought by using Ethereum Cryptocurrency and therefore, Indian investors need to create a crypto digital wallet and thereafter, they have to link it to the Uniswap platform. While the simplest and the easiest way is to download the Binance app and trade on the Shiba Inu Coins. Stay tuned with us, for more such news.
