All major cryptocurrencies are plunging as enthusiasm for Bitcoin exchange-traded funds (EFT) has cooled, but Shiba Inu Coin, a representative meme coin (popular coin), is skyrocketing by about 70%.
Shiba Inu Coin recorded a record of $0.00007732, up 64.37% from 24 hours ago on CoinMarketCap, a global coin market relay site, at 6 am (Korean time) on the 28th. The Shiba Inu coin had soared more than 70% a few hours ago and soared to $0.00008685.
The reason why the Shiba Inu coin is soaring is explained by the fact that cryptocurrency investors are petitioning Robinhood, the leading US stock trading app, to take action so that the Shiba Inu coin can also be traded.
They flock to the global petition site, change.org, to file a petition like this. More than 320,000 people signed it. Not only that, they are also conducting online protests on Twitter.
Robinhood allows transactions with representative cryptocurrencies such as Bitcoin, but does not allow transactions with memecoins such as Shiba Inu.
Earlier, the Shiba Inu coin plummeted by 15% on the 24th, when Tesla CEO Elon Musk officially denied that he owns the Shiba Inu coin. However, it overcame it and is on the rise again.
The coin suddenly came into the limelight after Musk posted a picture of a Shiba Inu dog on his Twitter on October 7th, saying, “Floky has arrived.”
As the Shiba Inu coin skyrocketed, its market cap once overtaken the original meme coin, Dogecoin. However, as the Sibainu coin narrowed its rise, the market cap returned to its original position.
As of 6 am on the same day, Dogecoin was ranked 10th with a market capitalization of $32 billion, and Shiba Inu Coin was ranked 11th with a market cap of $29.8 billion.
