Shiba Inu (SHIB) has recorded a +50% price increase in the last 24, making a higher jump than its rival Dogecoin (DOGE) which has risen only 8%.
Shiba Inu (SHIB) and Elon Musk’s vague tweet
At the time of writing, the price of SHIB is $0.00001321 with a total market capitalization exceeding $5 billion.
Shiba Inu recorded a price pump between yesterday and today that exceeds 50%. DOGE also seems to be on a bull run but not at the same level as its “killer”.
Nonetheless, Elon Musk, CEO of Tesla and a big fan of DOGE in the past, has remained vague this time, posting a tweet that makes no specific reference to which of the two crypto memes he wants to support.
Is that doge or Shiba Inu? @elonmusk
— Imtiaz Siddiquee (@tanim009) October 4, 2021
Many crypto-lovers are wondering which of the two crypto memes Musk would now like to support. There are others, however, who think it is Musk’s real dog who he named “Floki” or, others claim it is support for a new token called “Folki”.
In any case, Musk’s current tweets are no longer so supportive of Dogecoin. In the middle of last month, the CEO of SpaceX reportedly even tweeted criticisms directed at his beloved crypto-meme.
The criticism concerned the price of DOGE’s fees, which still seem to be too high to even buy movie tickets.
Shiba Inu and the purchase of crypto whales
Another piece of news from the weekend is the movement of the crypto whales and their purchases on Shiba Inu.
Specifically, it seems that last Friday, a mysterious whale bought 6 trillion SHIB for a total of almost $44,000.
Not only that, the next day, the same whale reportedly made three more rounds of SHIB purchases in the space of a few hours: the first for 116 billion SHIB, the second for 159 billion SHIB and concluding with 1 billion SHIB.
This is a total purchase of 3 trillion SHIB plus another 276 billion SHIB, all in two days. This preparation could bring in hype the idea that SHIB is preparing for some news that has yet to be released.
Shiba Inu and Dogecoin: a repeating trend
The prices of the 4-legged crypto memes are repeating a trend that occurred in the middle of last month. In fact, around 15 September 2021, while Dogecoin was fluctuating in price at $0.25, Shiba Inu saw a 35% pump in just 24 hours.
At that time, SHIB was in 47th position by market cap. Now the “Dogecoin Killer” has climbed to 35th position, showing its strides towards its rival.
In the meantime, the crypto meme par excellence placed among the top 10 crypto assets by market capitalization is also looking to make its own developments.
The DOGE-ETH Bridge is in the works for Dogecoin: a plan to make DOGE and ETH communicable and spread the use of this technology to NFT marketplaces.
The post Shiba Inu (SHIB): price climbs +50% in last 24 hours appeared first on The Cryptonomist.
