Shiba Inu's all-time high breach makes it more valuable than some Indian firms1 min read . Updated: 27 Oct 2021, 06:06 PM IST
- Current with market value of over $23 billion, Shiba Inu coins has been surging all through October
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Shiba Inu is currently valued more than some of the biggest Indian companies as the crypto hit an all time high of $0.0000593 today. The meme-based coin soared to record highs over the weekend to become the 11th-biggest cryptocurrency by market value.
SHIB, as its known, has a current market value of over $23 billion, and the figure is higher than some of India's companies. The coin has been surging all through October, and in the last 24 hours alone, the cryptocurrency has jumped by over 40%.
A petition on Change.org asking Robinhood to list Shiba Inu -- a Dogecoin-inspired meme cryptocurrency -- now has more than 326,000 signatures. On the company’s earnings call Tuesday, Robinhood Chief Executive Officer Vlad Tenev said it’s “carefully" considering adding new coins to its offerings.
Crypto has become more critical to Robinhood’s growth. Last month, the brokerage said it planned to offer crypto wallets, a tool that allows investors to send and receive digital currencies. The waitlist for that product has topped 1 million customers, the company said previously. According to its last filing, 64% of crypto revenue came from Dogecoin.
Trading in Shiba Inu has been volatile on its way up. The crypto slumped earlier this week after Elon Musk tweeted that he didn’t own the coin. In a follow-up tweet, he said he had bought Bitcoin, Ether and Dogecoin, and “that’s it."
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