This news is huge. What has tesla and its ceo elon musk, exactly decided about shiba inucoin. Is this the final straw that we have been waiting for this coin? Can shiba inu hit 10 cents today? We wont answer all of these questions in this video, so make sure to stick around until the end, because you dont want to miss out on this. The jewish coin spin off known as shiba inu jumped 30 after tesla chief executive officer, elon musk tweeted. Another picture of this pop late sunday, musks dog named floki, is a shiba inu, which is the namesake of the coin and the iconic dog behind dogecoin on september 12th, musk first tweeted a picture of a shiba inu saying floki has arrived. The latest tweet caused the hashtag ship to start trending on twitter, as retail traders cheered. The price urge the shiba inu coin, which was founded in august 2020 as an ethereum based alternative to deutsche searched in comments on 4chan monday, as well as data shows on twitter. Many noted that the coin deleted a zero from its decimal. Even so, the coin is still worth less than a penny, despite the jump which took it to point one thousand ninety satoshi units in the past year, the shiba inu coin, has surged about eight thousand percent. In a year, according to data, retail traders have been diving into altcoins, such as deutsche coin and chiba inu, as the drastic price swings often bring big payoffs.

Unlike more established coins such as ether and bitcoin, one new york family made a nine million dollar fortune off the parity coin. The elon musk effect, has been a key driver in dramatic cryptocurrency price wings this year and his influence over the crypto market has been huge. Others, including billionaire investor mark cuban and amc ceo, adam aaron, have stepped in to continue hyping up. Dogecoin shiba inucoin was up 32 to 0.2 ‘9 satoshi units in wednesday, as of 10, 25 am et according to data. The token had gained 243 percent over the last seven days, as data has showed. The token was founded in 2020 with its anonymous creator, dubbing it a meme token. It explicitly mimicked dogecoin, a cryptocurrency started in 2013 as a joke that captured the imagination of crypto retail traders. Chiba inu has gained during an upswing in the broader cryptocurrency market, which saw bitcoin top fifty thousand dollars for the first time in a month on tuesday. Yet the token has beaten the rest of the market handsomely with analysts pointing to musks tweet as a catalyst musk on monday tweeted, a picture of his pet shiba inu with the caption floki, frank puppy. The tesla boss is hugely influential in crypto markets and has been a key player in the digital asset boom in 2021. Even his minor interventions have triggered big moves in the crypto markets. The rally has seen chiba inus price capitalization. The total value of the existing coins near 12 billion dollars its now in the top 20 biggest cryptocurrencies according to market data, shebas rise appeared to be lifting dogecoin.

The token that inspired it doge was up slightly to 0.2587 dollars on wednesday having gristened 32 percent. Over the last seven days, shiba inucoin rose as high as 0.35 satoshi units in may, during a search in so called meme. Tokens analysts at the kraken exchange said in a note on wednesday that such a trend could soon take off again. A number of market participants see a rotation back into meme coins or dogecoins as being inevitable, while one could expect capital to flow back into these names. Should fourth quarter prove to be as promising as many expect it to be? Theres no guarantee the momentum holds up in the short term, but what is shiba enocoin, and this question is, for starters: how does it connect to bitcoin lets? Watch these answers together in this video on its website shiba token calls itself an experiment in the centralized spontaneous community building its listed on its own decentralized exchange, called shiba, swap according to binance. The total supply of shiba tokens is one quadrillion, and the current circulating supply is 100. The shiba token website says 50 of the total supply has been locked to unison, a decentralized finance protocol that facilitates automated transactions between cryptocurrency tokens on the ethereum blockchain. The remaining 50 percent was burned to ethereum co, founder vitalik bateran. Everyone has to buy in the open market ensuring a fair and complete distribution where devs dont own team tokens they can dump on the community.

However, according to binance, the top number one number two and number five wallets hold at fifty point: five percent, seven percent and three percent of total supply respectively. The coins mascot is the shiba inu dog, the same breed that represents dogecoin. It has also nicknamed itself the dewish coin killer, but why is shiba inus price rising? Will tesla accept shiba inucoin as a payment method? Can sheba inucoin hit 10 cents within one night? The reason behind shebas price urge shows exactly how volatile meme cryptocurrencies like this can be musk tweeted a picture of his dog thats. It musk bought a petsheba eno in september and called it floki. On monday, he tweeted a picture of the puppy with the caption floki, frank puppy. The tweet didnt even have anything to do with chiba inucoin, but it was enough to send his supporters flocking to buy the coin. Therefore boosting its value. It goes without saying that any currency that can be so heavily influenced by someone tweeting a picture of their dog is far from a stable investment. While such currencies can make you money, anyone investing should be prepared to lose. Everything they put in. Musk has often shown an ability to influence the cryptocurrency market. Even coins as large as bitcoin cryptocurrencies were broadly higher on tuesday afternoon, as bitcoin crossed a key level of 50 000. For the first time in four weeks, bitcoin was up five point. Four percent trading at fifty thousand one hundred twenty dollars ethereum the second biggest crypto by market cap, was up three point: three percent to trade at three thousand four hundred forty five dollars.

The big factor for the bitcoin price now is, if it can continue to move higher and thatll only depend where the price will close today, tuesday, if we do see the price closing above fifty thousand dollars were highly likely to see more upside moves. In addition to this, the outage in the tech space, which is the facebook network going down yesterday, has once again assured investors that technology like bitcoin never goes down. But why is bitcoin back up? One of the reasons for bitcoins recovery include u.s federal reserve, chairman jerome powells statement that stable coins should not be banned. This helped rally the bulls and drag bitcoin prices up from the low 40 thousand dollars. Other possible explanations for the rally include a short squeeze and the end of the historically volatile month of september, plus crypto traders should consider how the proposed 1 trillion bipartisan infrastructure bill in the us will affect crypto markets. If passed, the bill seeks to raise 28 billion from the blockchain sector over the next 10 years to fund infrastructure development such as roads and bridges. A provision in the bill could be used to require cryptocurrency brokers to report their activities to the internal revenue service. The term broker is, however, incredibly vague and doesnt clearly exclude other blockchain participants such as miners wallet providers and software developers. Meanwhile, one analyst has upped his bitcoin forecast and now believes it could hit fresh all time highs of one hundred thousand dollars by the end of 2021.

, nigel green, the ceo and founder of financial advisory organization, devery group, said quote last month, i noted in the media That we can expect the price of bitcoin to hit, or even surpass its mid april, all time high of 65 000 by the end of 2021.. I now think that this is too conservative im, confident that if the current momentum and prices continues, we could see the bitcoin price hit to date, unknown highs of one hundred thousand dollars on powells comments. He said its likely that other digital currencies will have greater regulatory oversight, which also is likely to positively shore up the sector for the longer term, but bitcoin might be seen as a separate case by the authorities due in part to its digital gold like status. He also sees sustained and growing interest from institutional investors, including wall street giants and major payments companies, as well as from mega influencers such as musk, twitter, chief jack dorsey and archinvest. Ceo kathy wood, who believe crypto is the inevitable future of money. Now bitcoin is known to affect all other cryptos, so, along with bitcoin, we might see also shiba inu goa plus there has been a petition going on around for tesla to accept shiba inu as a payment method, and a lot of people have been tagging shiba eno On twitter, along with tesla asking for this acceptance, if this happens along with the hype that we saw today, shiba inu could most definitely fly tonight.