It Seems That The Meme Coin Has Also Found Solid Ground For A Massive Price Rally

Despite a wave of positive weekly price sentiment across the crypto sector, few currencies have the chance to pat themselves on the back with a 40% price increase. Shiba Inu (SHIB)’s price exploded in the past seven days, recording a 43.53% price increase and a massive surge in trading volumes.

In fact, SHIB managed to outperform the entire crypto sector, except for Bitcoin and Tether, to rank as the third most-traded crypto for October 24. Furthermore, the meme coin managed to flip the second-largest crypto to date, Ethereum, in terms of daily trading volumes with Shiba Inu’s 24-hour trading volumes coming in at around $16.4 billion, while Ethereum’s 24-hour trading volumes sit around $15.3 billion.

The trading volume increase also managed to spark a chain reaction of events for Dogecoin’s little brother. Fore and foremost, SHIB became the most traded asset on the spot trading market on Binance and the most traded crypto on Coinbase. The trading push skyrocketed SHIB’s price to its all-time high of $0.00004442, before dipping back to $0.00003945 as of press time. Despite the dip, the community is now all hyped up about a further price increase for SHIB, as SHIB has gained by over 435% in one month, which makes it the top gainer of the pack.

Тhe hype train for Shiba Inu may be far from over, since rumors of Robinhood may list SHIB are intensifying. Furthermore, a petition asking Robinhood to list SHIB on its platform already gathered 300,000 signatures and 750,000 active SHIB holders.

However, the idea of such a petition is not new - it started back in May, during the peak of the “Altcoin season”, gathering 150,000 signatures before slowing down. Tristan Luke, who started the petition, did not yet comment on the milestone but commented on SHIB’s petition after reaching 200,000 signatures.

“230,000 signatures, and still running. Congratulations guys. You did it. Webull has gotten there first, and already listed Shib. All indications are that Robinhood will soon follow.”

Despite the ongoing positive wave, one of the world’s most influential persons to date, Elon Musk, responded on Twitter that he holds zero SHIB.

Furthermore, Musk added fuel to the fire commenting that “lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge.”

“They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.” Musk added on Twitter.

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