Shiba Inu has truly enjoyed unprecedented growth, with over 922k owners currently on the net
After listing on the Catex Exchange, Coinbase announced that SHIB is available for trade, purchase, sale and deposit for New York residents.
Despite Shiba Inu's growing popularity, the coin did not perform up to its standard, dropping 40% as the cryptocurrency market consolidated.
With a lot of hype surrounding the doge killer, Shiba Inu has emerged as the most talked about cryptocurrency on Twitter.
Created in August 2020 by a person / group under the pseudonym "Ryoshi", Shiba Inu has become one of the most popular cryptocurrencies despite being a meme coin. Modeled after Dogecoin, Shiba has become the most popular meme coin.
Shiba Inu, for many, was the cryptocurrency of the month, racking up more earnings than any cryptocurrency in the top 20. Now in the top 15 cryptocurrencies, Shiba Inu has overtaken Litecoin, Chainlink and Bitcoin Cash. So, how did the doge's killer behave?
Price updates
After breaking through one high after another, Shiba Inu's price dropped nearly 50% as the global cryptocurrency market consolidated in the first week of November. However, SHIBA's price recovered by more than 40%.
The recovery saw the price of SHIB rise from $ 0.0000434 on November 4th to $ 0.00006313 on November 6th. Since then, SHIB's price has dropped 14%.