Since the beginning of the week, the cryptocurrency market it has underperformed Bitcoin, which had fallen sharply below the $40,000 level. However, most cryptocurrencies have performed well in the last 24 hours and even the flagship coin has regained its $40,000 range.
However, the native token of Shiba Inu, SHIBis among the top 20 cryptocurrencies by market capitalization and the SHIB token is up more than 20% in the last 24 hours.
This 20% increase came after Shiba Inu listed yesterday on Robinhood along with Solana (SOL), Polygon (MATIC), and Compound (COMP). As a result, Shiba Inu SHIB trading volume in the last 24 hours reached 450%.
Reason for Shiba Inu Price Increase
Metaverse Land Bidding Event Live Stream
Today, the Shiba Inu took to Twitter to announce that their Metaverse, a 3-day bidding event for 35,000 pieces of land, is live for the shibarmy. The possibility of this event being sold out is too high as the fans of the virtual world were eagerly awaiting this event.
MilkShake, a member of the Shib community, says that the proposal around the centers, streets and popular areas is gaining more attention. Also, to participate in the bidding process, users will need to have Leash or Shiboshi tokens locked.
To add images and logos of land plots or even rename them in the planned metaverse, SHIB tokens will be used. Interestingly, the metaverse allows you to swap images and rename them more and more and SHIB tokens to be used in this process will be burned to help the community.
ETH Whale adds another 775 billion SHIB
According to WhaleStats, the 12th largest whale on the Ethereum network, “BlueWhale0073” has now made a purchase of 775 billion tokens, marking one of the largest Shiba Inu purchases in recent years.
Previously, more than 393 billion SHIBs were caught by various whales and this happened just before Robinhood tried to list Shiba Inu on their platform.
At the time of writing, the Shiba Inu price is changing hands at $0.00002636 with a jump of 12.47% in the last 24 hours.