This crypto investor has turned a small $8000 investment into a stunning $5.7 billion thanks to Shiba Inu's relentless price climb in October. According to today's Morning Brew:
Over the previous week, Shiba Inu has been constantly setting new all-time highs. Shiba Inu (SHIB) is up 41% as of press time, trading at $0.000074 and becoming the world's seventh-largest cryptocurrency by market cap, bucking the broader crypto market slump.
Tanks for Shiba Inu Exchange
According to Santiment, an on-chain data source, the overall supply of SHIB coins on the exchange has dropped to a four-month low. SHIB is currently up an incredible +174 percent in the last week, as 'diamond-fisted' hodlers continue to get rewarded, according to the data provider. As more traders move coins safely into cold wallets, ShibaInu's supply of coins available on exchanges continues to decrease.
Shiba Inu, a meme cryptocurrency, has made significant gains this month and has recently become the buzz of the crypto town. It's been a blitzkrieg to get to the top ten crypto list.
It's tough to determine whether Shiba Inu will continue its climb from present levels after such massive gains this month. Shiba Inu (SHIB) has surpassed some of the major players in terms of 24-hour trading volumes, reaching a whopping $40 billion.
The trading volume of SHIB has nearly equaled that of Bitcoin.
The post This Crypto Wallet Increased the Value of Shiba Inu (SHIB) from $8000 to $5.7 Billion in Just 200 Days originally published on Coingape.