Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Shiba Inu (SHIB): Price Updates, Recent Developments, Future Events, Community

Cryptocurrency Oct 13, 2021 11:00PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Shiba Inu (SHIB): Price Updates, Recent Developments, Future Events, Community

  • Meme coin, Shiba Inu, is a “copyDoge,” turned Dogecoin killer.
  • Shiba Inu broke the internet, gaining over 350% in value in 9 days after Elon Musk Tweeted about the meme coin.
  • Shiba Inu has announced a partnership with to move from its frictional burn system.
  • After a 30 billion SHIB sell-off, Shiba is staging a recovery, gaining 18% over the last 24 hours.

Meme coin Shiba Inu, is a decentralized crypto created in August 2020 by an anonymous person, or entity, known as “Ryoshi.” The project was modelled on the original Dogecoin, and looked to become a Dogecoin-killer itself.

Entering October, Shiba Inu quickly became the crypto of the week after gaining 300% in 7 days. Thanks to the rally, the Dogecoin killer surpassed Litecoin, Chainlink and Bitcoin Cash, entering the top 15 biggest cryptos. So, how has Shiba Inu fared in recent times

Price Updates

Like most meme coins, Shiba Inu (SHIB) remains susceptible to major dumps. On October 7th, SHIB whales dumped over 31 billion SHIB tokens, sending the price down from $0.00003488 to $0.00002128.

The five day price chart for Shiba Inu (SHIB). Source: Tradingview

However, the crypto market is experiencing a resurgence, which has seen SHIBA also stage a recovery. Over the last 24 hours, SHIBA has gained over 18% and is now trading at $0.00003117 at the time of writing.

The 24 hour price chart for Shiba Inu (SHIB). Source: Tradingview

On Shiba’s path to recovery, its trading volume has also peaked by 51.71%. Over $6.13 billion worth of SHIB has been traded over the last 24 hours. Shiba is now ranked as the 17th largest cryptocurrency with a market cap of $12.21 billion.

Recent Developments

Shiba Inu was created as a killer of the original meme coin, Dogecoin, but had not enjoyed the status of being a Doge-Killer until recently. On October 4th, Elon Musk, a popular backer of Dogecoin, tweeted a picture of his puppy, Floki.

Musk’s dog, Floki, Shiba Inu, started the spike since SHIB is also named after the Shiba Inu breed of Japanese hunting dog. Tesla’s chief Tweeted;

With its recent gains, Shiba Inu celebrated reaching a market cap of $12 billion. What is more outstanding is that SHIB managed the feat in only 14 months, while it took Dogecoin 6 times longer to reach the same market cap.

The Shiba Inu team has not relented, keeping up with the growing trends in the crypto space, and has consistently announced new updates to the ecosystem.

On October 7th, Shiba announced a partnership with to facilitate the burn of a percentage of tokens in each transaction. Following the partnership, a percentage of every token in the Shiba Inu ecosystem will be burned through every transaction, beginning with SHIB.

Before the announcement, Shiba Inu operated on a fractional burn system. This system was greatly criticized by its community because burning a considerable percentage of SHIB will take years. While the details of the new burn mechanism haven’t been revealed, the Shiba Community has welcomed the development. Frank wrote;

Future Events

On October 8th, one of the leading crypto exchanges, Bitpanda, announced that it had listed SHIBA on its platform. Trading opened on the same day, with a total of €10,000 for the 3 top traders of SHIBA on Bitpanda.

The trading competition will run between Friday, October 8th and Sunday, October 17th. To qualify, one must trade SHIB worth over $100 within the period. The winner will be announced on October 22nd and will earn €5,000 worth of SHIB.

One of the most anticipated events on the Shiba Inu network is the launch of NFT Shibas, or Shiboshi, as they are known on the network. According to the announcement, there will be 10,000 Shiboshi NFTs on the network very soon.

While there are no dates regarding the launch of the NFT collection, users will be able to buy them on Shibaswap when they launch. Following the launch, holders will be able to sell Shiboshis on secondary markets like OpenSea.

On The Flipside

  • The Shiba Inu project has come under criticism from market analysts as SHIB continues to explode.
  • The project has been likened to pump and dump schemes, where the project offers little to no value.
  • Attention has been drawn to Dogecoin, a fellow meme coin that is down 68% from its ATH.


Shiba Inu has one of the biggest communities amongst crypto projects. On October 6th, the project celebrated 1 million followers on Twitter (NYSE:TWTR). The Dogecoin-Killer also has 269K members on Reddit, 111K on Discord, and over 28k subscribers on Telegram,

From scouring the internet, the DailyCoin team discovered that the Shiba Inu community, or the Shiba Army, as they like to refer to themselves, are full of optimistic individuals who are cheering SHIB on to become the biggest crypto, after Bitcoin and Ethereum.

Crypto analyst, @DelCrxpto, wrote on Twitter;

Popular Youtuber and Shiba follower, @Yourpop8, Tweeted;

Why You Should Care?

Shiba Inu is changing the narrative for meme coins. Once labelled a valueless token, the team behind Shiba Inu has built an ecosystem that stays up to date with the crypto trend, made evident by the coming launch of NFTs on the network.


Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Shiba Inu (SHIB): Price Updates, Recent Developments, Future Events, Community

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email