Bitcoin
BTC$27 087.02

-0.27%

Ethereum
ETH$1 894.54

-0.31%

Tether
USDT$1.000266

0%

Binance Coin
BNB$306.22

-0.05%

USD Coin
USDC$0.999950

-0.01%

XRP
XRP$0.523003

0.07%

Shiba Inu surge continues in October 2021


12 Oct 2021

#SHIBA INU

The price of Bitcoin jumped above $57,600 on Tuesday morning to reach its highest level since 12th May, while most other major cryptocurrencies were nursing losses. The largest cryptocurrency by market cap, Bitcoin, was up by around 1.2% in the last 24 hours with the hope that a Bitcoin ETF will be approved in the coming weeks continuing to play a supportive role. The US Securities and Exchange Commission (SEC) is expected to make a decision on a Bitcoin ETF as early as next week. However, the ETFs currently awaiting approval from the SEC are based on Bitcoin Futures and would not directly invest in Bitcoin.

The SEC chair Gary Gensler has previously signalled support for ETFs that would invest in futures contracts rather than Bitcoin itself, due to increased investor protections.

The approval of a Bitcoin ETF, whether based on futures or through Bitcoin itself, has been previously seen as a major milestone for getting Bitcoin accepted as a mainstream financial asset and will provide access for more people to invest in the cryptocurrency space.

Shiba Inu now 15th largest coin

While other major cryptocurrencies - including Ethereum, Cardano, and XRP - have softened in the last 24 hours, one coin that has continued to rally is Shiba Inu. The dog-based coin has now rocketed to 15th place on the cryptocurrency list by market cap with a market cap of $11.85 billion.

The cryptocurrency has exploded in October, rising almost 300% in the month so far. The rise was helped last week by a tweet from Tesla (NASDAQ:TSLA) CEO Elon Musk, who posted a picture of his puppy, which happens to be a Shiba Inu breed.

Apart from the tweet, there does not seem to be much else supporting the ascent of the coin, which echoes the rise in Dogecoin seen at the start of the year. Dogecoin, which currently sits as the tenth-largest cryptocurrency by market cap, rallied to an all-time high of almost $0.74 in May, before momentum stalled and the price of the meme-coin dropped.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 93.2% 9 $27 087.02 -0.27% -0.06% $525 275 860 361 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 90.4% 5 $1 894.54 -0.31% 2.56% $227 788 525 796 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $1.000266 0% -0.02% $83 174 583 635 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 92.8% 3 $306.22 -0.05% -0.74% $47 726 034 527 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 95.6% 1 $0.999950 -0.01% -0.02% $28 902 979 509 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 77.6% 45 $0.523003 0.07% 10.63% $27 189 376 584 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 94.8% 5 $0.379137 0.78% 2.17% $13 229 654 737 ADA 7 days price change
8 Lido stETH (STETH) STETH Lido stETH predictions 93.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 91.6% 10 $0.072900 0.75% 0.19% $10 178 444 950 DOGE 7 days price change
10 Solana (SOL) SOL Solana predictions 82% 26 $21.28 0.54% 4.16% $8 445 521 119 SOL 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 84.4% 24 $0.902754 0.60% -2.77% $8 377 081 385 MATIC 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 79.6% 41 $0.081565 -3.18% 5.43% $8 293 183 944 WTRX 7 days price change
13 TRON (TRX) TRX TRON predictions 75.6% 46 $0.081676 -3.05% 5.19% $7 366 637 548 TRX 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 79.6% 43 $95.13 0.59% 6.20% $6 951 023 390 LTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 90.4% 7 $5.33 1.27% -0.64% $6 346 171 816 DOT 7 days price change

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