Bitcoin
BTC$60 335.69

-1.25%

Ethereum
ETH$4 030.06

-1.31%

Binance Coin
BNB$474.52

-1.28%

Cardano
ADA$2.12

-1.73%

Tether
USDT$1.000502

-0.01%

Solana
SOL$190.80

-3.81%

Shiba Inu surge continues


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.


Related

Shiba Inu is now a top-20 cryptocurrency with SHIB price soaring 300% in 9 days
Shiba Inu is now a top-20 cryptocurrency with SHIB price soaring 300% in 9 days
Is Dogecoin set to follow Shiba Inu’s (SHIB) 400% breakout?
Is Dogecoin set to follow Shiba Inu’s (SHIB) 400% breakout?

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 65.2% 74 $60 335.69 -1.25% -1.01% $1 137 507 932 415 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 73.2% 59 $4 030.06 -1.31% 5.72% $475 786 019 548 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 69.2% 62 $474.52 -1.28% 1.85% $79 149 889 886 BNB 7 days price change
4 Cardano (ADA) ADA Cardano predictions 90.4% 13 $2.12 -1.73% -1.58% $69 655 191 496 ADA 7 days price change
5 Tether (USDT) USDT Tether predictions 96% 1 $1.000502 -0.01% 0.05% $69 609 054 760 USDT 7 days price change
6 Solana (SOL) SOL Solana predictions 69.2% 56 $190.80 -3.81% 18.73% $57 421 911 660 SOL 7 days price change
7 XRP (XRP) XRP XRP predictions 73.2% 49 $1.078861 -0.85% -3.86% $50 648 592 354 XRP 7 days price change
8 Polkadot (DOT) DOT Polkadot predictions 60.4% 82 $42.19 -3.42% 1.79% $41 670 216 981 DOT 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 68.8% 60 $0.255430 3.67% 8.21% $33 672 761 779 DOGE 7 days price change
10 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $1.000548 -0.03% 0.06% $32 583 516 990 USDC 7 days price change
11 Terra (LUNA) LUNA Terra predictions 66.4% 63 $40.90 -4.44% 11.32% $16 419 803 112 LUNA 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 54.4% 92 $0.000041 24.31% 59.38% $16 011 554 148 SHIB 7 days price change
13 UniSwap (UNI) UNI UniSwap predictions 79.6% 43 $25.76 -2.39% -2.03% $15 758 219 755 UNI 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 70% 61 $63.71 -2.56% 13.02% $14 034 795 800 AVAX 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 75.6% 50 $29.75 -3.41% 11.29% $13 715 227 505 LINK 7 days price change

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