What's Pushing Shiba Inu Higher Today?

Shiba Inu SHIB/USD traded 4.29% higher at $0.00003911 over 24 hours leading up to Sunday night.

What Happened: The self-described Dogecoin DOGE/USD-killer has fallen 10.41% for the week. 

SHIB fell 1.5% against Bitcoin BTC/USD and 2.44% against Ethereum ETH/USD over 24 hours.

Over the last 30 days, SHIB has declined 47.4% but has risen 476.31% over a 90-day period.

The meme coin touched an all-time high of $0.00008845 in late October and is currently trading 55.72% below that level.

See Also: How To Buy Shiba Inu (SHIB)

Why It Matters: SHIB’s 24-hour appreciation was steeper than rival DOGE at press time. DOGE was up 2.34% over the period.

Major coins staged a recovery Sunday evening after falling sharply over the weekend plagued by fears related to the Omicron variant of the COVID-19 virus. The global cryptocurrency market cap rose 5.38% to $2.57 trillion at press time.

Shiba Inu weathered the cryptocurrency meltdown on Friday relatively better than rival cryptocurrency DOGE and other major coins.

SHIB attracted 2,694 tweets in comparison with DOGE’s 4,185 tweets at press time, as per Cointrendz data.

The three most mentioned coins were BTC, ETH, and Solana, which attracted 10,354, 6,497, and 4,769 tweets, respectively.

SHIB remains ahead of DOGE in terms of Twitter mentions in November and was the second most mentioned coin this month, as per data shared by CryptoRank platform on Twitter.

SHIB has since been buoyed by a number of recent developments. On Sunday, it was reported that David Volk, a former vice president of technology at Activision Blizzard Inc ATVI, will partner with the project on a non fungible token or NFT game and that metaverse was in the works.

Tech retailer Newegg Commerce Inc NEGG confirmed on Twitter over the weekend that it was adding SHIB. The company already supports BTC and DOGE as payment options.

Read Next: Elon Musk Supports View That Dogecoin Hodlers Need To Be Wary Of Leveraged Trading

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