Shiba Inu SHIB/USD traded nearly 7.6% lower at $0.000035 over 24 hours leading up to early Wednesday morning.
What’s Moving? The Dogecoin DOGE/USD-rival token has risen 6.3% over a seven-day trailing period.
Against larger cryptocurrencies, Bitcoin BTC/USD and Ethereum ETH/USD, it fell 2.4% and 2.3%, respectively, over 24 hours.
Over the last 30 days, SHIB has fallen 11.4%, while over a 90-day period it has risen 394.2%.
See Also: How To Buy Shiba Inu (SHIB)
Why Is It Moving? SHIB traded lower alongside other major coins at press time as the global cryptocurrency market cap fell 3.5% to $2.3 trillion.
SHIB was among the most mentioned coins on Twitter. It attracted 1,577 tweets, according to Cointrendz data.
The three most mentioned coins, Bitcoin, Solana, and Ethereum, attracted 9,215, 4,054, and 3,006 tweets, respectively.
On Tuesday, the Shiba Inu project tweeted the launch of a new “Official Communication Portal.” As per the project, the portal would be the “official medium/line of communication” for the ecosystem.
Meanwhile, more than a billion SHIB were burned over the course of a week with some help from Bigger Entertainment.
Bigger Entertainment is associated with a Spotify Technology S.A. SPOT playlist that burns SHIB with every song that is streamed.
SHIB has a circulating supply of 549 trillion tokens approximately, according to CoinMarketCap data.
Meanwhile, Shytoshi Kusama, a notable Twitter handle associated with Shiba Inu community, tweeted Tuesday that they have not joined another token and don't "promote anything else."
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
