The dog-themed cryptocurrency Shiba Inu (SHIB) has skyrocketed over the past 24 hours, fueled by Binance's listing announcement and viral rumors of a Times Square advertisement.
Key Drivers Behind SHIB’s Rally
1. Binance Listing SHIB/DOGE Pair
Crypto exchange Binance revealed plans to open trading for the SHIB/DOGE pair on November 2, enabling direct speculation between the two meme coins. This move signals growing institutional acceptance of SHIB, historically overshadowed by Dogecoin.
2. Viral (Fake) Times Square Billboard
A digital billboard in Times Square featuring SHIB’s mascot and the phrase “We will reach the moon soon” went viral—until ad firm Silvercast Media confirmed it was a rendering, not a real ad. Despite this, the hype contributed to SHIB’s 17.3% price surge.
SHIB’s Meteoric Rise: By the Numbers
- Current Price: $0.00007320 (15% below all-time high)
- Market Rank: #9 (surpassing Dogecoin and USDC)
- Ethereum-Based: Created by pseudonymous dev "Ryoshi" in 2020
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Tesla Payment Rumors: Fact or Fiction?
Twitter buzzed with claims that Tesla’s checkout code included SHIB as a payment option. While unverified, developer hendra.eth analyzed the code, calling it a “super interesting leak.” Tesla has yet to confirm or deny.
FAQs
Q: Why did SHIB’s price spike recently?
A: Primarily due to Binance’s SHIB/DOGE pair listing and viral social media hype.
Q: Is SHIB a good investment compared to Dogecoin?
A: Both are highly speculative. SHIB’s Ethereum-based utility and exchange support may offer long-term advantages.
Q: How can I buy SHIB?
A: Major exchanges like Binance and OKX list SHIB. Always research before investing.
Conclusion
SHIB’s volatility underscores the influence of exchange listings and social media trends in crypto markets. While rumors like Tesla payments remain unconfirmed, Binance’s endorsement marks a significant milestone.
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