Shiba Inu’s price is breaking records. Coin capitalization exceeded $ 28 billion

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On October 27, the Shiba Inu token renewed its historical maximum value at around $ 0.000059, its capitalization reached $ 28 billion, according to CoinGecko. Over the past day, the price of altcoin has grown by 36%, over the week – by 105%, writes RBC Crypto.

As a result, the “meme” token has surpassed a number of large companies in value, such as the Japanese automaker Nissan or the South Korean technology company LG Electronics, which have a market value of $ 19.9 billion and $ 19.88 billion, respectively.

Shiba Inu’s price began to climb at a time when the issue of listing the token received a large number of votes ahead of Robinhood’s third quarter financials. The petition for the listing of the altcoin was signed by over 331 thousand people. No decision has been made at the moment.

The Shiba Inu token is called the “Dogecoin killer” by its creators. The project’s website says that its main task is to surpass Elon Musk’s favorite cryptocurrency in terms of capitalization. The Shiba Inu developers claim to have been inspired by the example of the Reddit community WallStreetBets, whose members were able to “accelerate” the value of the shares of GameStop, AMC and a number of other companies.

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