On October 27, at the end of the day, the Doge/USD pair closed down 7%

On Wednesday, October 27, at the end of the day, the Doge/USD pair closed down 7%, while the SHIB/USD pair rose 64.85%. On Thursday, Doge/USD jumped 44% to 0.2736, while SHIB/USD fell 36% to 0.000057. The price has renewed its all-time high at $ 0.000088.

The creators of the Shiba Inu token call it the "Dogecoin killer". The goal of the project is to surpass Elon Musk's favorite coin in terms of capitalization. Today Shiba Inu is no longer a joke, but something with a capitalization of $ 40 billion. Dogecoin moved up to 10th place, Shiba Inu - to 9th place. Elon Musk continues to signal his support for dogecoin.

Shiba Inu is the most talked about token on the internet. It has generated 1 million tweets as the price continues to hit new highs. The tweet from Morning Brew received 38,600 likes. It tells how the SHIB buyer turned $ 8,000 into $ 5.7 billion. Who is behind this wallet is unknown, but now retail investors are monitoring it to see if the owner of the wallet will take profit or not. Over the past 24 hours, the trading volume has been $ 42 billion.

In the Asian session, the SHIB/USD pair fell 36% to 0.000057. Apparently, someone was fixing the profit. Others were waiting for the fall in order to buy and are now buying back the token that has fallen in price.

As of this writing, the price has recovered 45% to 0.000083. A familiar price pattern, when the first fix occurs, the price quickly retraces to 75-85% and then moves back down. The situation, in terms of its activity and comments, somewhat reminds me of the dispersal of a GameStop share by Reddit investors. There is only one drawback here: the higher the volatility, the more attention the market attracts from regulators.

The demand for tokens could have sparked rumors that the Robinhood app is considering adding a Shiba Inu coin for trading.

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