By Oliver Gray
Investing.com - Cryptocurrency memecoin SHIBA INU traded near fresh all time highs on Monday, lifting 8.96% after reaching over a million new traders through its listing on Novadax, Public.com and CoinFLEX in recent months.
For the month of October, SHIB has surged an eye-watering 430%, while Bitcoin and Ethereum added 41.12% and 36.9% respectively. Market participants have piled into crypto markets amid persistent inflation concerns and easing regulatory fears, while last week’s ProShares Bitcoin Strategy ETF (NYSE:BITO) launch also aided sentiment.
Elon Musk has also had a positive influence on Shiba Inu recently after posting his Shiba Inu puppy, Floki on Twitter (NYSE:TWTR). Meantime, according to the recent tweet by a prominent SHIB Twitter account, Robinhood (NASDAQ:HOOD) might be considering adding the meme coin to its list of trading assets.
Among other coins, Binance Coin is down 0.96%, Cardano lost 1.47% while Solana added 0.76%.