Shiba Inu rises 35% while Dogecoin drops 5.8%

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TL;DR Breakdown

• The Shiba Inu token is trading today at $0.000008541 with a rise of 29 percent in 24 hours.
• Cryptocurrencies such as Bitcoin have increased in adoption with the announcements of the Central American governments.

Shiba Inu, one of the most talked-about cryptocurrencies in 2021, is back in trend after increasing its price while Dogecoin collapses during the week. The Shiba Inu is characterized by offering fast transactions, very similar to Bitcoin, only that its purchase value is much smaller.

In a week, SHIB has increased its price by over 24 percent, according to the charts managed by CoinMarketCap. This increase in its value may be due to several factors, mainly because SHIB has been added to several cryptocurrency exchanges in the past month, which increased its adoptions.

Shiba Inu breaks bearish streak

September has brought a bullish streak in tokens like Shiba Inu, Solana, and Cardano. The popularity of these cryptos has initially not been very good, but something seemed to have changed since the beginning of the month.

SHIB increased its price to $0.000008541 today, September 17, after having a peak of 29.34 percent in the last 24 hours. This positive streak is because the token has grown in value by over 24 percent in one week. With this value, Dogecoin rises to number 47 among the most used cryptocurrencies within CoinMarketCap.

As Shiba Inu rises, Dogecoin is down 0.32 percent in the last week. However, DOGE still has a high price when compared to SHIB, currently positioned at $0.2438. This makes the token remain in position number 9 of the biggest cryptocurrencies.

Intense week in the crypto market

The current impressive Shiba Inu price is only part of what the cryptocurrency market has brought this week. Bitcoin, one of the most valued cryptocurrencies, is trading today at $47,572 with a rise of 4.80 percent in 7 days; this has helped the token reach its latest all-time high in price.

Ethereum continues its bullish race, trading above $3,400 with a price rise of 4.77 in the last seven days. Both cryptos were recovering from the slide in June when they lost over 50 percent of their value.

All these price hikes like Shiba Inu’s are attributed to people and governments increasingly accepting cryptocurrencies. Bitcoin is one of the most benefited in September after the El Salvador government approved it as legal tender.

Other countries, such as Honduras, Panama, and Brazil, will adopt cryptocurrencies, including their volatility. However, not everything is perfect in the cryptocurrency market because regulations in China, the United Kingdom, and the United States still follow.

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Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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