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Shiba Inu (SHIB), the self-proclaimed dogecoin killer, tapped lifetime highs on Sunday as bitcoin appeared on observe to snap its three-week successful streak.The meme token traded at $0.0000455 at 11:20 UTC, topping the earlier file worth of $0.0000388 reached on Could 10, in accordance with information supply Messari.Costs have risen by almost 50% previously 24 hours, extending the month-to-date acquire to virtually 500%.SHIB’s newest leg increased from $0.0000270 comes amid rumors that on-line brokerage platform Robinhood could quickly record the cryptocurrency. Costs surged over 200% within the month’s first week on the again of elevated shopping for by whales or giant buyers.The token has picked up a powerful bid 4 days after bitcoin’s transfer to a brand new file excessive of $66,975 on Oct. 20 and factors to an elevated danger urge for food within the cryptocurrency markets.The final SHIB pump noticed in early May additionally got here after bitcoin’s ascent to its then file excessive of $64,888 reached on April 14 and had pundits warning of extreme hypothesis by retail buyers and potential for market-wide correction. Bitcoin and the broader crypto market crashed laborious within the latter half of that month.Whereas SHIB has gone ballistic this month, DOGE has gained simply 27% and nonetheless trades properly beneath its August excessive of $0.35. DOGE hit a peak worth of over $0.73 in early Could.Bitcoin, the highest cryptocurrency by market worth, has chalked up a 37% rally this month on elevated proof of inflation and expectations that the lately launched futures-based exchange-traded funds would convey extra mainstream cash into the crypto market.On the present worth of $60,060, the cryptocurrency is nursing a 2.3% weekly loss. Ought to the decline maintain via Sunday’s UTC shut, it could be bitcoin’s first weekly drop for the reason that third week of September.A failure to finish the week above the earlier peak worth of $64,888 would indicate momentary uptrend exhaustion and maybe a deeper pullback.
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