The dog memecoins have received pumps as both Shiba Inu (SHIB) and Dogecoin (DOGE) see jumps of around 15% in the past day.
Dogecoin And Shiba Inu Enjoy Sharp Uptrend
The whole crypto market has seen some uplift today after what has been several weeks of downwards movement for many of the big coins.
Among the top cryptos, however, two coins immediately standout in their gains, and those being Dogecoin (DOGE) and Shiba Inu (SHIB).
The dog memecoins have seen price uplifts of around 15% since yesterday. Though, both DOGE and SHIB are still in the red over the last month. Nonetheless, this pump can be an important step towards recovery.
At the time of writing, Dogecoin’s price floats around $0.1722, up 10% over the last seven days. The below chart shows the trend in the price of the crypto over the last five days.
The price of DOGE seems to have surged up in the past couple of days | Source: DOGEUSD on TradingView
Earlier in the day, the crypto’s price reached as high as $0.1755, more than a 15% jump over the preceding 24 hours.
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As for SHIB, the coin’s price is currently around $0.00003179, up 7% over the past week. Below is a chart showing how the value of the crypto has changed over the last five days.
SHIB enjoys a pump over the last couple of days | Source: SHIBUSD on TradingView
At its height today, Shiba Inu’s price was trading around $0.00003256, jumping almost 18% over the last day. Since then, the coin has come down a bit.
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The reason behind SHIB’s pump looks to be the rumor that Robinhood might be adding the crypto to its listings as early as next month (February).
Here is the source of the rumor, a tweet from ZeroHedge:
SHIBA INU ROBINHOOD LISTING SAID TO COME AS EARLY IN FEB
this is about 6 months too late
— zerohedge (@zerohedge) January 12, 2022
The Shiba Inu community has been fighting hard to get the platform to accept the memecoin for a while now. So far, the petition on change.org has secured the signature of more than 555k SHIB supporters.
Adoption of both SHIB and DOGE has gained some momentum over the past few months as major exchanges and platforms have started dealing in the memecoins.
Just last month, the tech retailer giant Newegg began accepting Shiba Inu as a possible payment option. The store had already started accepting Dogecoin a while back.
At the time of writing, Bitcoin’s price trades around $43.8k, up 2% in the past week. The below chart shows the trend in BTC’s value over the last five days.
BTC's price looks to have jumped up in the last few days | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com