• Elon Musk is set to become the first DOGE trillionaire, while SHIB reaches a new high and surpasses Ether in terms of trading volume

  • Elon Musk claims that he will be the first DOGE trillionaire.

    Elon Musk’s net worth has now surpassed $249 billion, according to the Bloomberg Billionaires Index, putting him on track to outperform Portugal’s GDP. Tesla CEO Elon Musk believes he will become the world’s first Dogecoin trillionaire. The reason for Musk’s wealth increase is the renewed Tesla rally; shares of the leading e-car manufacturing company reached a new all-time high of $910 last Friday.

    Shiba Inu reaches new highs and surpasses Ethereum in terms of trading volume.

    Sunday proved to be a fantastic day for the Shiba Inu community. For the first time since May 11, the canine meme coin inspired by the Shiba Inu dog has reached a new all-time high, reaching $0.00003940. Shiba Inu has surpassed Bitcoin as the most traded cryptocurrency on Coinbase, according to CoinMarketCap data.

    SHIB didn’t stop there: its trading volume surpassed Ether’s later that day, reaching $14.5 billion. Shiba Inu is currently the third-most-traded cryptocurrency overall (behind only Tether and Bitcoin).

    SHIB has been added to Robinhood’s survey of client cryptocurrency preferences.

    Despite avoiding direct inquiries about listing Shiba Inu, Robinhood may be considering adding support for the meme cryptocurrency in the near future. The popular trading app is conducting a survey to determine their customers’ cryptocurrency preferences. Cardano, XRP, meme-crypto DOGE, and Shiba Inu are among the options available to participants. The community anticipates that Robinhood will add support for trading SHIB soon, with the hope that this will raise the SHIB price to at least $0.01.

    JPMorgan has issued a bearish forecast for Dogecoin and Robinhood.

    According to a Friday note by JPMorgan analyst Kenneth Worthington, the main reason for Robinhood’s vulnerability is low Dogecoin volumes. In Q2, the meme cryptocurrency accounted for 62 percent of the company’s crypto-related revenue. Unlike cryptocurrency-focused trading platforms, Robinhood did not see an increase in trading volumes in October, according to Worthington. This month, Dogecoin is up only 15%, significantly underperforming its canine rival, Shiba Inu.

    On Sunday, nearly 900 million SHIB were burned.

    According to cryptocurrency tracker Watcher.Guru, nearly 900 million SHIB tokens were burned on Sunday. Shiba Inu’s price increased by 16 percent as a result of the extremely positive market sentiment. Despite having relatively low burn rates in comparison to the meme-market token’s capitalization, a substantial amount of SHIB has already been burned thanks to Ethereum’s leading developer, Vitalik Buterin. The total amount of previously burned SHIB is still 500 trillion.

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