Videos from yesterday show a massive Shiba Inu coin advertisement in New York\u2019s Times Square. Since then, the token has risen double-digits.<\/p>\n\n\n\n
Shiba Inu<\/a> coin, a dog-themed cryptocurrency, has soared over the past 24 hours. The reasons are myriad, with a recent advertisement in New York City likely contributing.<\/p>\n\n\n\n \u201cWe will reach the moon soon,\u201d reads the gigantic digital billboard. Next to the crypto industry\u2019s mantra is a cartoon Shiba Inu dog in a dress shirt and tie, mimicking the Wall Streeters of yesteryear just a 20-minute drive from Times Square.<\/p>\n\n\n\n The promotion comes at a time when all dog coins, including Shiba Inu coin, Dogecoin<\/a>, and Floki Inu<\/a>, have enjoyed a bizarre run of good fortune. Since the SHIB promotion first began circulating on crypto Twitter yesterday, the ninth-largest cryptocurrency has risen a total of 17.3%.<\/p>\n\n\n\n SHIB is an Ethereum<\/a>-based token created by a pseudonymous developer going under the alias of Ryoshi.<\/p>\n\n\n\n Launched in August 2020, it has garnered plenty of attention within the crypto industry in recent months\u2014in no small part due to the indirect involvement<\/a> of Vitalik Buterin, co-founder of Ethereum.<\/p>\n\n\n\n Last week, SHIB broke<\/a> into the top ten of the world\u2019s largest cryptocurrencies, having flipped both Dogecoin<\/a> and the USDC stablecoin<\/a>. The asset is changing hands at $0.00007320 at press time, 15% away from the coin\u2019s all-time high last week, according to CoinGecko<\/a>.<\/p>\n\n\n\n In an interesting twist of events, crypto exchange Binance today announced<\/a> that it will open trading for the SHIB\/DOGE pair, enabling traders to make direct bets on either of the competing coins.<\/p>\n\n\n\n Per the announcement, the SHIB\/DOGE pair trading will open on Tuesday, November 2.<\/p>\n\n\n\n To add a pinch of intrigue, rumors started to circulate that electric car manufacturer Tesla could be adding SHIB as a payment option.<\/p>\n\n\n\n This is what Sawyer Merritt, a well-known Twitter personality with more than 85,000 followers, pointed to in one of his latest posts.<\/p>\n\n\n\n More specifically, Merritt noted that Tesla website source code shows Shiba Inu listed in the \u201cinspect element\u201d section during checkout.<\/p>\n\n\n\n \u201cSo it appears the Tesla website source code shows SHIBA (aka $SHIB) under the payment type section in the code when clicking ‘inspect element’ during checkout. It’s not live however,\u201d he wrote, adding that he\u2019s not a professional coder and that he neither holds any cryptocurrencies.DogecoinShiba InuDogecoin, Shiba Inu Ride the Elon Musk Hype CycleTesla CEO and some-time Saturday Night Live guest Elon Musk has once again shifted the already volatile cryptocurrency markets with a series of tweets, causing the prices of meme coins Shiba I…NewsCoinsLiam J. KellyOct 25, 20213 min read\u2002<\/p>\n\n\n\n