Coinnerd Weekly Wrap: October 30, 2021 – November 5, 2021

This weekly wrapup for crypto covers noteworthy news between October 30, 2021, to October 5, 2021. Please note that crypto values are volatile and the value presented here may not be accurate by next week or even the next couple of days.

Ethereum Goes Pass $4500 in Value This Week

The facts

• Ethereum which is the second-largest cryptocurrency in the world keeps on growing to reach a new all-time high at $4,642.48.
• This all-time high value might grow even larger by next week if the value of Ethereum keeps growing. 
• This exceeds the estimated $4500 estimate that some crypto enthusiasts predicted. 

Why it’s relevant

• Being the second-largest cryptocurrency in the world many investors are hoping Ethereum keeps its place and grows over time. Having it reach a new all-time high is very good news especially for those who’ve invested thousands of dollars in Ethereum.

Shiba Inu Coin surpasses its predecessor meme cryptocurrency Dogecoin

The facts

• The Shiba Inu Coin is a recent cryptocurrency created in 2020 as a fellow meme crypto-like Dogecoin. They both pay homage to the famous Shiba Inu meme “Doge” using Doge’s face as their logo.
• The Shiba Inu Coin is dubbed as the “Dogecoin” killer and it could be true with its volatility and growth.

Why it’s relevant

Despite being a meme, Dogecoin is still one of the top cryptocurrencies in circulation. Having another meme coin reach it in value or utility might mean that it might soon be replaced by a newer meme coin with better potential.

Please take note that the Shiba Inu coin is very volatile and as of November 4, 2021, its value has dramatically decreased from its all-time high of $0.00008845 to as low as $0.0000589 so it has great potential but it poses big risks as well thanks to its escalating volatility.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.