The Shiba Inu (SHIB) token surged by over 16% in a single day, driven by a wave of bullish sentiment across the cryptocurrency market. While rumors and viral social media posts played a role, the primary catalyst behind the rally was Binance’s official announcement of a new trading pair for SHIB. This strategic move has reignited interest in the meme-inspired digital asset, reinforcing its position among the top cryptocurrencies by market capitalization.
Binance Fuels SHIB Momentum With New Trading Option
In a significant development for the SHIB ecosystem, Binance—widely recognized as the world’s largest cryptocurrency exchange—announced the launch of the SHIB/DOGE trading pair. The new pair went live on November 2, allowing traders to directly exchange Shiba Inu tokens for Dogecoin without converting to intermediary assets like Bitcoin or stablecoins.
This integration not only enhances liquidity but also acknowledges the growing rivalry and cultural overlap between two of the most popular dog-themed cryptocurrencies. By enabling direct trading, Binance has made it easier for investors to speculate on the relative performance of SHIB versus DOGE—a feature long requested by the community.
👉 Discover how major exchange listings can impact altcoin prices and what it means for your next move.
Viral Times Square Hoax Adds Hype
Amid the excitement, a viral image circulated online showing a massive digital billboard in New York’s Times Square featuring a cartoon Shiba Inu wearing a business suit and tie, with the slogan: “We will reach the moon soon.” The image quickly spread across Crypto Twitter, fueling speculation that a high-profile marketing campaign was underway.
However, Silvercast Media, the company that manages several prominent billboards in Times Square, clarified that the advertisement was not real. In an official tweet, they stated: "This is not real, it's a rendering on our Billboard." Despite being a fake, the visual had a tangible impact on market sentiment—demonstrating how perception can influence price action in the highly speculative crypto space.
SHIB Breaks Into Top 10 Cryptocurrencies
The momentum behind SHIB isn’t entirely new. Over recent months, the Ethereum-based token has steadily climbed the ranks, recently breaking into the top 10 largest cryptocurrencies by market cap. At press time, SHIB was trading at approximately $0.00007320, just 15% below its all-time high reached earlier in the week.
This surge allowed SHIB to surpass both Dogecoin and USDC in market valuation—an impressive feat considering Dogecoin’s first-mover advantage and widespread adoption. The shift reflects growing investor confidence in SHIB’s ecosystem development and community-driven initiatives.
Origins and Development of Shiba Inu Token
Launched in August 2020 by an anonymous developer using the pseudonym Ryoshi, SHIB was initially created as a decentralized experiment inspired by Dogecoin’s success. Unlike DOGE, however, SHIB was built on the Ethereum blockchain, giving it access to smart contract functionality and DeFi integrations.
One pivotal moment in SHIB’s history came when Vitalik Buterin, Ethereum’s co-founder, received a large portion of the total supply as a gift. Instead of holding onto it, Buterin donated a significant chunk to charitable causes and burned another massive amount—removing trillions of tokens from circulation. This act helped reduce inflation fears and boosted long-term trust in the project.
Today, the SHIB ecosystem extends beyond just a meme coin. It includes ShibaSwap, a decentralized exchange; LEASH, a deflationary governance token; and BONE, used for community voting and governance within the Shibarium Layer-2 network.
Tesla Payment Rumors Spark Speculation
Adding another layer of intrigue, unverified rumors began circulating that Tesla might accept SHIB as a payment method for its electric vehicles. The speculation originated from a tweet by Sawyer Merritt, a well-known figure in Crypto Twitter circles with over 85,000 followers.
Merritt shared a screenshot suggesting that Tesla’s website source code included references to “SHIBA” under the payment options when inspecting the checkout page. While he emphasized that this wasn’t live functionality and admitted he wasn’t a developer, the post sparked widespread discussion.
A web developer using the alias hendra.eth responded by confirming that the code did indeed reference SHIB as a potential future payment option. Though Tesla has not made any official statements, such leaks often serve as early indicators of upcoming integrations in tech-forward companies.
Understanding the Appeal of Meme Coins in 2025
While critics often dismiss meme coins as frivolous, their rise highlights deeper trends in digital culture and decentralized finance. SHIB and similar tokens thrive on strong online communities, viral marketing, and real utility expansions like NFTs, staking, and Layer-2 scaling solutions.
Moreover, platforms like Binance listing new pairs signal institutional recognition—even if cautiously—of community-driven projects. As more users seek alternatives to traditional finance, assets like SHIB offer both speculative opportunity and participation in a broader movement.
Frequently Asked Questions (FAQ)
Q: Why did SHIB price increase recently?
A: The recent surge was primarily driven by Binance announcing the SHIB/DOGE trading pair, along with viral social media activity and rumors about Tesla potentially accepting SHIB as payment.
Q: Is SHIB built on its own blockchain?
A: No, SHIB is an ERC-20 token originally launched on the Ethereum network. However, it now operates with Shibarium, a Layer-2 scaling solution designed to support faster and cheaper transactions.
Q: Was the Times Square SHIB ad real?
A: No. The billboard image was confirmed to be a fake rendering by Silvercast Media, the company managing the display. Despite being unofficial, it contributed to market hype.
Q: Can I stake SHIB tokens?
A: Yes. Through ShibaSwap and other DeFi platforms, users can stake SHIB to earn rewards in BONE or other tokens. Staking helps secure the network and encourages long-term holding.
Q: Who created Shiba Inu?
A: The project was launched anonymously by someone using the pseudonym Ryoshi. Vitalik Buterin played an indirect role by burning a large portion of the supply, which helped stabilize its value.
Q: Is SHIB a good long-term investment?
A: As with any cryptocurrency, investing in SHIB carries risk. While its ecosystem is expanding, price volatility remains high. Investors should conduct thorough research and consider diversification.
What’s Next for Shiba Inu?
With increased exchange support, active development on Shibarium, and sustained community engagement, SHIB is positioning itself beyond just a meme. Future upgrades could include broader merchant adoption, enhanced DeFi tools, and deeper integration with metaverse and gaming platforms.
👉 Explore upcoming crypto trends in 2025 and see where SHIB fits in the evolving digital economy.
As the line between internet culture and financial innovation continues to blur, projects like Shiba Inu exemplify how decentralized communities can drive real-world impact—one viral moment at a time.
Core Keywords: Shiba Inu, SHIB price, Binance listing, meme coins, cryptocurrency news, Ethereum-based token, Dogecoin rival