Shiba Inu And Axie Infinity Weekly Winners And Bitcoin Rises 26%

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Last Updated on 7 October 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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The developments in the global energy market mean that the first world (aka Europe and North America) are heading towards a pricey winter, which could push the global inequality even further. As we’ve pointed out yesterday already, this comes with dropping stock markets and a rising Bitcoin price.

Yes, in the past seven days alone, Bitcoin gained about 26% and is as of this morning again trading at $54,000. The all time high of $64,000 does not seem impossible to reach anymore. Reason for this rise is Bitcoin’s status as a safe haven untouched by inflation (which according to some in the classic mediasphere is about to turn into stagflation, but that’s another story).

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Shiba Inu surges 337%

Although Bitcoin’s rise over the past seven days was a thing of beauty, it fades in comparison to the absolute winners of the CoinMarketCap top 100. If we look at the coins that have really outperformed in the past week, there are two that jump to front: Shiba Inu and Axie Infinity (which made it to Bloomberg television overnight).

Shiba Inu, the Dogecoin-themed memecoin that is gaining notoriety thanks in part to Elon Musk’s tweets, has gained well over 337% in the past week. Axie Infinity, the coin that combines gaming with the popular world of Non Fungible Tokens (NFTs) rose some 65% after their staking platform launched.