Tuesday, December 12, 2023

Shiba Inu shoots up with increasing volume: what happened?


  • Shiba Inu breaks its recent range and posts a 3.49% increase, driven by an increase in trading volume.
  • Shiba Inu’s sister tokens have not received much traction following the launch of Shibarium, an Ethereum Layer 2 blockchain.
  • The SHIB community expects organic growth and gradual adoption in the near future.

Shiba Inu (SHIB)’s recent surge early Saturday has caught the attention of the crypto community. According to data from Benzinga Pro, the meme cryptocurrency SHIB/USD experienced one significant increase This marks another episode in its uneven recovery from mid-June lows.

Dynamics of the Shiba Inu

The Shiba Inu, which reversed course after hitting a low of $0.000007195 on Thursday, fluctuated in a defined range. However, it broke this range on Saturday morning and started an uptrend.

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At the last check, SHIB rose 3.49% to $0.000007529, accompanied by a notable Increase volume, which has grown by about 35% in the last 24 hours. This increase in volume has helped the cryptocurrency maintain its positive performance, posting a modest gain of 1.66% over a seven-day period.

Significance of recent trajectory

On the other hand, it is important to note that despite the rise of Shiba Inu, its sister tokens Bone ShibaSwap (BONE) and Doge Killer (LEASH) have not gained much traction following the launch of Shibarium. Shibarium is an Ethereum Layer 2 blockchain designed to attract users to an ecosystem of Low commissions were mainly concentrated in financial services and gambling.

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However, the SHIB community remains positive. They firmly believe that the The project will grow organically and that the acceptance of these cryptocurrencies will gradually increase.

Furthermore, the rise of Shiba Inu highlights the volatility and dynamic possibilities in the crypto world, where an increase in volume can noticeably increase the value of a cryptocurrency in a short period of time.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com/
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