Shiba Inu (SHIB) had a significant increase earlier today, rising by about 20% to reach $0.000014 on the spot market. The token outperformed other cryptocurrencies in the top ten list, such as Bitcoin and Ethereum, despite being promptly refused access to the $0.000015 threshold.
The token follows the same pattern as most meme currencies during the previous several days. The meme coins have difficulty coping with the worse market this year. However, some losses have been regained as a result of the recent price improvements that were significant.
Additionally, As per data from CoinMarketcap, the coin ranged in price from $0.0000107 to $0.00001270 during the previous twenty-four hours, currently at $0.00001188. Trading volume at SHIB has climbed significantly throughout this period before falling back, reaching $1.4 billion. An inflow of buyers might drive SHIB’s price up due to the positive feeling in the overall market.
Moreover, the barrier level of $0.00002 may be tested by SHIB if it continues its uptrend. Because of the announcement that Elon Musk has acquired Twitter, there is a thriving market for meme coins right now. Shiba Inu may post double-digit gains over the next few days if this positive feeling persists amid a FOMC rally.
Shiba Eternity Isn’t Helping SHIB Anymore
The launch of the Shiba Eternity Game is one of the initiatives that creators and the SHIB community are expecting would assist the cryptocurrency in rising to new heights.
On October 6, 2022, a free mobile card battling game was released on the Android and iOS platforms. It is a component of an ecosystem for the asset that is currently under development.
Related Reading | MATIC Might Touch Level Of $1 After Recent Growth
Nevertheless, the game did not provide the cryptocurrency any impetus to get out of its rut even after it went online. Thankfully, the larger cryptocurrency market had a bullish run over the past several days, which stemmed the bleeding for the digital currency.
Recently, SHIB also inadvertently profited on the announcement of Elon Musk’s Twitter takeover as it profited from the increase in DOGE stock that occurred shortly after the deal was closed this week.
Comments (No)