What’s Happening With Shiba Inu Price? Huge Gains Coming
Release: 2024/05/04 15:39 Reading: 721
Shiba Inu Surges Amidst Market Turmoil
Shiba Inu stands out as one of the few cryptocurrencies to defy the recent market downturn, posting significant gains over the past 24 hours. After days of decline, the token has embarked on a recovery path, mirroring the trend observed in other meme coins.
Despite the overall sluggishness of the crypto market, with the global market capitalization hovering around $2.33 trillion, today's 4.66% uptick offers a glimmer of hope.
Shiba Inu Price Analysis
Following a period of depreciating values, Shiba Inu has experienced a modest rebound, with an 8% surge in the last 24 hours. The meme coin currently trades at $0.0000278, boasting a market capitalization of $14,676,151,630, which has also increased by 7.14%. Notably, the trading volume has also risen by 8%, reaching $761,369,172. src="/uploads/20240504/171482859466363532e2f11.png" data-lazy-src="/uploads/20240504/171482859466363532e2f11.png">
While this price surge provides a welcome respite from the recent market-induced declines, there remains significant room for growth. Shiba Inu had previously reached a peak of $0.00003592 in early March, its highest point in two and a half years. A similar climb is necessary to fully capitalize on the current momentum.
Whales Propel Shiba Inu's Ascent
The Robinhood exchange has witnessed a significant Shiba Inu token acquisition by a whale, who has amassed 1.75 trillion $SHIB tokens, valued at over $40 million. src="/uploads/20240504/171482859466363532e2f11.png" data-lazy-src="/uploads/20240504/171482859466363532e2f11.png">
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