Shiba Inu Just Jumped 30% In Less Than 12 Hours


Shiba Inu Just Jumped 30% In Less Than 12 Hours

Shiba Inu's price has recently risen by 30% today, indicating that the crypto rebound is poised to continue for SHIB.

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After adding a zero to SHIB last week, the Shiba Inu price has suddenly lost the zero and is back in the $0.00001 level after a quick price surge.

Avalanche, which was formerly the 15th largest cryptocurrency, is now the 13th largest cryptocurrency by market capitalization. SHIB has now surpassed TRON and Wrapped Bitcoin, and is currently only two positions behind Dogecoin. So, what went wrong?

The price of a Shiba Inu has nearly recovered by 30%.

Holders of SHIB are asking what is behind the Shiba Inu price jump as it rises by 30%.

So far, there hasn't been any SHIB-specific news to accompany this big surge. Previous increases occurred following the Robinhood IPO or the unveiling of a Shiba Inu roadmap, but this time is different.

Indeed, given the broader cryptocurrency rebound, this may just be a natural recovery for SHIB. Holders may have followed Shytoshi Kusama's tweets when the RSI level was oversold. According to Shytoshi, the greatest time to buy SHIB is during a bear market.

Whales, on the other hand, appear to be responsible for at least initiating this SHIB recovery by purchasing SHIB at a lower price and driving it up even higher.

What makes this surge even more notable is that it differs from the majority of other cryptocurrencies. SHIB has gained the fourth-most in the last 24 hours. Only TitanSwap, Waves, and Celsius Network are ahead of it, with the latter currently mired in a withdrawal issue. In the previous 24 hours, Bitcoin and Ethereum have only gained 4%.

SHIB has a market worth of $6.2 billion after a trading volume of $1 billion in the previous 24 hours. At the time of writing, it is worth $0.0001052.

SHIB holders on Twitter, Discord, and Reddit are rejoicing about the big increase, however, others are perplexed as to why it occurred.

BONE and LEASH, the two tokens in the Shiba Inu ecosystem, have also seen significant price increases. In the previous 24 hours, BONE has risen 18%, while LEASH has up 21%.

All eyes will be on what happens next for SHIB, and if it will continue to recover to past highs or flatten out and remain connected with Bitcoin.

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