Shiba Inu Price Is Now Up 50% In One Week, As Its Recovery Continues
Shiba Inu has increased by a staggering 50% in the past week as SHIB continues to recover from its losses after the devastating crypto collapses in the previous month.
SHIB hit a low of $0.00000789 on June 19 before recovering and adding another zero. It has increased 53 percent over the last seven days.
Here is a look at SHIB's most recent price movement, which was motivated by a 30 percent increase in just 12 hours and the introduction of the Shibarium Public Beta TestNet.
SHIB Increases 50%
Shiba Inu price is presently selling at $0.0000118 after rising by 53 percent in just seven days. Market capitalization is $7 billion.
SHIB has increased by 10% over the previous 30 days as well. It is currently selling at a price similar to where SHIB dropped following the significant Luna crypto meltdown in early May. SHIB fell along with the rest of the market as a result of several collapses throughout this bear market.
SHIB, however, defied the broader crypto trends during the last week and outperformed the majority of other cryptocurrencies of a similar size.
This places SHIB as the 9th greatest performance over the last week among the top 100 cryptocurrencies. But among the top 15, it has had the best performance. The price movement of SHIB is most similar to Dogecoin's 36 percent rebound.
The trade volume for Shiba Inu has also been impacted by this growing trend. SHIB's 24-hour volume peaked at $2 billion during its initial surge. Since then, it has decreased to about $800 million, but still is a 150 percent gain from a week earlier.
BONE and LEASH, the other two tokens in the Shiba Inu ecosystem, are currently trading at higher prices by 41 and 46%, respectively.
The price movement of Shiba Inu, which coincides with significant whale activity and the overall crypto rebound, has also begun as the Shiba Inu team prepares for the beta and eventual launch of Shibarium Layer-2.