Shiba Inu (SHIB) price is confirming a significant bullish trend, which would probably cause it to rise 16.25% from the breakout point to $0.00001208. The second-largest meme coin recovered after hitting support at $0.000000960, as was previously mentioned.
Over the previous 24 hours, Shiba Inu’s trading volume surpassed $135 million and soared above the $100 million barrier.
Only a few days have passed since the tech behemoth Google announced support for SHIB payments as a result of a strategic alliance with Coinbase.
CoinMarketCap’s real-time pricing information shows that SHIB‘s trading volume has increased by 19.72%. Decentralized exchanges (DEXs) only bring in $2 million, whereas centralized exchanges (CEXs) account for $133 million of the volume.
As a community of investors were lured in by the charming charm of the coin along with articles and tweets from individuals like Elon Musk and Vitalik Buterin, this meme coin swiftly acquired speed and value.
Long thought to be the creator of the Shiba Inu, Vitalik Buterin refuted these claims on the Lex Fridman show on June 5, 2021.
Shiba Inu intends to be the Srypt-based mining algorithm for Dogecoin on Ethereum. There are also other Dog-themed cryptocurrencies such as Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token.
Investors who missed the Dogecoin surge from 0.0002 to almost 0.75 USD have shown interest in these lower-valued currencies.