Shiba Inu Price Soars Over 16% In Last 24-Hours

  • Shibu Inu’s price has exploded by over 16% in the past 24 hours
  • A Layer 2 network Shibarium will be launched soon.

The memecoin Shibu Inu price has exploded by over 16% in the past 24 hours and trades at $0.00001239.Furthermore, the crypto market cap has increased overnight to close to $1 trillion on CoinMarketCap.

SHIBA Price Chart (Source: CoinMarketCap)

SHIB Finally Moving Bullish

Gokhshtein Media’s founder David Gokhtein said “SHIB finally moving,” 

Earlier this week, Gokhshtein excitedly asked his 696,200 Twitter followers if anyone had loaded up on SHIB, suggesting that he had also loaded up on the dog-themed cryptocurrency. Having recovered from 2022 lows near $0.000007, Shiba Inu has been on an upward trajectory since the start of 2023. 

SHIB rose to an intraday high of $0.00001295 today, surpassing the $0.000011 barrier that hindered its price action for four days.

In the last 24 hours, Shiba Inu (SHIB) token has gained over 18%, according to CoinMarketCap. A whopping 245% increase in Shiba Inu’s trading volume has also been recorded. 

In addition, the data analytics platform Nansen reports heavy SHIB trading on both decentralized and centralized exchanges. Notably, the price of SHIB is 35% up in the past seven days. 

Furthermore, there is an upcoming launch of Shibarium, a Layer 2 network will build on Ethereum. More so, very soon a beta launch for Shibarium Layer 2 is expected. 

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.