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Dog-Themed Cryptocurrency Shiba Inu (SHIB) is showing impressive momentum, increasing by almost 50% in the last 24 hours.
The Shiba Inu’s recent performance has been nothing short of remarkable, gaining 70% since last week. The overall sentiment in the cryptocurrency market is bullish, with many investors looking for opportunities in the altcoin market. This positive sentiment has been one of the driving forces behind SHIB’s recent gains.
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Currently, SHIB is trading at $0.0000271 after hitting an intraday high of $0.0002799. Shiba Inu’s current gain has taken the cryptocurrency above $0.0002169, a level that has been holding its price back since June, and to a level where it could potentially enter a higher price range if momentum is maintained.
This is sparking speculation that SHIB may soon erase a zero from its value, which would remove a decimal place from its price.
To achieve this, SHIB would need to reach $0.0001, a level that would represent an important price milestone. While this goal may seem ambitious, recent price developments suggest it is within the realm of possibility.
What’s Next for Shiba Inu Price
The rapid increase in Shiba Inu prices has stunned the market, with SHIB rising steadily since yesterday’s session amid heavy buying pressure.
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Shiba Inu rose sharply during Sunday’s trading session from a low of $0.0000201 to a high of $0.00002799 at press time, creating a huge green daily candlestick.
The broader crypto market saw a boost as Bitcoin surpassed $80,000 in today’s trading session, and SHIB is one of the biggest beneficiaries of this bullish sentiment. As a result, Shiba Inu re-entered the top 10 cryptocurrencies by market capitalization, recording the largest gains in this category.
Shiba Inu leader Shytoshi Kusama reacted to the SHIB price surge by saying, “For those who don’t know why a meme like SHIB might rally to the side of the big wood. It’s time to showcase the power, technologies and innovative thinking that brought us through the bear. walk.”
As Shiba Inu gains the spotlight, the market is closely watching its next trends. If Shiba Inu can maintain its recent gains, it could pave the way for further progress that would increase its chances of “wiping out a zero.”