Shiba Inu (SHIB), Price Rises 18%

Price of Shiba Inu: The second-largest cryptocurrency meme coin has seen huge gains in the last 24 hours with its price soaring by 18.21% and trading volume increasing by 93.45%. It now stands at $1,012,222,000.402. SHIB currently hovers at $0.00001414. This breaks the $0.000011- $0.000012 price range.
Shiba Inu Price Skyrockets 18%
This breakout helped Shiba Inu prices rise amid increased selling pressure. If this key barrier is broken, it could lead to $0.000151. If the breakout continues strong support appears to be at $0.0000108 in case SHIB falls.
Source – CoinMarketCap
SHIB may have Privacy Transactions
Shiba Inu added a new feature to SHIB that allows anonymous transactions through the Bermuda Privacy App. This means that meme altcoin transfers can be performed in a similar way to privacy coins such as Monero and ZCash. The recipient of SHIB sees only the address of the dApp and does not have to disclose the sender’s wallet address during the transfer.
Shibarium Launched Behind the Price Surge
One of the main reasons for the Shiba Inu’s price rise is the anticipated launch of a new blockchain called “Shibarium”.
In a blog post, Shiba Inu developers stated that they are nearing the final touches for Shibarium Beta’s imminent launch and that patience is key. Some see Shibarium as a price-pushing tool, but that’s not the project’s focus.
Also read: Developer Update on Shiba Inu’s Shibarium. Is the Date Final?
DOGE and BONE in Green
Other dog-related mem coins have also seen a price rise. Dogecoin (the original Shiba Inu-themed currency) is up 7.15% over the past week. Shibarium’s gas token BONE has seen a huge price rise at the beginning January. It is up 11.47% over the past 24 hours.
Also read: Shiba inu: List Of Crypto Projects That Could Skyrocket on Shibarium Launch
Not for investment advice.
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