Shiba Inu Price Reclaims $0.00002501 Level: A Week in Review 📈
Over the past week, Shiba Inu has shown significant developments, with the crypto asset reclaiming its $0.00002501 level. In the last 24 hours, Shiba Inu’s market value surged to $0.00002501, marking a 9.4% increase from the previous day’s low of $0.00002266.
Bullish Market Performance and Recovery 🚀
- Shiba Inu has managed to recover all the losses incurred throughout the week, showcasing a positive weekly performance.
- Trading at $0.00002501, Shiba Inu recorded an impressive 20.76% gain from the Wednesday low of $0.00002071.
- This positive trend is indicative of new upcoming developments in the Shiba Inu ecosystem.
BTC Whale Accumulation Effect 🐋
Following a market dip on May 1st that led to a decrease in investors’ confidence, Bitcoin whales stepped in on May 3rd. These whales injected $2,802,500,000 into the market, purchasing the BTC dip at an average price of $59K and accumulating 47,500 tokens in just one day.
This influx of capital caused a spike in Bitcoin’s price to $63,566, revitalizing market sentiments and creating a positive impact on meme coins like Shiba Inu.
Shiba Inu’s blockchain, Shibarium, recently underwent a hard fork upgrade. This upgrade has facilitated faster transactions and more predictable gas fees for the community.
Japan’s Shiba Inu Listing and Token Burns 🔥
- Shiba Inu’s global price surged after Binance Japan listed the SHIB/JPY pair, enabling Japanese crypto enthusiasts to trade SHIB with their local currency.
- Shiba Inu’s price on the exchange soared by over 300% to $0.00011 shortly after being listed on Binance Japan.
- Kraken also introduced new margin trading pairs for SHIB on their platform, further expanding its reach.
- A single whale on Robinhood purchased 1.75 trillion $SHIB tokens, amounting to more than $40 million.
- Millions of U.S. residents gained access to purchasing Shiba Inu tokens through PayPal, following a partnership between MoonPay and PayPal.
- On-Chain analytics revealed that over 65,000 Shiba Inu wallet addresses containing 733 trillion SHIB tokens were in profit despite the token’s low value.
- Shiba Inu witnessed a remarkable 1009% surge in its burn rate, resulting in the destruction of 29.11 million SHIB tokens in the past 24 hours.
Shiba Inu’s Strong Uptrend and Market Developments 📈
The combination of these significant developments has fueled Shiba Inu’s massive uptrend over the week, showcasing its resilience and potential for future growth.
Hot Take: Shiba Inu’s Rising Momentum 🚀
With the recent positive market performance, Shiba Inu’s price surge and burn rate increase demonstrate its robust growth potential. The listing on Binance Japan, significant token burns, and increased accessibility for U.S. residents highlight Shiba Inu’s expanding reach and popularity in the crypto market. Investors should continue to monitor Shiba Inu’s progress as it navigates through the evolving landscape of the cryptocurrency industry.
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