Shiba Inu has continued its rise recently as data shows the social volume of the cryptocurrency has also registered a sharp growth.
Shiba Inu Social Volume Has Risen 65% In The Past Week
Shiba Inu has enjoyed an uptrend recently as the much-anticipated Shibarium upgrade of the memecoin is expected to drop later this month. This rally started around the start of this month, and within only a couple of days, the asset’s value registered a rapid growth to the $0.00001050 mark.
However, the coin temporarily lost its steam after this peak, as its price plunged below the $0.00000900 level. This wasn’t the end of the rally, though, as SHIB soon regained its footing and started surging again.
The below chart shows how the price of the memecoin has fluctuated in the past month.
Looks like the value of the asset has been going up in recent days | Source: SHIBUSD on TradingView
The cryptocurrency rebounding in this fashion after a pretty steep decline from the peak is a positive sign for things to come, as it shows that the market hasn’t just given up on the rally yet.
In this latest surge, the asset has managed to reclaim the $0.00001000 level. With profits of more than 16% during the past week, Shiba Inu is the best performer among the top cryptocurrencies in the market by quite a distance.
SHIB’s bullish momentum has not slowed down yet, as the coin has seen gains of another 3% over the last 24 hours. Regarding its market cap ranking, Shiba Inu remains the 14th largest asset in the sector.
SHIB seems to hav
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Author: Hououin Kyouma
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