Woof Woof! Shiba Inu Is Back to Barking After Being Quiet for a Time!
Based on CoinMarketCap data, Shiba Inu's trading volume increased by 110% in the last 24 hours as it gained market attention. Trading volume, which refers to the number of units transferred between buyers and sellers can be an indication of an investor's strategy although it is not guaranteed.Thus the increase in SHIB's trading volume is suspected to be due to market players jumping into the uncertain market to reap profits. Since hitting a low of $0.0000079 on Dec 28, SHIB's price has risen steadily.This dog-themed cryptocurrency has led other dog-themed cryptocurrencies with five consecutive days of price gains until a daily high of $0.0000088 on December 5th. Adding to the surge in momentum, WhaleStats reported the Shiba Inu token as one of the most purchased tokens by the Ethereum whale cluster.Shiba Inu's governance token, BONE, also gained attention amid the Shibarium update. At the time of publication, BONE is up 11.76% in the last 24 hours at a trading level of $1.05. BONE's trading volume in the last 24 hours also increased by 105%, as traders jumped on the recent volatility to take profits.As the Shiba Inu team once informed, BONE will remain the only token required for gas and usage fees when it comes to Shibarium.Apart from the positive catalytic factors mentioned above, SHIB's burn rate also increased by 33.53%, as indicated by the Shibburn website. In the last 24 hours, a total of 113,660,903 SHIB tokens have been burned, and seven transactions have been made. In 2022, a total of 83,347,071,504 SHIB tokens were burned, and 6,395 transactions were made.Shiba Inu is currently trading at a trading level of $0.000008507.
Based on CoinMarketCap data, Shiba Inu's trading volume increased by 110% in the last 24 hours as it gained market attention. Trading volume, which refers to the number of units transferred between buyers and sellers can be an indication of an investor's strategy although it is not guaranteed.
Thus the increase in SHIB's trading volume is suspected to be due to market players jumping into the uncertain market to reap profits. Since hitting a low of $0.0000079 on Dec 28, SHIB's price has risen steadily.
This dog-themed cryptocurrency has led other dog-themed cryptocurrencies with five consecutive days of price gains until a daily high of $0.0000088 on December 5th. Adding to the surge in momentum, WhaleStats reported the Shiba Inu token as one of the most purchased tokens by the Ethereum whale cluster.
Shiba Inu's governance token, BONE, also gained attention amid the Shibarium update. At the time of publication, BONE is up 11.76% in the last 24 hours at a trading level of $1.05. BONE's trading volume in the last 24 hours also increased by 105%, as traders jumped on the recent volatility to take profits.
As the Shiba Inu team once informed, BONE will remain the only token required for gas and usage fees when it comes to Shibarium.
Apart from the positive catalytic factors mentioned above, SHIB's burn rate also increased by 33.53%, as indicated by the Shibburn website. In the last 24 hours, a total of 113,660,903 SHIB tokens have been burned, and seven transactions have been made. In 2022, a total of 83,347,071,504 SHIB tokens were burned, and 6,395 transactions were made.
Shiba Inu is currently trading at a trading level of $0.000008507.
