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Shiba Inu (SHIB) Eyes Multi-Month High as Volume Jumps 17%
In a surprising turn of events, the meme cryptocurrency Shiba Inu (SHIB) is on the cusp of hitting a multi-month high. This sudden surge comes as its trading volume has spiked by an astonishing 17% in recent days.
As of this writing, SHIB’s market capitalization has surpassed $5 billion, a significant increase from its previous levels. The cryptocurrency, which is often regarded as a meme coin, has been gaining traction among investors and traders alike.
The sudden surge in the Shiba Inu (SHIB) market can be attributed to the recent launch of a decentralized platform called Shibarium, which allows users to create their own NFTs (non-fungible tokens). This move is expected to bring about significant changes within the meme coin ecosystem and potentially drive future growth.
The surge in volume has also been accompanied by an uptick in interest around SHIB’s potential as a long-term investment opportunity. Many experts believe that the token has finally reached a turning point, with its current market valuation seen as undervalued compared to other major cryptocurrencies.
In light of these developments, it is highly probable that we may see the SHIB price continue its upwards momentum in the near term.
Source: u.today
