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20 Trillion SHIB Reach Break-Even Point as Shiba Inu Kicks into Top Market Performers

Tue, 07/25/2023 - 12:43
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Gamza Khanzadaev
Trillions of SHIB tokens hit break-even mark as Shiba Inu price shines green
20 Trillion SHIB Reach Break-Even Point as Shiba Inu Kicks into Top Market Performers
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In a surprising and exhilarating twist of fate, the Shiba Inu token, SHIB, has experienced a significant surge in its value over the past 48 hours, leading to an astounding number of tokens reaching their break-even point. Recent market data provided by IntoTheBlock has brought to light that more than 20 trillion SHIB tokens have regained their "initial" value as a direct consequence of the latest price action.

Shiba Inu (SHIB) Investors Taking Profits? Billions Move on Exchanges

The sensational price movement unfolded earlier today when SHIB touched an essential level of $0.0000076, sparking an impressive 3.69% gain within the following 12 hours. This remarkable price action is part of a larger trend in the crypto sphere, with the ever-popular Dogecoin (DOGE) leading the pack with a whopping 12% surge over the last three days.

SHIB to USD by CoinMarketCap

As a result of this extraordinary rally, both the Shiba Inu token and Dogecoin have secured coveted spots among the top market performers.

Dogecoin (DOGE) and Shiba Inu (SHIB) Eye Explosive Dynamics Right From Start of Week

The surge in SHIB's value has allowed more than 20 trillion tokens to transition from losses to profits, underscoring the scale and scope of the rally. In a staggering revelation, this surge accounts for a substantial 50% of all "profitable" Shiba Inu tokens currently in circulation.

Source: IntoTheBlock

Euphoria and excitement are rising in the Shiba Inu and Dogecoin communities as enthusiasts celebrate their newfound profitability. While some attribute the surge to speculative trading and market sentiment, others believe the reason is due to Twitter's rebranding to X and speculation surfacing again about the use of DOGE on the platform.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.