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Shiba Inu (SHIB) Price Jumps 19.30% Within Week as These Triggers Occurred

Fri, 01/13/2023 - 11:19
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Yuri Molchan
Popular canine token has soared in price significantly over past week thanks to these drivers
Shiba Inu (SHIB) Price Jumps 19.30% Within Week as These Triggers Occurred
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The second largest canine crypto in terms of market capitalization, Shiba Inu, has demonstrated an impressive rise over the past week as its price jumped by nearly 20%.

SHIB price close to "burning" a zero

Since the middle of last week, Shiba Inu has been growing by leaps and bounds.

On Tuesday, Jan. 10, the price soared by 10%, and from Wednesday to now, it has spiked by over 12%, hitting the $0.00000980 price mark.

In early November when the crypto market was hit by the insolvency of the FTX giant and its founder, former crypto billionaire Sam Bankman-Fried, Bitcoin and altcoins have plunged. Shiba added the fifth zero to its price, and now, it seems, it is preparing to eliminate it once again.

Image via TradingView

Shiba Inu and SHIB The Metaverse to Exhibit at 2023 SXSW XR Experience

Bitcoin rising close to $19,000

Another factor that has likely contributed to the coin's growth is the rise of the Bitcoin price. Over the past few days, BTC suddenly regained the $18,200 level, and on Jan. 12, it touched $19,000 before rolling slightly backward.

SHIB and other altcoins surged on the back of the flagship cryptocurrency. Besides, Twitter has recently added a "cashtag" for Shiba Inu, as it did for Dogecoin, ADA and other cryptos as January began.

Little things like this generally contribute to an overall background upon which a token's price can go up.

Aside from that, SHIB Metaverse hub WAGMI Temple is going to be previewed by the attendees of SXSW 2023 in Austin, Texas, as covered by U.Today.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at