Popular meme coin Shiba Inu has soared over the past week and demonstrated a substantial rise in the past 24 hours too. The SHIB price has finally removed one more zero, which was added after the event that sent waves of shock across the crypto space in early November — the fall of the FTX giant.
SHIB price eliminates a zero
Shiba Inu increased initially by over 14% over the period of the past 24 hours, jumping to the $0.00001101 level. Half of this impressive growth has been lost by now, but SHIB has managed to keep the "extra zero" as it is changing hands at $0.00001030 at the time of this writing on the Binance exchange. Over the past week, all in all, the second most popular canine crypto rose by around 30% before dropping a little earlier today.
SHIB also succeeded in recapturing the market capitalization level of $6 billion, but it is down to $5,666,878,825 at the moment.
Here's what pushed Shiba Inu up
Shiba Inu's growth, just like that of other top altcoins, has been propelled by the immense rise of Bitcoin over the past few days. The flagship cryptocurrency first stepped over the $18,000 level, and by now it has recaptured $20,000, coming close to $21,000.
Crypto influencer and founder of Gokhshtein Media, David Gokhshtein, believes that Bitcoin is strong enough now and looks ready to surge above the $22,000 mark as well.
Besides, recently there has been positive news about the SHIB metaverse. As reported by U.Today earlier, WAGMI Temple, one of the 11 hubs of the metaverse, will be exhibited at the SXSW 2023 event that will be set in Austin, Texas.
Vladislav Sopov
Denys Serhiichuk
