Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In a remarkable turn of events, the Shiba Inu token, SHIB, has witnessed a breathtaking surge in its price, leading to an astonishing number of tokens finally reaching their break-even point. Recent market data analyzed by IntoTheBlock reveals that over a trillion SHIB have regained their initial value as a direct consequence of the latest price action.
The exceptional price movement occurred earlier today when SHIB broke through a crucial resistance level at $0.000007, resulting in a remarkable 4.6% gain within a mere 30 minutes. This breakthrough is part of a larger rebound in the Shiba Inu token's price, following a previous drop of $0.0000054 just a week ago.
In the wake of this significant breakout, more than 1 trillion SHIB tokens have transitioned from losses to profits, showcasing the extent of the rally. Since the last week's dip, the price of SHIB has experienced an impressive 34% surge, propelling 18.58 trillion SHIB tokens into profitable territory. Remarkably, this surge accounts for a substantial 40.9% of all "profitable" Shiba Inu tokens in circulation.
With the current bullish momentum behind Shiba Inu, many are eagerly watching to see if this extraordinary price action will continue. This mini rally has definitely renewed optimism among SHIB token holders, many of whom have been waiting patiently for a turnaround after experiencing extended periods of decline.
Tomiwabold Olajide
Denys Serhiichuk
Yuri Molchan
