Shiba Inu Coin Starts Price Rise: Is a Cryptocurrency Bull Market Coming Back?
2022-05-31 15:59:03
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After the TerraUST crash in May, the Shiba Inu coin's price has been in a downward phase and has even fallen out of the top 15 cryptocurrency rankings. Currently, the Shiba Inu coin is in the sixteenth place among cryptocurrencies, and its price has reached a low of $0.00001018 in the last week. Some Whales have even started selling Shiba Inu coins as capital recovery.
However, on the last working day of May, the price of the Shiba Inu coin started to show an increase. At the time of writing, the Shiba Inu coin was trading at $0.0000121986 on the international cryptocurrency Gate.io exchange, and not only has the price increased by 4.4% in the last 7 days, but it has also increased by 3.8% in the last 24 hours with a trading volume of $644,294,776.
WhaleStats' analysis of the top 100 Shiba Inu holders reports that the 24-hour trading volume at such addresses has spiked by nearly 341%. In addition, Shiba Inu whales have become more active in the last 24 hours as the number of all Whales traded increased by 112% according to IntoTheBlock.
WhaleStats also reported that on May 30, SHIB ranked among the top 10 of the 5,000 largest ETH Whales by trading volume. In addition, WhaleStats' analysis of the top 100 Shiba Inu holders reported that the average value of SHIB held by such investors rose by 11.56%. Active addresses and network traffic have also increased by 28.57% and over 107% in the last 24 hours.
Not only that, but Shiba Inu has gained over 33,000 holders in just a few days. According to WhaleStats, the total number of SHIB holders is currently 1,173,065. As of the end of April, the number of Shiba Inu coin holders was 1,139,916. Thus, it is clear that the steady growth of the Shiba Inu coin remains a positive sign. While the increase in holders may not have a direct impact on the price, it may indicate long-term interest in the asset and attract more investors to buy Shiba Inu coin.
The Twitter account of Ryoshi Research, presumed to be the founder of Shiba Inu, was inactive after a related tweet on May 29, 2021. However, the account deleted all of their activity on the platform on their Twitter account on May 30.
Would this mean that the presumed founder wants to abandon the project? Or is it about to lead to a larger scale event? We have no way of knowing, but Shiba Inu Coin has always had a great promotional campaign, and what this one is about, who knows? Might as well look forward to it.
After the TerraUST crash in May, the Shiba Inu coin's price has been in a downward phase and has even fallen out of the top 15 cryptocurrency rankings. Currently, the Shiba Inu coin is in the sixteenth place among cryptocurrencies, and its price has reached a low of $0.00001018 in the last week. Some Whales have even started selling Shiba Inu coins as capital recovery.
However, on the last working day of May, the price of the Shiba Inu coin started to show an increase. At the time of writing, the Shiba Inu coin was trading at $0.0000121986 on the international cryptocurrency Gate.io exchange, and not only has the price increased by 4.4% in the last 7 days, but it has also increased by 3.8% in the last 24 hours with a trading volume of $644,294,776.
Whales for Shiba Inu Coin Trading Volume Up 341% in 24 Hours
WhaleStats' analysis of the top 100 Shiba Inu holders reports that the 24-hour trading volume at such addresses has spiked by nearly 341%. In addition, Shiba Inu whales have become more active in the last 24 hours as the number of all Whales traded increased by 112% according to IntoTheBlock.
WhaleStats also reported that on May 30, SHIB ranked among the top 10 of the 5,000 largest ETH Whales by trading volume. In addition, WhaleStats' analysis of the top 100 Shiba Inu holders reported that the average value of SHIB held by such investors rose by 11.56%. Active addresses and network traffic have also increased by 28.57% and over 107% in the last 24 hours.
Not only that, but Shiba Inu has gained over 33,000 holders in just a few days. According to WhaleStats, the total number of SHIB holders is currently 1,173,065. As of the end of April, the number of Shiba Inu coin holders was 1,139,916. Thus, it is clear that the steady growth of the Shiba Inu coin remains a positive sign. While the increase in holders may not have a direct impact on the price, it may indicate long-term interest in the asset and attract more investors to buy Shiba Inu coin.
Anonymous Creator of Shiba Inu Coin Deletes All Tweets on Twitter
The Twitter account of Ryoshi Research, presumed to be the founder of Shiba Inu, was inactive after a related tweet on May 29, 2021. However, the account deleted all of their activity on the platform on their Twitter account on May 30.
Would this mean that the presumed founder wants to abandon the project? Or is it about to lead to a larger scale event? We have no way of knowing, but Shiba Inu Coin has always had a great promotional campaign, and what this one is about, who knows? Might as well look forward to it.
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