Shiba Inu’s 30-Day Performance: Can the SHIB Sustain Its Impressive 12.98% Price Surge?

Over the past 30 days, Shiba Inu (SHIB), the popular dog memecoin has experienced significant price fluctuations. Traders and investors have been closely monitoring the digital asset’s movements, hoping to capitalize on its price swings. In this article, we’ll delve into Shiba Inu’s 30-day price analysis, examining its key price milestones and the factors contributing to its volatile nature.

Shiba Inu Price Analysis

The 30-day analysis commences with Shiba Inu starting at $0.00000756 on day one. During the first ten days, there was minimal price fluctuation, and SHIB’s value slightly dropped to $0.00000754. This lackluster rally can be attributed to the perceived lack of progress from the Shiba Inu team.

Despite starting the month on a decline, Shiba Inu surged from 0.00000733 on 12th of July to 0.00000853 on 15th of July.

Reviewing Shiba Inu’s performance in recent weeks, the meme coin has shown a 12.98% increase over the last 30 days, rising from $0.00000756 to its current value of $0.00000854.

Coinmarketcap data indicates that on July 1st, Shiba Inu’s market cap stood at $4.48B, with a 24-hour trading volume of $145.38M. However, the subsequent price increase of SHIB has had a positive impact on its market cap, which has now grown to $5.04B, accompanied by a higher trading volume of $168.49M.

Did Shibarium Launch Date Announcement Influence the Price of Shiba Inu?

The recent update from Shytoshi Kusama regarding the Shibarium launch date has undoubtedly sparked enthusiasm within the Shiba Inu community. As a direct consequence, this heightened excitement has had a positive impact on the price movement of Shiba Inu.

Additionally, a major achievement was attained during the testing phase of the Shibarium network, with the successful release of its cross-chain bridge.

Exciting Event For Shiba Inu Community

The Shiba Inu development team launched the Shibarium hackathon, aiming to foster collaboration and inclusiveness within the community. Renowned marketing expert Lucie made an announcement revealing that the hackathon presents an exciting opportunity for participants to showcase their skills.

Notably, the top development project stands a chance to win a substantial reward of $5,000 in BONE tokens.

At the time this was written, Shiba Inu is being traded at $0.00000854, representing a 1.68% rise in value over the past 24 hours.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.