Shiba Inu’s lead now highlights the token’s impressive resurgence, noting a remarkable 274% growth over the past year.
Shiba Inu’s lead developer, Shytoshi Kusama, has recently underscored the impressive performance of the SHIB token, which has shown remarkable growth across multiple timeframes.
With the current bull market gaining traction, Shiba Inu has distinguished itself as one of the standout performers, achieving a new 30-day high.
In a recent post on X (formerly Twitter), Kusama shared a chart that illustrated SHIB’s upward trajectory.
At the time of his announcement, the token was experiencing a 2.2% gain on an hourly basis.
Over the last 24 hours, SHIB surged by an impressive 19.6%, marking a significant one-day increase.
The weekly performance reflected a solid 16.8% rise, and over the past two weeks, the token recorded a substantial gain of 28.8%.
The 30-day performance was even more striking, showing a remarkable 77.9% increase, while on an annual scale, SHIB has skyrocketed by 274.7%, solidifying its reputation as a leading performer in the crypto market.
In response to skeptics, Kusama confidently posed the question, “How would you FUD this token?”
This statement highlights the growing confidence within the community regarding SHIB’s potential.
Trading Volume Highlights
Another indicator of Shiba Inu’s strong momentum is its trading volume.
On December 1, the token reached an astounding $7 billion in trading volume, surpassing the combined volumes of other major cryptocurrencies like AVAX, TRX, TON, and XLM.
Kaal Dhairya, another key developer in the Shiba Inu ecosystem, emphasized this milestone on X.
CoinMarketCap data reveals that Shiba Inu was among the most actively traded tokens in the past 24 hours, with trading volume exceeding $6.08 billion.
Analysts and community members attribute this surge to increased activity within the Shiba Inu ecosystem, including rising calls for broader adoption of Shibarium and growing interest in related tokens like BONE and LEASH.
Notably, BONE’s trading volume increased by over 19%, while LEASH saw a 10% rise in the past week.
Predictions for a Potential Breakout
Looking ahead, market analysts speculate that Shiba Inu’s current momentum could lead to a significant price breakout.
SHIB Knight, a well-known market observer, noted that the ongoing accumulation might precede a major price surge, potentially reaching $0.000037.
Another analyst, Nebraskangooner, pointed out a symmetrical triangle pattern in SHIB’s price action, indicating a bullish outlook.
While specific price targets were not provided, the analyst highlighted that closing above this pattern could signal a forthcoming rally.
In summary, Shiba Inu’s recent performance, combined with its robust trading volume and positive market sentiment, suggests an exciting period ahead for the token and its community.
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Also Read: An Outstanding 5.72 Trillion SHIB Has Been Traded In 24 Hours
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