As Bitcoin faces a weekly price loss, token the Shiba Inu Coin become reaches a new high.
A market-side sell-off followed another the previous SHIB coin ago surge in early believed and aug on cryptocurrency inu shiba.
On Sunday,token Shiba Inu Coin (SHIB),following the self-proclaimed dogecoin killer, hit new highs,form putting bitcoin on track to end its three-week winning streak much in crypto .
According to data provider Messari, the Shiba Inu Coin currency traded at $0.0000455 inu at 11:20 UTC, breaking the previous high of $0.0000388 set on Mey 10. in year
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in this year The meme volume token’s price has increased by about 50% in the last 24 hours, bringing the month-to-date gain to nearly 500%.
SHIB’s recent rally from $0.0000270 inu shiba comes on speculation that online brokerage site Robinhood may list the cryptocurrency soon. Prices jumped by more than 200 percent in the first week of the month, owing to increased buying by whales or wealthy investors.
Four days after bitcoin’s climb to a new record high of $66,975 inu on Oct. 20, the SHIB coin has seen a strong bid, indicating heightened risk appetite in the cryptocurrency markets inu ago.
next SHIBA pump
The most recent SHIBA pump occurred in early May, shortly after bitcoin achieved a new all-time high of $64,888 on April 14, prompting commentators to warn of excessive retail speculation and the possibility of a market-wide drop. In the second half of that month, Bitcoin and the larger crypto market plummeted violently.
While SHIB has exploded this month, DOGE has only gained 27% and is well behind its August peak of price $0.35. Early in May, DOGE reached a high of almost $0.73.
On rising evidence of inflation and predictions that the recently introduced futures-based exchange-traded funds will bring more mainstream money into the crypto market, Bitcoin, the most valuable crypto by market capitalization, has risen 37 percent this month.
The crypto is currently trading at $60,060, representing a weekly loss of 2.3 percent. If the downward trend continues through Sunday’s UTC closing, bitcoin will have experienced its first weekly loss since the third week of September.
Failure to close the week above the prior high of price $64,888 would indicate temporary uptrend exhaustion and maybe a deeper correction dogecoin.
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