Memecoin Shiba Inu (SHIB) which was previously nicknamed 'Doge Killer' is once again displaying aggressive movements. Over the past 24 hours, the price of SHIB has surged over 30% reaching a daily peak of $0.00001800.
Analysts see the rise in the price of Shiba Inu as a result of the involvement of large whales investing in the crypto.
According to on-chain data provider Santiment, even though the cryptocurrency market is in a flat state, Shiba Inu has made a move this week with an increase of over 34% in 24 hours due to whales being very active on SHIB. For 4 months there were 433 transactions worth $100k+.
Shiba Inu is also currently trading up more than 15% at $0.0000163. The majority of price increases in Shiba Inu have occurred in the past 48 hours.
The price breakout on the SHIB/USDT chart has shown that the price of SHIB could take the next price momentum after being flat for quite a long period before. Therefore, analysts see Shiba Inu as having enough potential to rise another 50% from the current market.
By September 2022, the price of SHIB is expected to be heading towards $0.00002253 with the factor of SHIB price increase also being that Shiba Inu has been part of some important developments lately.
Also seen as a factor supporting Shiba Inu when last week, Binance added support for SHIB to all its payment cards issued in the European market.
This allows Binance card users to make payments using SHIB at over 60 million businesses worldwide. Users also do not have to pay service costs and get 8% cash back.
Is this situation going to be the trigger for the resurgence of the Shiba Inu crypto that was once a phenomenon before? The SHIB hodlers will definitely be excited again.
