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Shiba Inu Price Jumps 50% In Jan, Will SHIB Break $0.1 Mark In 2023 ?

Published by
Elena R
google news

After trading on a bearish cycle for months, it looks like the second largest meme currency, Shiba Inu price has finally started its move towards $0.1 level. Starting with Bitcoin, Shiba Inu has now spiked nearly 50% in just a few weeks. This comes as a surprise move for the investors as SHIB outperforms its rival currency, Dogecoin.

At the time of reporting, Shiba Inu Is trading at $0.00001245 with a surge of 3.30% over the last 24hrs.

Shiba Inu Price At $0.1 ?

Meanwhile, a veteran trader Ali claims that Shiba Inu is about to hit a target of $0.017. However, he believes that this can happen only if SHIB maintains its trade above $0.011.

It was on January 19 that Shiba Inu had its last trade below $0.000011 after which the meme currency is maintaining its trade between $0.000011 and $0.000012.

Shiba Inu was created in August 2020 which was then viewed as a pump-and-dump scheme. However, now the Shiba Inu network has developed tremendously well and all thanks to the team that is working strongly towards its use cases. The team is achieving this goal through various methods and one such is the business partnerships. 

Recently, the Shiba Inu has entered into partnership with Flex network which is a known fraud-proof payment network. This partnership will allow SHIb holders to use their digital holdings in the US and Canada.

Binance Transfers 6.4 trillion SHIB To An Anonymous Wallet

The other reason for SHIB’s continued bull run is the hype for Shibarium, a layer-2 solution scheduled to be launched this year. One of the core developers, Shytoshi Kusams recently posted a testing tweet ahead of the Shibarium launch.

On the other hand, the lead crypto exchange, Binance, has moved 6.4 trillion SHIB to an anonymous wallet in the past day. The same was confirmed by Etherscan data. The reason for such a huge transaction is still unknown.

However, there was no impact on Shiba Inu’s SHIB price action as the currency is still among the top 20 gainers list

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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