Enthusiasts of SHIB eagerly anticipate the cryptocurrency to “wipe out another zero” from its price, and it seems bullish traders are taking strategic actions. Shiba Inu (SHIB) reached its highest point during Friday’s trading session at $0.00000946, currently trading at $0.00000943, marking a 3% increase as of the time of this report.
Market Cap and Ranking: The market value of SHIB also surged to $5.56 billion, solidifying its position as the 17th largest cryptocurrency by market capitalization. The rise in SHIB prices aligns with the broader cryptocurrency market recovery, witnessing Bitcoin (BTC) reclaiming the $47,000 level and Ethereum (ETH) reaching $2,500.
Trading view
Crypto Market Recovery: Bitcoin surged to around $48,000, reaching its highest point in a month, supported by hints of steady inflows into various American funds, along with increased focus on the upcoming April halving event. The rest of the cryptocurrency market followed suit, with coins like Shiba Inu gaining attraction.
Asian New Year and Crypto Traditions: The largest festival in East Asia, celebrating the start of what is believed to be an auspicious season according to the Chinese zodiac, kicked off. The Mandarin word for dragon, pronounced similar to “long,” adds symbolic value among crypto traders, historically witnessing increases during the Chinese New Year.
New Year Wishes from SHIB Community: The SHIB community received warm wishes from the SHIB team, expressing hopes for a prosperous Year of the Dragon. A community member, in a post on X, added a new feature to the Shibarium Explorer, integrating artificial intelligence features into Blockscout Block Explorer, stating, “It’s fantastic to see simplified artificial intelligence transactions appearing on Shibarium thanks to Blockscout.”
As SHIB continues to make strides in the market and the community celebrates the Lunar New Year, anticipation remains high for further developments and potential price movements.
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