Shiba Inu (SHIB) Sustains Market Greed Amidst Weekly Price Fluctuations
Shiba Inu (SHIB) has managed to maintain a sense of greed in the market despite experiencing a decline in its price throughout the week. The market capitalization stands at $5.25 billion USD.
While the price witnessed a 0.83% decrease in the last 24 hours, the trading volume surged to $113 million, indicating a 13% increase in the past day and a 12.76% rise in the last month.
According to the latest market data, the current price of SHIB is $0.000008903 USD. CoinCodex reports that SHIB’s lowest point in the current cycle is $0.000005603 USD, while its highest price since the recent low reached $0.00001179 USD. These figures highlight the volatility in Shiba Inu’s price movements, suggesting short-term fluctuations and long-term growth possibilities.
One potential driver of the recent greed sentiment in the Shiba Inu community may be attributed to developments related to Shibarium. A recent announcement from LucieSHIB, a member of the Shiba Inu team, outlined ambitious plans for Shibarium’s future.
With a goal to accommodate 1000 projects through various partnerships, emphasizing that supporting new projects does not mean canceling existing ones, this commitment to expansion and development may contribute to the current positive sentiment among SHIB holders.
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Another factor fueling the greed is the intriguing revelation by Shiba Inu’s lead developer, Shitoshi Kusama, about upcoming artificial intelligence (AI) projects in collaboration with the Bad Idea AI team. While the exact nature of these projects remains undisclosed, Kusama’s acknowledgment of “secret and non-secret AI initiatives for Shib” has sparked speculation and curiosity within the SHIB community. The potential technological advancements may contribute to the overall positive outlook.
Whale Activity and Shiba Inu Network Dynamics
A staggering amount of 600 billion SHIB tokens were involved in three separate transactions. The current greed sentiment aligns with a notable increase in whale activity on the Shiba Inu network. This growing whale activity complicates the dynamics of the Shiba Inu market, potentially influencing short-term price fluctuations and long-term market trends.
In general, Shiba Inu remains an attractive currency that warrants attention, reflecting an unclear sentiment from its community regardless of price expectations.
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