Shiba Inu Coin (SHIB) Jumps 30% In 24 Hours As It Nears $0.00003

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Shiba Inu Coin just saw another major price surge of 30%, with SHIB regaining the losses made in late January.

Starting February 6 at $0.0000225, it reached a high of $0.00002930 on February 7 - an increase of 30.22% (via CoinGecko). While most cryptocurrencies saw price increases of their own, these were much smaller than SHIB’s price surge. Bitcoin, Ethereum and Dogecoin are up 2.3%, 2%, and 5.2% in 24 hours, respectively.

This comes as the Shiba Inu roadmap continues to progress. SHIB has posted several new announcements in the last few weeks including that for the Shiba Inu metaverse, and a potential Shibarium public test.

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Shiba Inu Price Surges, Again

The latest SHIB price increase saw SHIB regain some of its market cap and breach the $15bn mark for the first time since January 20. At the time of writing, SHIB’s price is $0.00002790.

As expected, members of the ShibArmy reacted positively to the news of the 30% increase after a relative period of stagnation for the coin in terms of price.

While holders have yet to agree on a reason for the increase, Shiba Discord moderator Queenie said on Discord:

It’s just natural market movement and momentum as we’ve been accumulating for a few weeks.

Since the start of the year, SHIB has remained in the news for several large announcements. These include a partnership with a fast-food store, the Shiberse metaverse, and the upcoming launch of its Doggy DAO.

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SHIB still remains down some 67% from its All-Time High of 0.00008616, reached in October 2021. SHIB is still lower than its initial price at the beginning of 2022, where it started the year at $0.000033.