Shiba Inu Price Is Now Up 50% In One Week, As Its Recovery Continues

Shiba Inu Price recovery on blue background
Credit: Unsplash/Jeffrey Blum

Shiba Inu Price recovery on blue background
Credit: Unsplash/Jeffrey Blum

Shiba Inu has jumped a whopping 50% in the last week as SHIB continues to make back on its losses following the severe crypto crashes in the last month.

Dropping to a low of $0.00000789 on June 19, SHIB has since removed another zero on its road to recovery, and is up 53% in the past seven days.

Spurred on by a 30% jump in 12 hours and the Shibarium Public Beta TestNet announcement, here’s a look at SHIB’s latest price action.

SHIB Jumps 50%

With the Shiba Inu price increasing by 53% in seven days, SHIB is now trading at $0.0000118. It has a market cap of $7 billion.

SHIB also remains 10% up in the past 30 days. It is now trading at around the price SHIB fell to after the major Luna crypto crash of early May. Consecutive crashes amid this bear market sent SHIB down even further, following the entire market.

However, in the past week, SHIB broke free of the wider crypto trends, outperforming most other cryptocurrencies of its size.

Of the top 100 cryptocurrencies, this puts SHIB as the 9th best performer in the past week. However, it is the best performer in the top 15 cryptocurrencies. Dogecoin’s 36% recovery is the closest to SHIB’s price action.

This trend upwards has also had an impact on Shiba Inu’s trading volume. Its initial spike saw SHIB’s 24 hour volume hit $2 billion. It has since fallen to around $800 million, still an increase of 150% compared to a week ago.

The two other tokens in the Shiba Inu ecosystem, BONE and LEASH, are trading at 41% and 46% higher, respectively.

Shiba Inu’s price action, which does come amid massive whale activity and the wider crypto recovery, has also arrived as the Shiba Inu team ramps up towards the Shibarium Layer-2 beta and eventual launch.

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