After the late October boom, the price of Shiba Inu’s SHIB token is still falling. It is currently 32% lower than its all-time high of 0.086 thousandths of a dollar on October 28.
After the boom, the price of the SHIB token is falling again
The price had already fallen to 0.062 thousandths the next day, then tried to rebound, but without success.
Tonight it fell even below 0.054 thousandths, then tried a rebound and returned above 0.058 thousandths.
The fact remains that the current price is 100% higher than it was just two weeks ago, 336% higher than it was a month ago, and 87,240,000% higher than it was a year ago when its trading volumes were negligible.
The SHIB token is relatively recent since it only hit the crypto markets in November of last year, and until February of this year, it was decidedly dormant, with a price never higher than 0.001 thousandths of a dollar.
The first sudden boom came in February when it jumped above 0.002 thousandths in just two days.
A second boom occurred between April and May, when in one month it rose to 0.030 thousandths, then fell back to 0.006.
Two more booms occurred at the beginning of October, when it approached 0.030 thousandths, and then at the end of the month with a new all-time high of over 0.086.
These booms were characterized by very high trading volumes, even higher than those of Bitcoin.
Shiba Inu is in the top 11 by capitalization
So in less than a year, SHIB has gone from having negligible trading volumes to surpassing even those of the world’s leading cryptocurrencies.
The highest peak in terms of trading volumes occurred on October 7, while yesterday’s peak was ten times lower.
There were also very high trading peaks in mid-May and late October. Overall, it remains a relatively little-traded token, were it not for these sudden spikes that last less than a week.
Given that many of the features promised by the developers are yet to be released, it is not possible to call this an already “mature” project. Despite the fact that during this 2021 it has had an exceptional performance, not matched by any other major cryptocurrency. One should not forget that a year ago Shiba Inu was not even in the top 100 by market capitalization, while now it is in the top 11.
The post Shiba Inu: the price of the cryptocurrency still falling appeared first on The Cryptonomist.
