The price of the Shiba Inu’s SHIB token has been falling for more than two months now.
Over the past two days, however, there seems to have been a possible revival.
Shiba Inu (SHIB) price: +11% in two days
The Shiba Inu reached an all-time high on 28 October at 0.086 thousandths of a dollar, but the price is now still 66% lower than that peak.
Despite this, the current value is still 25,000,000% higher than twelve months ago.
These days the price has gone from 0.026 thousandths on January 10 to the current 0.029 thousandths, an 11% growth in two days.
SHIB listed on Bitso
In addition to the fact that the entire crypto market has been on the rise in recent days, Shiba Inu has had some important news.
In fact, the SHIB token was recently listed on Mexico’s largest crypto exchange, Bitso.
This is not a particularly important exchange globally, with its $20 million total trading volume in the last 24 hours, but SHIB’s debut was important, as the SHIB/USD exchange pair is by far the sixth most traded on the exchange with nearly $750,000 in 24 hours.
Change in trend for SHIB’s price
It is worth noting that the $0.026 thousandths touched the day before yesterday is Shiba Inu’s lowest price since it made its new all-time high. So the rebound in recent days could also indicate a change of direction relative to recent months.
However, it remains to be seen whether this level will provide long-term support, or whether the downtrend will resume and manage to break through it. In all likelihood, however, the price dynamics of SHIB will be influenced mainly by the general trend of the crypto market, which at the moment seems at the mercy of the two largest cryptocurrencies, Bitcoin and Ethereum.
NinjaFloki, a new rival for Shiba Inu
A curious trend is that of NinjaFloki (NJF), a kind of “competitor” to Shiba Inu, which made its debut on the crypto markets at the end of December at a price of about 0.8 millionths of a dollar.
Suddenly, on 6 January, the price briefly shot up to 185 thousandths, an incredible 60,000% gain in just a few days. But then the price dropped to 3 millionths the next day, and is continuing to fluctuate with extreme volatility. Now, for example, it has risen to 102 millionths, which is 3,300% more than on 7 January and 974% more than yesterday.
Surely this is just pure speculation, but it shows that the memecoin market is still active.
The post Shiba Inu (SHIB), faint signs of recovery in price appeared first on The Cryptonomist.
