- Shiba Inu (SHIB) witnesses a 3.3% increase, reaching $0.00009335.
- The meme coin aims for the significant “zero-erasing” milestone, symbolizing a move in price decimal places.
The cryptocurrency Shiba Inu (SHIB) has surged by 3.3%, reaching a trading price of $0.00009335, fueling hopes within the community for the symbolic “zero-erasing” milestone. As the meme-based crypto token currently ranks #19 in market capitalization, valued at $5.5 billion, it maintains a 24-hour trading volume of $145 million.
Zero-Erasing Milestone and Current Performance
The Shiba Inu community sees the prospect of “erasing a zero” in SHIB’s price as a significant milestone. This term denotes the achievement of moving the price up a decimal place, symbolically impactful for cryptocurrencies, especially those with low unit prices like SHIB. The recent 3.3% surge contributes to this positive sentiment.
As of now, SHIB holds the 19th position in terms of market capitalization. The 24-hour trading range has shown relative stability, fluctuating between $0.00008947 and $0.00009398. Despite the modest trading volume of $145 million over the last 24 hours, Shiba Inu’s current valuation reflects its ongoing presence as a prominent meme coin.
Past Highs and Current Bullish Trend
It’s essential to note that despite the recent surge, SHIB is still down 89% from its all-time high of $0.00008616, recorded on October 28, 2021, over two years ago. The current bullish trend is a positive development for the meme coin, but it has yet to reclaim its past glory.
In the broader landscape of meme coins, Shiba Inu’s performance is noteworthy. It ranks alongside other top players, including Dogecoin (DOGE) at #11, experiencing a 3.0% weekly increase, and Bonk (BONK) at #97, with a notable 12.1% weekly gain. The dynamic nature of meme coin trends is evident as different tokens exhibit diverse market movements.
As Shiba Inu (SHIB) continues on its upward trajectory, the community eagerly anticipates the achievement of the symbolic “zero-erasing” milestone. Despite challenges, the meme coin remains a notable player in the evolving cryptocurrency market.
