Business

Shiba Inu rises 26% over the past two days, beating out DOGE and BTC

Shiba Inu has gained about 26% over the past two days, outperforming all other cryptocurrencies on the market, including Dogecoin and Bitcoin.

Shiba Inu sees a 26% rise in recent days

While most crypto markets have been largely static over the past week or so, SHIB has been different over the past two days.

The Shiba Inu is currently trading at around $0.0000154, up 26% over the past 7 days. Here is a chart showing recent trends in memecoin values.

Looks like the price of the crypto has jumped up recently | Source: SHIBUSD on TradingView

As seen above, the DOGE-cousin coin has been moving sideways for the last few days until yesterday.

The Shiba Inu climbed to $0.0000178 yesterday, up 39% from the start of the rally at this point. However, since then the price of the coin has dropped a bit. Nonetheless, SHIB holders enjoy a profit of around 26% accumulated over the past few days.

The reason behind this slight decline could be related to selling from whales.According to this chart from an analytics firm SantimentoSHIB whale trading surged as memecoin rose in value.

Shiba Inu Whale Trade

The whale transaction volume seems to have hit hit a 4-month high | Source: Santiment

From the graph, it’s clear that the volume of Shiba Inu transactions over $100,000 has surged to its highest level since April of this year.

Despite the drawdown due to possible dumping from whales, SHIB still easily beats other top cryptos in the market.

SHIB’s biggest competitor, Dogecoin, also observed positive gains this week as the original memecoin rose 6% over the period. The chart below shows the evolution of the DOGE price.

Shiba Inu VS Dogecoin

DOGE rose up and then erased a lot of its gains in the last two days | Source: DOGEUSD on TradingView

Clearly, Dogecoin’s earnings are much less than those of Shiba Inu over the same period. Bitcoin’s performance deteriorated further as it consolidated almost flat over the past week.

At the time of writing, BTC is priced at around $24,000. The value of cryptocurrencies increased by % last month.

Below is a chart showing how the coin price has changed over the last 5 days.

Shiba Inu vs Bitcoin

BTC has seen some short-term volatility, but the overall trend has been that of sideways movement in the last few days | Source: BTCUSD on TradingView
Featured image from Ferhat Deniz Fors on Unsplash.com, charts from TradingView.com, Santiment



Shiba Inu rises 26% over the past two days, beating out DOGE and BTC

Source link Shiba Inu rises 26% over the past two days, beating out DOGE and BTC

Related Articles

Back to top button