Verticality is a core aspect of financial markets, mainly where price charts are concerned. As the SHIB price continues its near-vertical ascend toward a new all-time high, many people get very excited. Reaching a new ATH is undoubtedly possible for Shiba Inu, and it may even happen today.
SHIB Price Keeps Rocketing Higher
Many people doubted the long-term potential of Shiba Inu after its spectacular drop following the current all-time high of $0.00003791, recorded on May 20 of this year. However, those people also acknowledge the all-time low SHIB price of $0.000000000056 will never be seen again. Contrary to other meme tokens, SHIB has an ecosystem built around it and continues to gain momentum on all fronts.
Fast forward to today, and nearly everyone keeps tabs on the SHIB price. Aas we touched upon earlier, it was a matter of time until the accumulation of Shiba Inu resulted in a massive breakout. However, the current uptrend is a lot steeper than anyone could have predicted. A 384.5% gain in seven days is astronomical for any crypto asset. Moreover, the current price of $0.00003379 gives SHIB a nearly $17 billion market cap with $16.2 billion in daily trading volume.
SHIB Army Keeps Growing
It is always challenging to determine if a price spike makes communities grow or the other way around. For Shiba Inu, that correlation isn’t more apparent than for other crypto assets. What is clear, however, is how the SHIBARMY subreddit now has over 250,000 members. A significant milestone for what many people still see as a “meme currency”.
Based on the current SHIB price momentum, it may effectively overtake Dogecoin in market cap sooner or later. Interestingly, it doesn’t need the help of Elon Musk to attain that feat. Getting to 250,000 Reddit community members since August 3, 2020, confirms the strength of this community and its desire to keep growing and expanding.
Will We See More ShibaSwap Momentum?
Even though the SHIB price is going through the roof, it remains essential to keep tabs on the broader Shiba Inu ecosystem. One of its core pillars is ShibaSwap, a platform where users can provide liquidity, stake, and swap assets. It is also the go-to place to earn BONE and BURY tokens.
Additionally, ShibaSwap now facilitates the trading of 10,000 unique Shiboshi NFTs. These NFTs are only accessible on ShibaSwap, although they have yet to launch officially. It is intriguing to see non-fungible tokens come into the picture for this project, although the supply of 10,000 will certainly attract speculative attention.
WhiteBIT Will List SHIB
Although it has become increasingly easy to acquire SHBI through various exchanges, more listings are always beneficial. The SHIB price may gain more momentum following its listing on the WhiteBIT trading platform.
🐶 Say hi to @Shibtoken 🐶
🔸 SHIB is the main token of ShibaSwap.
Activities: Trading competition
— WhiteBIT (@WhiteBit) October 7, 2021
Users can now trade Shiba Inu against USDT, and there is a trading competition to look forward to as well. It is unclear if the exchange will support other pairs in the future, but for now, SHIB/USDT trading is available to all.
Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected]