Shiba Inu Records A New All-Time High AS SHIB Bucks Bearish Market Trend

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The majority of crypto markets are currently going through a very bearish spell. One notable exception is Shiba Inu, or SHIB, which has recorded a new all-time high. These are exciting times to own Shiba Inu, and it seems the momentum is not petering out just yet. 

Shiba Inu Is Making Another Move

A few weeks ago, people openly wondered whether SHIB could note a new all-time high. Those discussions are very different today, as SHIB is the only top market in the green, whereas everything else faces a very steep correction. It is remarkable to see this “meme currency” rise up in value so quickly again, as a weekly performance of +101.7% is very impressive.

Source: TradingView

What is even more intriguing is how SHIB has a monthly performance of almost +700%. It is the hottest crypto asset on the market today, and the current all-time high of $0.00005806 may not last for much longer. The currency is poised to break that $0.00006 resistance and perhaps even surge to a high of $0.0001 in the end. A very active market with lots of excitement and some very intriguing developments people may want to take note of.

Over 800,000 SHIB Holders

Perhaps the biggest change for Shiba Inu is how its token gets even more diversified than before. More specifically, there are now 801,855 token holders, which is a more than respectable amount. As this number keeps rising, community members will face less selling pressure on trading platforms from bigger whales. However, wallets still control vast amounts of the token, although most belong to platforms such as Crypto.com, Binance, and Huobi. 

Twitter Trends Are Fire

It is remarkable to see cryptocurrencies trend on Twitter when the markets have soured significantly. Contrary to expectations, the trend isn’t about Bitcoin or Ethereum. It isn’t about SHIB either, but rather the #SHIBARMY. A strong community – currently 329,000 members on Reddit – can do wonders for any crypto asset. As the community can establish Twitter trends, it brings more attention to Shiba Inu and the SHIB asset by extension. 

Robinhood Rumors Persist

Many people still hold out hope to see Shiba Inu on the Robinhood platform. Although that remains possible, it seems unlikely to happen soon. Moreover, Robinhood noted terrible Q3 revenue from crypto trading. It may be a sign to add different currencies like SHIB, or it can indicate overall crypto trading interest through that particular platform has dropped off. 


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