Shiba Inu is still bullish on the market charts. The meme coin has influenced fellow currencies to follow its lead and trade with SHIB Price at $0.00002332 for an 81% gain in just 24 hours. It peaked up today, reaching a high of 0.00002436 BTC or $8 billion worth right now. Meaning there’s no telling how much more it could go before hitting rock bottom again.
DogeCoin and Floki Inu are following the price movements of SHIB, with Doge valued at $0.2529, a 9% gain from press time, while Flokis trades at just over half that value for now at $0 .0000496.
Catalysts Fueling Shib Price Bull Run
Elon Musk initiated the run with a tweet that is open to public knowledge. Yet, several other catalysts are playing a vital role in fueling Shiba Inu leg up, which includes but are not limited to:
Increase in Whale Accumulation
- Gimli has bought Shib worth $2,385,648.
- A whale of a purchase! The anonymous buyer has spent another 276 billion tokens on the stock market after already purchasing 6.17 trillion SHIB worth of shares earlier this week alone.
- Reports suggest that large transactions greater than $100,000 peaked from 147 on the first of October to 1,300 by the fourth.
Acceptance of Shiba Inu by Now Payments
- Enables online and offline stores to accept SHIB payments.
- SHIB payroll as possible.
- Charities can receive SHIB.
- Streamers can accept donations in SHIB.
Automatic Shib Token Burning System
- Shiboshi has a novel way of reducing the supply and burning SHIB tokens.
- Shibs can now take their favorite NFTs and make them as unique as they want with the new renaming feature.
- Coin burn might help the price propel upwards, possibly to about 1 cent.
Now it seems that SHIB is the most popular Ethereum token. It’s also not surprising, considering they are at number two for transacting and holding ERC20 tickets.
The analysts are calling for a bullish fourth quarter, some even predicting that the coin will hit 0.00005mark. There’s no sign of this token’s run being like Dogecoin. Moreover, there is evidence in favor and against both sides before we can make any assumptions about what might happen next.