Shiba Inu Price Skyrockets, Trillions of SHIB Reach Break-Even Point

Vignesh Karunanidhi
Shiba Inu (SHIB) Death Cross Formation Raises Concerns of Sell-Off
Source: Mid-Day

Shiba Inu (SHIB) has garnered substantial attention and popularity in recent years as a meme coin. While its price performance may have been less favorable, the project has made notable progress in terms of its utilities. Shiba Inu distinguishes itself among other meme coins through its ongoing development efforts and regular updates.

In a notable turn of events, the price of the Shiba Inu (SHIB) has experienced a significant surge, resulting in a considerable number of tokens reaching their break-even point. According to market data analyzed by IntoTheBlock, over a trillion SHIB tokens have now regained their initial value as a result of recent price movements.

Shiba Inu surges by 8%

This impressive price movement occurred earlier today when SHIB surpassed a critical resistance level at $0.000007, leading to a notable 8% gain in the last 24 hours.

Following this significant breakout, the number of SHIB tokens transitioning from losses to profits has exceeded one trillion, indicating the scale of the ongoing rally. Over the past week, the price of SHIB has surged by an impressive 12.4%, propelling 18.58 trillion SHIB tokens into profitable territory. Notably, this surge represents a significant 40.9% of all “profitable” Shiba Inu tokens currently in circulation.

The recent price surge of SHIB has attracted attention from investors and cryptocurrency enthusiasts. As market volatility continues, the newfound profitability of a substantial number of SHIB brings a sense of optimism to their holders.