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    SHIB is looking to restart its bull run

    By Daniela Ešnerová


    Updated

    Shiba Inu coin logo design on a red background
    The Shiba Inu (SHIB) share price is up 7.38% week-on-week – Photo: Shutterstock

    The Shiba Inu (SHIB) price was up by 7.38% week-on-week as of 9:15 EST, signalling that the meme-coin is now restarting the bull run it enjoyed in the previous month.

    The dog-themed meme-coin cryptocurrency surged early on Thursday morning, defying the rest of the cryptocurrency market. SHIB jumped by 11.92% on Thursday morning after reaching $0.00005800, compared to $0.00005182 a day before, according to TradingView. The 11th-biggest cryptocurrency by market capitalisation then continued to trade up, turning green, as seen in the chart below.

    Meanwhile, eight of the top 10 cryptocurrencies were down over the past 24 hours as the market retreated from the record-breaking frenzy a day before. The other two tokens – stablecoins tether (USDT) and USD coin (USDC), the fourth- and 10th-biggest digital tokens by market capitalisation – are designed to be pegged 1:1 against the dollar, and as such were flat. 

    Listing news

    Earlier that day, one of the India’s biggest cryptocurrency exchanges, CoinDCX, said it would list SHIB for trading on its app by Friday. SHIB was also the number-one trending cryptocurrency on CoinMarketCap.com on Thursday.

    Chart: Shiba Inu’s price spike

    Related topics

    #Cryptocurrency

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