The Shiba Inu price has managed to increase in the last 48 hours. Recent market data provided by IntoTheBlock revealed that more than 20 trillion SHIB tokens have regained their “initial” value as a direct result of the recent price action.
The sensational price action emerged earlier today as SHIB hit a key high of $0.0000076, posting a 3.69% gain in the following 12 hours. This remarkable price move was due to a larger trend in the cryptocurrency world. For example, the DOGE price grew by 12% during the same period.
As a result of this strong rally, both the Shiba Inu token and Dogecoin were among the best performers in the market.
The increase in the value of SHIB enabled more than 20 trillion tokens to go from loss to profit, underlining the scale and scope of the rally. Surprisingly, this increase accounts for 50% of all “profitable” Shiba Inu tokens currently in circulation.
Enthusiasm and excitement are rising in the Shiba Inu and Dogecoin communities, while enthusiasts celebrate their newfound profitability. While some attribute the increase to speculative trading and market sentiment, others believe this is due to Twitter’s rebranding as X and the resurgence of speculation about DOGE’s use on the platform.
You can follow the current price action here.