Despite recent setbacks, Shiba Inu (SHIB), resilient amid crypto market fluctuations, climbs global charts with over 10% rebound.
Amid the crypto market’s ups and downs, the canine-inspired Shiba Inu (SHIB) token managed to make a notable ascent on the global charts. With an over 10% climb in its latest rebound effort, the coin showed resilience despite recent setbacks in the crypto industry.
After reaching a weekly low of $0.00000591, Shiba Inu has rallied back, surpassing Avalanche (AVAX) to reclaim the prestigious 18th position by global market capitalization. Shiba Inu’s current market cap now sits above $4 billion, according to data from the popular market tracker CoinMarket Cap, after seeing cumulative seven-day growth of 10.5%
Burn SHIB, a community-driven Shiba Inu burn update account on Twitter, recently shared a part of Shiba Inu’s win with the ever-excited community.
The current price of one $SHIB coin is: $0.00000692, -0.1819% change in the last hour, +1.95236% change in the last 24 hours.
— Burn SHIB (@letsburnshiba) June 17, 2023
Notably, the recent gains for Shiba Inu can be attributed to recent development surrounding the community. As reported by The Crypto Basic, in the last 24 hours, the Shiba Inu development team unveiled a physical product, Shibacals, with an intriguing tagline, “Print Anything; You Can Mint.”
Additionally, Shibacals’ launch came after multiple teasers that drove the community anticipation and excitement above abound.
Shiba Inu Metrics
However, analyzing on-chain metrics, Shiba Inu reveals a bearish to bullish ratio of 4:0. According to IntoTheBlock, a blockchain data analytics platform, a mere 8% of existing SHIB holders are in profit.
Despite these obstacles, Shiba Inu’s dedicated community of holders continues to grow steadily. In the past hour alone, 82 new holders have joined the pack, pushing the total number of SHIB holders to an impressive 2,346,688.
Ultimately, the crypto market eagerly watches as Shiba Inu persists in its quest for recovery to the top 15.