Shiba Inu has broken its 22-month highs with a 121% rally to trade above $0.00002, sparking massive celebrations from community members.
Shiba Inu Rallying 121%
In the last 24 hours, Shiba Inu broke above the $0.00002 threshold with an explosive rally not seen in months. In particular, SHIB has grown from a low of $0.00001266 to as high as $0.00002098 within the past day.
This price performance translates to a significant 65.78% growth, influenced by crypto market participants exchanging over $4,231,240,004 in the last 24 hours.
Notably, this trading volume reflects a 138.40% increase compared to the value recorded on the previous day.
Meanwhile, Shiba Inu’s price performance is even more spectacular on the seven-day scale. In particular, SHIB recorded a low of $0.000009486 on February 24.
However, precisely seven days later, the asset had grown explosively by 121.16% to its current 24-hour peak of $0.00002098.
According to historical data, the last time Shiba Inu witnessed the $0.00002 range was around May 2022. Essentially, the asset has broken a 22-month high within the past day.
SHIB Army Celebrates
This commendable trajectory has sparked massive celebrations from the Shiba Inu community, with the lead developer, Shytoshi Kusama, joining the merrymakings.
Taking to X, Kusama posted a celebratory gif containing the inscription telling the SHIB Army, “Let’s f*cking go!”
#SHIBARMY pic.twitter.com/ZBgwSBzUny
— Shytoshi Kusama™ (@ShytoshiKusama) March 2, 2024
Likewise, the Shiba Inu official X account shared a similar message, urging the SHIB Army, “Go with the flow. It’s all about vibes.”
In parallel, prominent Shiba Inu market analyst SHIB KNIGHT celebrated the performance. He posted a graph that showed how SHIB engineered a long greenish candle from below $0.00001 to above $0.00002.
$SHIB $SHIB $SHIB 🔥🚀🚀 pic.twitter.com/sbDJp2UZBv
— $SHIB KNIGHT (@army_shiba) March 2, 2024
Recall that just five days ago, SHIB KNIGHT had forecasted this rally by arguing that Shiba Inu would break from its long bearish trend.
While SHIB was within the $0.000009 range, he targeted a price of $0.000022, which has largely materialized.
Factors Propelling Shiba Inu
Shiba Inu established these performances by mirroring Bitcoin’s recent rallies that shattered the 2021 highs.
Another factor is a groundbreaking partnership that the Shiba Inu ecosystem recently secured with Zama, a prominent firm at the forefront of privacy solutions.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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