Shiba Inu lead developer Shytoshi Kusama has highlighted the impressive performance of SHIB, which has experienced remarkable growth across various timeframes.
As the ongoing bull market regains momentum, Shiba Inu has emerged as one of the top performers, setting a fresh 30-day high. Kusama took to X to mark this development.
In Today’s Shiba Inu coin news, Kusama shared a chart showing that at the time of posting, Shiba Inu was experiencing a 2.2% gain on the hourly timeframe. Over the 24-hour period, the token surged by 19.6%, marking a substantial single-day increase.
The weekly growth showed a 16.8% rise, indicating steady gains. Similarly, over the past 14 days, SHIB recorded an increase of 28.8%. The 30-day performance demonstrated a 77.9% rise, highlighting a robust rally over the previous month. On an annual scale, SHIB’s 274.7% increase solidified its status as a top performer.
Given this impressive performance across major timeframes, Kusama responded to critics by saying, “[How] would you FUD this token?”
Shiba Inu Sees Massive Trading Volume
Moreover, trading volume emerged as another strong indicator of Shiba Inu’s upward momentum. Observers noted that SHIB reached $7 billion in trading volume on December 1, surpassing the combined volumes of AVAX, TRX, TON, and XLM. Kaal Dhairya, one of Shiba Inu’s prominent developers, highlighted this milestone on X.
🐶 Woof woof! This is insane, I fact checked in the last 24 hours, $SHIB has fetched $7B in volume—more than double the combined trailing four tokens! 🐾#SHIBARMY, let’s unleash our pawsitivity! 🐕 Let’s bark at all the CEXs who’ve been digging up millions in trading fees from… https://t.co/SXdvUxaA9c
— Kaal (@kaaldhairya) December 1, 2024
Data from CoinMarketCap confirms Shiba Inu was among the most traded tokens in the last 24 hours, with a volume exceeding $6.08 billion.
Analysts and community members have attributed this surge in trading volume to heightened activity within the Shiba Inu ecosystem. This has included growing calls for broader adoption of Shibarium and rising interest in related tokens like BONE and LEASH. For example, BONE’s trading volume surged by over 19%, while LEASH saw a 10% increase over the past seven days.
Imminent Breakout Predictions by Analysts
Market analysts have speculated that Shiba Inu’s ongoing phase may lead to a significant price breakout. SHIB Knight, a prominent market observer, noted that this accumulation could precede an explosive move, predicting a potential price surge to $0.000037.
Similarly, another analyst, Nebraskangooner, highlighted SHIB’s symmetrical triangle pattern, observing a potential breakout. While the analyst did not provide specific price targets, he pointed to the closing above the pattern as a bullish signal.
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