Shiba Inu Price Surges 6% as it Reaches Monthly Highs

3 weeks ago 16

On April 16, Shiba Inu (SHIB) price gained a bullish momentum after it experienced a spike of 6%, soaring its price above $0.0000063.
The rally in the memecoin was witnessed after it broke the monthly consolidating pattern amid the bullish sentiment in the overall crypto market.
The steady whale accumulation and growing activity on its layer 2 solution, Shibarium, have boosted investors’ confidence.

Amid positive sentiment in the entire crypto market, Shiba Inu (SHIB) price shot up by around 6% on a daily chart following upward momentum in the memecoin sector.

On April 16, the Shiba Inu (SHIB) price jumped by around 6.92% in the last 24 hours, soaring its value from 0.000005935 to 0.000006338, according to CoinMarketCap. The cryptocurrency currently holds a market capitalization of around $3.75 billion with a daily trading volume of around $175.41 million.