Shiba Inu’s team reacts to the recent price surge.
Shiba Inu has been on a tremendous rally over the past few days, sparking excitement among SHIB enthusiasts who have waited patiently for this price increase. The team behind Shiba Inu joined community members to react to SHIB’s remarkable rally over the weekend.
Shiba Inu’s official handle posted a tweet on February 4 showing the cryptocurrency’s mascot holding and displaying a trophy.
— Shib (@Shibtoken) February 4, 2023
The tweet sparked excitement among community members, who saw it as the team’s way of congratulating them for believing and holding on to SHIB even during the crypto winter.
“Congrats to everyone that held onto their SHIB. We’re just getting started,” said JD Updates, a popular Shiba Inu influencer.
SHIB’s Recent Price Hike
The crypto asset’s price jumped to nearly 30% on February 4, making it rank among the top gainers in the global cryptocurrency market. According to data from CoinMarketCap, Shiba Inu surged as high as $0.00001590 on February 4. Shiba Inu now stands in 12th place in front of DOT and LTC with a market cap of $8B.
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The upcoming Shiba Inu’s layer-2 network Shibarium may have contributed to the massive price hike of SHIB. TheCryptoBasic observed that Bone ShibaSwap (BONE) price also spiked 40% on the day SHIB rallied nearly 30%.
Furthermore, massive whale interest in Shiba Inu may have also played a pivotal role in SHIB’s recent rally. Cryptocurrency whales have shown significant interest in the canine-themed token in recent times. As reported earlier, the top 100 ETH whales hold a combined $630M worth of Shiba Inu tokens. According to data shared by WhaleStats, the top 100 ETH addresses held a staggering $631,233,793 worth of SHIB on February 4.
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