{"id":9320,"date":"2024-09-25T12:09:46","date_gmt":"2024-09-25T12:09:46","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=9320"},"modified":"2024-09-25T12:09:46","modified_gmt":"2024-09-25T12:09:46","slug":"shiba-inu-shib-explodes-to-a-one-month-high-as-most-investors-turn-profitable","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=9320","title":{"rendered":"Shiba Inu (SHIB) Explodes to a One-Month High as Most Investors Turn Profitable"},"content":{"rendered":"<p><strong>TL;DR<\/strong><\/p>\n<p>Shiba Inu (SHIB) surged 4% in an hour, reaching $0.00001542, and its market cap exceeded $9 billion.<br \/>\nThe rally could be potentially linked to reduced exchange supply and Shibarium\u2019s milestone of processing 7 million blocks.<\/p>\n<p><span><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/09\/SHIB_CB-39.jpg\"><\/a><\/span><\/p>\n<p>Shiba Inu (SHIB) has gained momentum lately as its price continues to reach new local tops. It has spiked 4% in the past hour, making it the best-performing cryptocurrency from the top 100 list for that period.<\/p>\n<p><span>SHIB currently trades at around $0.00001542, a figure last observed at the end of August. Its market capitalization surged above $9 billion, making it the 16th-biggest in the entire cryptocurrency sector.<\/span><\/p>\n<p><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/09\/SHIB-Price-17.png\"><\/a>SHIB Price, Source: CoinGecko<\/p>\n<p><span>Its latest revival coincides with the decreased supply of SHIB tokens on crypto exchanges. According to CryptoQuant, the figure <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptoquant.com\/asset\/shib\/chart\/exchange-flows\/exchange-reserve?exchange=all_exchange&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line\" target=\"_blank\" rel=\"noopener\"><span>plummeted<\/span><\/a><span> to a seven-month low on September 25, with approximately 141 trillion coins\u00a0<\/span><span>held<\/span><span>.\u00a0<\/span><\/p>\n<p><span>This<\/span> <span>could be seen as<\/span><span> a bullish factor since it suggests a shift toward self-custody methods and reduced immediate selling pressure.<\/span><\/p>\n<p><span>Another element potentially <\/span><span>playing a role for<\/span><span> SHIB\u2019s uptick could be <\/span><span>the further progress of Shibarium<\/span><span>.<\/span> <em><span>CryptoPotato<\/span><\/em> <a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/shiba-inu-shib-hits-another-major-milestone-details\/\" target=\"_blank\" rel=\"noopener\"><span>reported<\/span><\/a><span> that the layer-2 blockchain solution recently reached a <\/span><span>major<\/span><span> milestone of over 7 million processed blocks.\u00a0<\/span><\/p>\n<p><span>Somewhat expectedly, the<\/span><span> price rally has benefited SHIB holders.<\/span><span> IntoTheBlock data <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/app.intotheblock.com\/coin\/SHIB\" target=\"_blank\" rel=\"noopener\"><span>shows<\/span><\/a><span> that 50% of those exposed to the token are currently sitting on paper profits, while 43% are underwater.<\/span><\/p>\n<p><span>The situation seemed less optimistic <\/span><span>in September last year<\/span><span> when almost 90% of the Shiba Inu holders <a href=\"https:\/\/cryptopotato.com\/grim-statistics-almost-90-of-shiba-inu-shib-holders-currently-underwater-but-theres-more\/\">were in the red<\/a>.<\/span><span>\u00a0<\/span><\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/shiba-inu-shib-explodes-to-a-one-month-high-as-most-investors-turn-profitable\/\">Shiba Inu (SHIB) Explodes to a One-Month High as Most Investors Turn Profitable<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\">CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>TL;DR Shiba Inu (SHIB) surged 4% in an hour, reaching $0.00001542, and its market cap exceeded $9 billion. The rally could be potentially linked to reduced exchange supply and Shibarium\u2019s milestone of processing 7 million blocks. Shiba Inu (SHIB) has gained momentum lately as its price continues to reach new local tops. It has spiked [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":9321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9320"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9320"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9320\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9321"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}