InstaForex

October 28, 2021

Shiba Inu (SHIB) Rocketing Speed! 3 Factors Worth Paying Attention To!

 Shiba Inu (SHIB) thinned criticism and skepticism of the crypto community with three consecutive daily surges in just four days.


Based on month-to-date price movement observations, SHIB recorded a 1.124% jump from a daily low, $ 0.00000718 on October 1 to its latest all-time high (ATH), $ 0.00008785 this morning.


The market value of SHIB recorded a current value of $ 30.9 billion is chasing Dogecoin (DOGE) which is only $ 31.3 billion.



Three factors that invite SHIB price acceleration:


SHIB listing and collaboration

Several crypto exchanges have accepted the presence of SHIB and Doge Killer (LEASH), the second token in the Shiba Inu ecosystem.

Exchanges involved: Bitkan, AOFEX, StealthEx, Change Now, and CoinFlex.

Change Now has also launched a DOGE to SHIB exchange campaign in response to the LEASH listing.

Cryptocurrency provider, NOWPayment has partnered with Shiba Inu, making LEASH and SHIB accepted as payment mediums, used for donations and available for salary payments.

Shiboshi NFT

Shiba Inu has launched 10,000 individual non-fungible tokens (NFT) known as Shiboshi.

Community members have 24 hours to get it using the LEASH token.

Shiboshi is available at OpenSea.

A sudden surge of interest

Open interest (OI) for SHIB futures on several exchanges such as OKEx, FTX, and Huobi recorded a remarkable surge.

Based on observations, the OI record jumped to a price level of $ 178.95 million on Oct. 27 from $ 15.7 million.

In line with the phenomenon, the SHIB price also showed a positive movement towards the ATH level.

At the time of writing, SHIB is trading at $ 0.00008274 with an increase of almost 70% in 24 hours. While DOGE still recorded a decline of over 7%, it traded at $ 0.24.