Why Is Shiba Inu Price Rising?

Shiba Inu (SHIB) is witnessing a massive price surge amid the Shibarium Beta launch. The meme coin’s lead developer Shytoshi Kusama recently hinted at the Shibarium launch on February 14, Valentine’s Day, and now sent a cryptic update saying “keep popcorn on the ready”. The Shiba Inu community eagerly anticipates seeing what Kusama and his team have prepared for them.

The lead developer sparked further excitement after he changed his Twitter bio to “Tending the pine tree of life. Quickly learning to play the flute before putting Shibarium in a heart-shaped box with a bow.”

Shiba Inu Price Surge

According to CoinMarketCap data, SHIB’s trading volume has shot up nearly 70% in the last 24 hours, and it is currently trading at $0.00001161. Data depicts that Shiba Inu coin price have jumped nearly 51% over the past 30 days.

Shiba Inu has a total market value of $6,374,803,774 with a high average daily volume of $1,830,067,721.59 worth of currency exchanged over a typical 24-hour period. As of the past 24 hours, SHIB’s volume is below its average with $320,895,519.74 exchanged in total.

Read More: Top 5 Meme Coins That May Explode In January 2023

How much higher can this meme coin go?

SHIB has outperformed several other top cryptocurrencies so far this year. Even “blue-chip” cryptocurrencies such as Bitcoin and Ethereum are falling behind. Shiba Inu’s strong start this year could lead to massive returns. But no, SHIB won’t reach $1 in 2023. However, it is possible that the meme coin could touch new heights as the aforementioned launch of Shibarium will certainly play its role.

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