With the crypto market and the Shiba Inu community experiencing fresh confidence, SHIB may be in for one of its strongest weeks of the year.
Throughout the week, cryptocurrency investors ignored central bankers’ predictions of rising interest rates and instead concentrated on the likelihood that BlackRock will submit a Bitcoin ETF.
According to trade view statistics, Shiba Inu rocketed to highs of $0.00000846 over the week, putting it on track for a 10.96% weekly gainβthe most for such a time period since January.
Shiba Inu is still on track to have its second consecutive green week in June. Having said that, if a positive close is made today, Shiba Inu will have gained for 10 consecutive days since June 15.
After proving the existence of oversold circumstances, Shiba Inu started to rally from lows of $0.00000649. Shiba Inu has maintained a positive price trend and is on pace to post gains for ten consecutive days. The surge peaked at highs of $0.00000846 on June 22.
The Shiba Inu community is applauding this extraordinary accomplishment, and Lucie, a representative of the Shiba ecosystem, is enthused about the possibility of a bull run for SHIB.
SHIB was trading at $0.000008 at the time of writing, up 2.28% over the previous 24 hours.
Large holders’ actions have been shown to often affect the price of SHIB. The week beginning June 19 witnessed a massive 7.44 trillion SHIB in significant transaction volume, according to IntoTheBlock.
Shiba Inu’s enormous transaction volume over the past 24 hours is estimated by on-chain analytics company IntoTheBlock to be 767.35 billion SHIB.
According to IntoTheBlock, big transactions are ones that are over $100,000. A rise in this measure is often indicative of increased activity by whales or huge holders who are either buying or selling.
