The growth is driven by technical factors and the overall recovery of the crypto market.
Shiba Inu on Monday pushed off levels near $ 0.000028, from which a rally started at the end of October, which raised the price of the token three times over the week. Thus, the 13th cryptocurrency completed the "top" figure of the technical analysis.
According to the WhaleStats service, which tracks cryptocurrency movements in the Ethereum network, ETH crypto-whales have bought 4 trillion Shiba Inu tokens for $ 136 million in the last 24 hours, RBC writes. SHIB has become the most popular token among the 1000 largest Ethereum addresses.
In mid-December, Europe's largest cryptocurrency exchange Bitstamp announced that it was postponing Shiba Inu's listing to the next year due to technical issues. On December 14, SHIB began trading on the Spanish crypto exchange Bit2Me. A day earlier, Shiba Inu and Dogecoin were added to the Indian Unocoin exchange.
SHIB now has more than 1 million holders, while crypto-whales on 1,000 large wallets control 9% of the supply, newscryptocoin writes.
December has become a very active period for accepting Shiba Inu for payments, writes happycoin.club. More than 10 different companies and stores have accepted the token as a way of paying for goods and services this month.
Shiba Inu developers are preparing to unveil a Layer 2 scaling solution called "Shibarium", cryptocurrency.tech writes. This can significantly reduce the size of commissions, which will give a tangible impetus to the growth of the popularity of the coin. In addition, the project is also considering the development of metaverse space.
Meanwhile, the Canadian company Ask The Doctor is about to file a lawsuit against the team of token creators, accusing them of fraud. Potentially, the trial process can turn into a catatropho for SHIB, which even without that was experiencing difficulties in the last months of correction.