? Shiba Inu Crypto Rallies to New Heights Over Weekend: What’s Behind the Surge?


On August 5th, 2023, the Shiba Inu (CRYPTO SHIB) and Bone Shiba Swap (sister token) cryptocurrencies have been gaining a lot of attention. SHIB has been rising sharply since Saturday, with a 24-hour gain of 20%, and BONE outperforming the rest with a jump of almost 23%.

SHIB is trading around the $0.00001 psychological resistance, which is a 4-month high. Its price has risen by 13% in the last 24h and at last check, it was trading at $0.00000986. The 24-hour volume increased 236%, to $683 million, and the market capitalization increased 12.3%, to $5.81 billion.

The ongoing rally is happening despite the general risk-off attitude in the financial market, with Fitch’s downgrade of tech stocks. The sentiment towards the cryptocurrency has been improving lately, with the upcoming launch of the Shibarium project, a blockchain alternative to Ethereum. It is expected to be more energy-efficient and faster.

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