Shiba

Cryptocurrency

Terra

Shiba Inu

Time

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 <p class="paragraph">After more than a year, the cryptocurrency market appears to have finally shaken off the bearish trends of the “crypto winter.” In the second half of October, multiple cryptos started a decisive rally that has seen many reach heights not seen in a long time.</p> 
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 <p class="paragraph">While major players like Bitcoin (BTC), which first rapidly rose above $35,000 and is hovering around $44,000 at the time of publication, or Ethereum (ETH) – itself above $2,200 for the first time since May 2022 – have been at the center of attention, many altcoins and meme coins have also joined the bull run.</p> 
 <p class="paragraph">Dogecoin (DOGE) and Floki Inu (FLOKI) have already entered a breakout, and on December 6, another major “dog coin,” Shiba Inu (SHIB), appears to have joined the surge, according to an X post by market analyst Jake Wujastyk based on analyzing trend lines tracking data dating back to the Terra (LUNA) collapse in May 2022.</p> 
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    <p lang="en" dir="ltr">$SHIB #Shib #Shiba Another coin <a rel="dofollow" title="breaking" href="https://thebittimes.com/tag/breaking.html">breaking</a> out. pic.twitter.com/IYwK5vlc0b</p>— Jake Wujastyk (@Jake__Wujastyk) December 6, 2023
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 <p class="paragraph">Wujastyk has been closely following the recent developments – both on the crypto market and on the stock market – and has already also noted that other altcoins like DOGE and Solana (SOL) – another star of the current bull run – are decisively <a rel="dofollow" title="breaking" href="https://thebittimes.com/tag/breaking.html">breaking</a> out.</p> 
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 <p class="paragraph">SHIB’s current trend is further corroborated by a notable spike in volume – particularly observable in the last 48 hours – that aligns with the dog token’s most recent and most significant price surge.</p> 
 <h2 class="wp-block-heading" id="h-shib-price-analysis">SHIB price analysis</h2> 
 <p class="paragraph">SHIB’s recent performance is very much illustrative of the renewed investor confidence and even enthusiasm for the potential of cryptocurrencies. The token is up 10.12% in the last 24 hours and is worth $0.00001002 at the time of publication.&nbsp;</p> 
 <p class="paragraph">In terms of market cap, Shiba Inu takes the 16th spot on December 6 and is 15th cryptocurrency when it comes to trading volume.</p> 
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   SHIB 1-day price chart. Source: Finbold
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 <p class="paragraph">SHIB has also had a strong week and is up 20.88% in the last 7 days, and a rather strong month being 22.20% – though it has spent several weeks in the last 30 days trading mostly sideways.&nbsp;</p> 
 <p class="paragraph">Despite its most recent performance and the apparent breakout, SHIB is currently up around 8% year-to-date (YTD) and has to climb significantly more to reclaim its yearly highs seen in February.</p> 
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/shib-is-breaking-out-time-to-buy-shiba-inu-tbt72792.html">https://thebittimes.com/shib-is-breaking-out-time-to-buy-shiba-inu-tbt72792.html</a></p>

SHIB is breaking out; Time to buy Shiba Inu?

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TheBitTimes

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