Shiba

Greed

Dogecoin

Shiba Inu

Zero

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Shiba Inu (SHIB) is back in the game as the price of the meme coin&nbsp;<a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">soared</a> as high as 4.5% in the past 24 hours to $0.00001047. Per the current price action, the cryptocurrency has once again erased one zero in its frantic bid to stay consistently uplifted. With the current price outlook, Shiba Inu has now reentered the greed zone, as most of the bulls are now in profit.
The dramatic shift in price action saw SHIB move from a 24-hour low of $0.000009626 to a high of $0.00001051. The Shiba Inu ecosystem is still characterized by intense volatility and, as such, will be until SHIB forms a strong support above the $0.00001 price level.&nbsp; <img data-entity-type="file" data-entity-uuid="e6c3dc40-cf66-46a8-bf55-bba75cff515e" src="https://u.today/sites/default/files/inline-images/SHIB_1D_graph_coinmarketcap%20%2813%29.jpeg">SHIB 1D Chart. Source: <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Notably, SHIB’s growth comes at a time when most of the token’s metrics are in the green, besides its transaction volume over the past 24 hours. Reduced buying sentiment, marked by a 25% drop to $279,344,958 has not negated the&nbsp;<a href="https://u.today/shiba-inus-shibarium-celebrates-major-milestone-while-shib-price-erases-zero" rel="noopener noreferrer nofollow">impressive performance of Shibarium,</a> whose total transaction count has soared as high as 141,393,189.&nbsp;
The Shibarium sentiment has impressively pushed the price of SHIB to new levels, and should there be a push toward resilience, this metric will have a huge role to play.
<h2 id="shiba-inu-needs-to-buckle-up">Shiba Inu needs to buckle up</h2>
Shiba Inu is the second-largest meme coin after Dogecoin (DOGE) and boasts a market capitalization of $6,151,209,230. Despite its impressive price figures, many argue that the token is still largely undervalued.
While there have been a lot of impressive strides as concerns SHIB development, including the&nbsp;<a href="https://u.today/shiba-inu-lead-shytoshi-kusama-teases-secret-ai-initiatives" rel="noopener noreferrer nofollow">onboarding of innovative new partners</a> like Bad Idea AI, the protocol in general may need to buckle up in some areas in which it is lagging behind.
These areas include but are not limited to improving its&nbsp;<a href="https://u.today/shiba-inu-burns-billions-shib-burn-rate-skyrockets-by-727870" rel="noopener noreferrer nofollow">total burn rate</a> and devising innovative approaches to usher in new and more active users on the network.

Shiba Inu (SHIB) Clears One Zero Again as Greed Returns to Market

Table of Contents

U_Today

Other articles published on Dec 19, 2023

Spot Bitcoin ETF Approval Threatens Crypto Exchange

AI for Good: How Google is building AI solutions to global problems in Africa

Gorilla & Bonk Prices Up as Meme Coins See Gains, Which Tokens Will Explode Next?

Floki Price Forecast: A Meme Coin With Growth or a Bubble?

49.82 Million BLUR Transfer to Coinbase Prime Aligns with the Token Surge

Here’s how much the most profitable Bitcoin mining company lost in a year

Join our free newsletter for daily crypto updates!