Shiba

Bitcoin

Shiba Inu

Inu.

<p>After a tumultuous week, the cryptocurrency universe seems to be calming down. The charts, formerly in the red, are now turning green, with Bitcoin leading the way, closely followed by other altcoins. Even the iconic Shiba Inu crypto seems to have forgotten its recent troubles. But what are the factors that have allowed SHIB to bounce back?</p>
<h2 id="h-shiba-inu-regains-color-after-a-tumultuous-week">Shiba Inu regains color after a tumultuous week</h2>
<p>As <strong>Bitcoin fell below $57,000</strong>, other cryptocurrencies followed the same downward trend. The <a href="https://www.cointribune.com/en/crypto-shiba-inu-in-free-fall-failed-rebound-raises-fears-of-the-worst/" target="_blank" rel="noopener noreferrer nofollow">hope for a rebound</a> for SHIB fans seemed to be fading. However, recently, the situation has shifted. The world’s second most important memecoin has surprised many with its recent performance.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>According to <a href="https://thecryptobasic.com/2024/05/04/here-are-5-factors-behind-the-massive-shiba-inu-bullish-frenzy-today/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=here-are-5-factors-behind-the-massive-shiba-inu-bullish-frenzy-today" target="_blank" rel="noopener noreferrer nofollow">The Crypto Basic</a>, the Shiba Inu crypto is coming back strong today, displaying a significant increase in its value. With <strong>an intraday peak reaching $0.00002501</strong>, it records a growth of 9.4% from its recent low of $0.00002266.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SHIBEUR","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SHIBEUR","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/SHIBEUR/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">SHIBEUR chart</span></a> by TradingView
 </div>
</div> 
<p>This recovery has allowed Shiba Inu to recoup all the losses incurred this week, now showing a positive performance over seven days.</p>
<h2 id="h-the-factors-that-propelled-shib-crypto-gains">The factors that propelled SHIB crypto gains</h2>
<h3 id="h-bitcoin-whales-a-massive-injection">Bitcoin Whales: A Massive Injection</h3>
<p>Following the market’s plunge on May 1st, Bitcoin whales took the opportunity to capitalize. Indeed, they <strong>injected $2.8 billion</strong> into the market, <strong>purchasing the BTC dip at an average price of $59,000</strong>. This accumulation frenzy propelled Bitcoin’s price to $63,566, thus boosting the overall market, particularly altcoins like Shiba Inu.</p>
<h3 id="h-shibarium-blockchain-hard-fork">Shibarium Blockchain Hard Fork</h3>
<p>A major announcement from the Shiba Inu development team also contributed to SHIB’s gains. The Shibarium blockchain, in fact, successfully completed the previously announced <strong>hard fork</strong>. This update provides the community with “ultra-fast transactions” and predictable gas fees.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://accounts.binance.com/en/register?ref=35547494" target="_blank" rel="noopener noreferrer nofollow">Buy cryptos with Binance</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h3 id="h-listing-on-binance-japan-a-new-surge">Listing on Binance Japan: A New Surge</h3>
<p>The listing of the SHIB/JPY pair by Binance Japan also played a crucial role in the meteoric rise of Shiba Inu’s price. This listing has enabled Japanese cryptocurrency enthusiasts to trade SHIB with their local currency.</p>
<h3 id="h-new-margin-trading-pairs-on-kraken">New Margin Trading Pairs on Kraken</h3>
<p>Kraken has joined the movement by introducing <strong>new margin trading pairs for SHIB crypto</strong> on its platform this week. This initiative helped to strengthen Shiba Inu’s position in the market.</p>
<div class="affiliate-button"><span class="affiliate-button__link obfuscated-link" data-href="https://www.cointribune.com/newsletters/" data-target="_blank" data-rel="noreferrer noopener">Discover our newsletter</span> <span class="affiliate-button__disclaimer obfuscated-link" data-href="https://www.cointribune.com/en/sponsored-content/" data-target="_blank" data-rel="noreferrer noopener">This link uses an affiliate program.</span>
</div>
<h3 id="h-buying-shiba-inu-via-paypal">Buying Shiba Inu via PayPal</h3>
<p>This week, American residents were also able to purchase Shiba Inu via PayPal, following a partnership between cryptocurrency payment processor MoonPay and PayPal. This access to a new market has boosted demand for SHIB, contributing to its recent gains.</p>

Crypto Shiba Inu: Spectacular rebound after a week of turbulence

Table of Contents

Cointribune EN

Other articles published on May 5, 2024

Solana Primed To Establish Itself As ‘Third Major Crypto Asset’ After Bitcoin and Ethereum: Frank...

Avalanche Price Prediction: What’s Next For AVAX Post Rebound?

Pepe Coin Price Analysis: Will $PEPE Hit $0.00001 in the Coming Week?

Unprecedented $SHIB Purchase: Robinhood Witnesses 1.75 Trillion Shiba Inu Coin Transaction, Fuels...

AI Revolutionizing Agriculture Pricing

Ethereum (ETH) Skyrockets to a 2-Month High with a $35 Million Boost: The Impact of a 7% Surge

Join our free newsletter for daily crypto updates!