Shiba

Wednesday

when

Shiba Inu

Reserve

<figure> 
 <figcaption>
  Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<p dir="ltr">After a brief period of broader market volatility, the bulls are back in action, with Shiba Inu (SHIB) in the spotlight after the U.S. Federal Reserve interest rate cut. The Fed shocked the global market on Wednesday when it&nbsp;<a href="https://u.today/bitcoin-surges-as-fed-goes-for-massive-rate-cut">unveiled a 50 basis point interest rate cut</a>, the first time in four years. The market first experienced a negative slump, however, altcoins are in epic bullish mode at the moment.</p>
<h2 id="shiba-inu-wins-the-day">Shiba Inu wins the day</h2>
<p dir="ltr">Amid the market rebound, Shiba Inu's price has&nbsp;<a href="https://coinmarketcap.com/currencies/shiba-inu/">jumped</a> by more than 6% in 24 hours to $0.000014. This is quite unusual for a token that has largely found it difficult to maintain support above $0.000013 over the past week.</p>
<p dir="ltr">The meme coin has seen almost all of its metrics shoot up from previous lows. Beyond the price surge, the token now has a trading volume of $216,950,085, a metric up by over 60% in 24 hours. With this volume showing proof of positive trader optimism, SHIB's price might be up for even more of a rebound overall.</p>
<p dir="ltr">Other core network metrics, like daily active addresses, have also received a positive boost overall.&nbsp;</p>
<h2 id="where-shib-is-heading-from-here">Where SHIB is heading from here</h2>
<p dir="ltr">With Shiba Inu leading the altcoin resurgence, it remains unknown how high the token could rise amid its newfound boost. Shiba Inu has been commanding&nbsp;<a href="https://u.today/shiba-inu-skyrockets-129-in-key-metric-as-shib-whales-make-comeback">intense whale transactions</a> over the past few weeks, underscoring how many had been pushing for its silent recovery.</p>
<p dir="ltr">Most of the internal ecosystem growth that Shiba Inu has been recording may now contribute toward impacting the price reboot overall. Though the&nbsp;<a href="https://u.today/78-million-shib-sent-to-dead-wallet-as-burn-rate-shoots-up-3348">SHIB burn rate</a> is the lowest it has been in a while, previous token torches have reignited hope in the ecosystem’s commitment to deflating the humongous supply.</p>
<p dir="ltr">On a conservative basis, experts project that the SHIB price might soar toward the $0.000015 range if the bullish trend is sustained over the next week.</p>

Shiba Inu (SHIB) Biggest Beneficiary of Rate Cut, Here's Why

Table of Contents

U_Today

Other articles published on Sep 19, 2024

SEC Charges Two Crypto Platforms with Fraud in Investment Scam Crackdown

Stand With Crypto reports 121K have used voter registration since 2023

Russian Ministry of Finance May Introduce Excise Tax on Electricity for Cryptocurrency Miners

China Cracks Down on Crypto Pyramid Scheme, Victims Reimbursed

TON blockchain daily active addresses surge by over 3,435% in 2024

This new memecoin is poised to explode like Pepe

Join our free newsletter for daily crypto updates!