Shiba Inu is now the third-best-performing cryptocurrency among the top 100 projects after rising 4% over the past 24 hours. At the same time, SHIB lagged behind Near Protocol (NEAR) with gains of 5.8% and Sui (SUI) with gains of 5.3%. Nevertheless, SHIB is still down 16% from the prior week despite the recent rebound.
Shibarium network updates are responsible for SHIB’s most recent surge. Due to heavy traffic, the layer-2 network for the project had to be suspended, which created technical issues. However, the network has been improved and is “ready” to go live, according to main developer Shytoshi Kusama, who announced this yesterday. Additionally, Kusama announced that more validators would become operational today, providing users with more opportunities to stake their BONE tokens.
The “Genesis of the Shiba State” paper was also made public by the Shiba Inu (SHIB) team. Every element of the SHIB project is covered in this document. However, the greater crypto market is still in a bear market, thus the present rally will pass quickly, and SHIB may experience another fall shortly.
Related Reading: Shiba Inu: Shibarium Ready to Go After Additional Tests
Good Time for Shiba Inu Investors to Buy
Despite the increases over the past day, SHIB is still moving in a bearish direction overall. New investors have a great opportunity to participate in the asset at cheaper prices.
For about $8.32, an investor can become a SHIB millionaire by purchasing one million SHIB tokens. Additionally, an investor can buy 100 million SHIB tokens for $832. The $8.32 investment would become $86.16 if Shiba Inu (SHIB) reached its all-time high of $0.00008616, while the $832 investment would become $8616, representing a gain of around 935%.
The live Shiba Inu price today is $0.000008 with a 24-hour trading volume of $211,854,085. Shiba Inu is up 2.40% in the last 24 hours.
Shiba Inu is up 2.40% in the last 24 hours. Source: CoinMarketCap