The price of Shiba Inu (SHIB), a well-known meme coin, has recently seen a significant increase, following an upward trajectory while coinciding with an overall market rally that is impacting various cryptocurrencies.
Recently, Zaheer shared an update indicating that the spot price of the meme coin surged by 50% over a two-day period. This surge is attributed to the naming coincidence involving Japan’s new Prime Minister, who shares a name with the digital coin “ISHIBA.”
Zaheer’s post humorously advises caution and skepticism, suggesting that consulting less knowledgeable friends about price changes should be avoided due to the mixed reactions and beliefs usually associated with unexpected market trends.
The Shiba Inu price has seen an impressive 43% increase in value over the past nine days, a notable rise compared to other cryptocurrencies and meme coins. Market activity, including trading volume, circulation, and significant transactions, has reached new highs not seen in the past 10 weeks, reflecting increased interest and speculation about Shiba Inu’s future.
The SHIB price recently showed a noticeable increase, with the cryptocurrency rising by 9.43% in the last 24 hours to trade at $0.0000204 according to CoinMarketCap data. The price chart indicates a steady climb, with significant upticks observed throughout the trading day, consolidating around $0.0000204 after slight retractions.
The recent price surge in Shiba Inu, driven by a unique naming coincidence and bullish market indicators, may trigger higher buying interest. In case of a market downturn, the SHIB price could find support at $0.00002. The post “ISHIBA Naming Coincidence Sends Shiba Inu Price Soaring 50% in 48 Hours” originally appeared on CoinGape.