- SHIB soared nearly 20%, amid the drop in global market capitalization.
- The analysis shows that the main reason for this rise is due to the listing of the crypto on the Robinhood exchange.
- Now, the global crypto market has risen slightly, pushing BTC and other cryptos higher.
Shiba Inu is no longer just a crypto meme, she has proven herself worthy of recognition. Despite the drop in the value of the global cryptocurrency market over the past week, SHIB showed its April bullish trend as predicted by many cryptocurrency analysts.
According to Coinmarketcap, Shiba Inu leads in the 15th position with an increase of almost 20.4% in the last 24 hours and recording a rise of 2.7% in the last week.
It should be noted that Robinhood Financial LLC recently announced the listing of SHIB on its exchange, which is believed to be behind the skyrocketing price of the cryptocurrency.
Additionally, the crypto’s latest project – SHIB the Metaverse – has now started a live ‘Land Bidding Event’, where leash holders can now access, bid and purchase land and property in the Shiba Inu. Metaverse. This could be one of the reasons for a lucrative gain for the SHIB crypto.
Additionally, the arrival of Shiba Inu’s AAA game studio on board could also be another point for the rise in value. SHIB also had its all-time high price (ATH) of $0.88 at the end of October, where it reported over 75% of its value in the crypto market.
Since January 2022, the crypto market has been following trendline support, which has been slightly paused due to its recent dip in value. However, today the global crypto market rebounded 1.47%, registering $1.87 trillion in value. Unlike the previous day, this ascent allowed bitcoin and other altcoins like ETH, BNB, XRP, SOL, ADA, etc. to wave a green flag.
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