The price of Shiba Inu has seen a 26% recovery since the crypto market crash in the first two weeks of May. The price increase is still continuing as the SHIB has gained more than 6% in the last 24 hours. The reason behind the rapid rally is the accumulation of whales seen from the bottom of $0.00000988.

Meanwhile, 1.096 billion Shiba Inu tokens have been burned in the past 24 hours, while the burning rate rises to 121.56%. SHIB’s circulating supply now reached nearly 553 trillion.

Shiba Inu (SHIB) price gains momentum

SHIB price is currently moving near the $0.000012 level. The increase in whale transactions in recent days indicates interest at low price levels.

According to data from Whale StatisticsSHIB has become the most traded token in the top 10 tokens held by the Top 500 Ethereum whales in the past 24 hours.

interesting, ETH whale”BlueWhale0073Shiba Inu (SHIB) have gathered since the price drop to $0.00000988. The whale bought 375 billion SHIB tokens for $4.56 million in the last 24 hours. Also the ETH whale “BlueWhale0073” bought 109 billion SHIB tokens worth $1.40 million on May 13.

Meanwhile, the second largest meme token, Shiba Inu, has surpassed Dogecoin in its Twitter following. In the past week, the number of wallets with Shiba Inu (SHIB) has increased enormously. In addition, SHIB transactions on exchanges have been increasing in recent days. KuCoin reveals that SHIB is one of the top 10 coins today based on search popularity.

Shiba Inu sees a hopeful May ahead

Shiba Inu (SHIB) rose 25% after Middle East-based crypto exchange Rain listed the token for trading last week. In March, the Rain exchange asked its followers on Twitter if the exchange should mention SHIB. The community voted for the listing. However, the SHIB list on the Robinhood app remains the most influential list of the second largest meme crypto in the year.

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a significant period of time and currently covers all the latest updates and developments in the crypto industry.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

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