The second largest meme coin on the crypto-currency market has seen big gains in the last 24 hours, with its price jumping 18.21% and trading volume increasing by 93.45%. It now stands at $1,012,222,402. At the time of writing, SHIB is hovering at $0.00001414, finally breaking the $0.000011 to $0.000012 price range.
Shiba Inu price explodes by 18%.
This breakout has allowed the price of Shiba Inu to jump amidst increased selling pressure. A break of this key barrier could target $0.000151 and if the break continues, strong support appears to be building at $0.0000108 in the event SHIB price pulls back.
SHIB could have private trades
Shiba Inu has added a new feature that allows SHIB users to conduct anonymous transactions via the Bermuda Privacy dApp. This means that altcoin meme transfers can have similar performance to other privacy currencies on the market, such as ZCash and Monero. As a result, the recipient of SHIB only sees the address of the dApp, without disclosing the personal wallet address of the sender during the transfer.
Shibarium launch to cause price spike?
The anticipated launch of an upcoming blockchain called “Shibarium” is one of the reasons for the price spike of Shiba Inu.
In a blog post, the developers of Shiba Inu wrote, “We are nearing the final touches of the Shibarium beta and its imminent launch.” They also added that “patience is key, and some people see Shibarium as a price-pumping tool, but that’s not what the project is about and never has been.”
DOGE and BONE up too
Other dog-related meme currencies have also witnessed price increases. Dogecoin, the original Shiba Inu-themed coin, has risen 7.15% in the past week and BONE, the Shibarium gas token, which saw a massive price increase in early January, has risen 11.47% in the past 24 hours.