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Given the broader crypto market rebound, Shiba Inu (SHIB) has seen some metrics display very bullish sentiment. In the last 24 hours, SHIB trading volume has surged by approximately 64.29% and currently sits at $371.97 million.
SHIB could head toward $0.0001
Most traders consider trading volume the most vital metric for valuing a particular coin.
A spike in trading volume usually indicates that traders’ interest in the asset is growing. Rising prices accompanied by increasing volume suggest strong buyer confidence. This is the case with SHIB, especially after the token registered a 5.74% increase in price in the past 24 hours.
Shiba Inu may eventually lose at least one of its zeros if this trend continues. This means that the SHIB crypto could trade at $0.0001. Some analysts are already eyeing the possibility of up to a three-digit price gain for the token.
Based on the token's price history presented by CryptoRank, the historical return for the crypto market's second-largest asset in the meme coin sector in October is 213.2%.
The meme coin has made such a notable surge in the past. In October 2021, the SHIB price recorded a single-month surge of 833.6%. Therefore, the SHIB community is anticipating a recurrence of that massive price gain.
Shytoshi Kusama address claims of billion-dollar SHIB wallets
In other Shiba Inu-related news, the protocol's lead developer, Shytoshi Kusama, recently addressed claims circulating within the community about individuals allegedly owning billion-dollar SHIB wallets. He asked interested parties to confirm the veracity of such claims before blindly believing them and also offered a simple method to verify them.
The first step is to ask the supposed owner to choose a number between 1 and 100. The next step is to publicly show the amount and then send the exact number of SHIB tokens from the claimed wallet to another wallet address.