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Shiba Inu lead developer Shytoshi Kusama has highlighted the impressive performance of $SHIB, which has experienced remarkable growth across various timeframes.
As the ongoing bull market regains momentum, Shiba Inu has emerged as one of the top performers, setting a fresh 30-day high. Kusama took to X to mark this development.
In Today’s Shiba Inu coin news, Kusama shared a chart showing that at the time of posting, Shiba Inu was experiencing a 2.2% gain on the hourly timeframe. Over the 24-hour period, the token surged by 19.6%, marking a substantial single-day increase.
The weekly growth showed a 16.8% rise, indicating steady gains. Similarly, over the past 14 days, $SHIB recorded an increase of 28.8%. The 30-day performance demonstrated a 77.9% rise, highlighting a robust rally over the previous month. On an annual scale, $SHIB’s 274.7% increase solidified its status as a top performer.
Given this impressive performance across major timeframes, Kusama responded to critics by saying, “[How] would you FUD this token?”
Shiba Inu Sees Massive Trading Volume
Moreover, trading volume emerged as another strong indicator of Shiba Inu’s upward momentum. Observers noted that $SHIB reached $7 billion in trading volume on December 1, surpassing the combined volumes of AVAX, TRX, TON, and XLM. Kaal Dhairya, one of Shiba Inu’s prominent developers, highlighted this milestone on X.
🐶 Woof woof! This is insane, I fact checked in the last 24 hours, $SHIB has fetched $7B in volume—more than double the combined trailing four tokens! 🐾#SHIBARMY, let’s unleash our pawsitivity! 🐕 Let’s bark at all the CEXs who’ve been digging up millions in trading fees from… https://t.co/SXdvUxaA9c
— Kaal (@kaaldhairya) December 1, 2024
Data from CoinMarketCap confirms Shiba Inu was among the most traded tokens in the last 24 hours, with a volume exceeding $6.08 billion.
Imminent Breakout Predictions by Analysts
Market analysts have speculated that Shiba Inu’s ongoing phase may lead to a significant price breakout. $SHIB Knight, a prominent market observer, noted that this accumulation could precede an explosive move, predicting a potential price surge to $0.000037.
Similarly, another analyst, Nebraskangooner, highlighted $SHIB’s symmetrical triangle pattern, observing a potential breakout. While the analyst did not provide specific price targets, he pointed to the closing above the pattern as a bullish signal.