After the correction and consolidation, the price of the Shiba Inu dropped by about 50%, but managed to gain 40% again. With this increase, SHIB became one of the most traded cryptos.
Shiba Inu ranked among the top five by daily trading volume on CoinMarketCap, along with Binance Coin (BNB), Bitcoin (BTC) and Ethereum (ETH). Traditionally, USDT tops the list with a trading volume of $76 billion. Shiba Inu has reached a trading volume of $12.2 billion in the last 24 hours.
Despite its volatile nature, the Shiba Inu continues to attract the attention of investors. The percentage of short-term holders has reached 40%, which is generally considered a factor of volatility, according to on-chain data. With the increase in the number of short-term investors, it is likely that there will be a selling pressure in the market.
SHIB is trading at $0.00005969 at the time of writing, according to CoinMarketCap data.