Shiba Inu Cryptocurrency Jumps 5% Suddenly; What happened?

In a surprising development that caught the market’s attention, on May 13, the Shiba Inu cryptocurrency (SHIB) saw its price jump by 5% in the last 24 hours. The price of SHIB rose to $0.00002383 during the early hours of the morning.

The sudden growth surprised the community, given the declines seen by memecoin in recent days. Shiba Inu fell 6% last week and is down 5.1% over the last 30 days. However, with the price of SHIB rising over the last day, there is expectation in the community that today could be the start of an imminent recovery and an upward rally for the second largest memecoin on the market.

The recent rise came after CoinGate announced the integration from Shiba Inu to Polygon (MATIC) and Binance Smart Chain networks. CoinGate is a cryptocurrency payment gateway that aims to act as an intermediary between digital currencies and conventional companies.

With the integration of the SHIB token into Polygon and Binance Smart Chain, CoinGate will be able to increase accessibility, as well as open up opportunities for Shiba Inu holders to participate in transactions in the physical world.

At the time of publication, the Shiba Inu price was quoted at US$0.00002326, up 3.1% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$395,134,082.

Historic Shiba Inu Event Engages Crypto Community in Unprecedented Conversation

The Shiba Inu team excited its community with news of an exclusive event, marking a new phase of interaction in the crypto universe. On May 9, the team announced a virtual meeting where the enigmatic manager of the Shib Token X account, followed by more than 3.8 million enthusiasts, would reveal never-before-shared details about the beginnings of Shiba Inu and its mysterious founder, Ryoshi .

The event, a Q&A session on Space X (formerly known as Twitter), provided Shiba Inu fans with a rare opportunity to get direct-from-the-source insights into the coin’s origins and evolution. This type of direct dialogue between the development team and the community is a significant step towards fostering an environment of transparency and cooperation.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.