Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»BITCOIN NEWS»Why is Shiba Inu (SHIB) price up 7% today?
BITCOIN NEWS

Why is Shiba Inu (SHIB) price up 7% today?

By Crypto FlexsDecember 14, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Why is Shiba Inu (SHIB) price up 7% today?
Share
Facebook Twitter LinkedIn Pinterest Email

Shiba Inu (SHIB) price is seeing a positive headwind on Thursday morning after several days of extreme difficulty for investors. So far, the price of MEMCOIN has risen by more than 7% in 24 hours, once again regaining the target amount of $0.00001. As the uptrend looks set to continue, let’s take a look at what’s driving the uptick and why the recovery could continue.

Shiba Inu price follows positive cryptocurrency market sentiment.

Shiba Inu prices are benefiting as a result of the positive cryptocurrency market sentiment returning over the past day. Prices in financial markets mostly rose following the Federal Open Market Committee (FOMC) announcement on Wednesday.

Interest rates remained steady over the same period, returning between 5.25% and 5.5%, according to FOMC meeting minutes. This comes after the Federal Reserve announced that inflation rates are falling and there are no negative changes in the economy.

The announcement was well-received by industry giants such as BlackRock. Jeffrey Rosenberg, portfolio manager for systematic multi-strategy funds at BlackRock, said the FOMC minutes are a green light for investors.

In particular, the FOMC minutes revealed that interest rate cuts are expected to range from about 5.1% to 4.6% next year. Accordingly, the price of Bitcoin rebounded, surpassing $42,000 again, and the prices of altcoins such as Shiba Inu followed suit.

SHIB price at $0.00001 | Source: SHIBUSD on Tradingview.com

Can I proceed with SHIB recovery?

Cryptocurrency markets are still enjoying the spoils of the FOMC meeting minutes, despite a slight correction. Shiba Inu rose about 7.5% in the last day, taking its price above $0.00001. This recovery has also seen the cryptocurrency turn green in the 7-day chat and is currently showing a gain of 3.03%.

However, during the same period, SHIB’s daily trading volume decreased by 8%. This could mean less interest, but it could also mean that fewer investors are selling, especially considering the price is trending upward. With no major developments in the Shiba Inu ecosystem currently driving the price, a continuation of the Bitcoin rally may be the best thing for the SHIB price.

However, one factor that could continue to drive prices higher is that large SHIB addresses are choosing to take their tokens from centralized exchanges. As Bitcoinist reported, this address withdrew approximately 0.51% of the coin’s circulating supply from the exchange.

Currently, Shiba Inu bulls remain stable as prices continue to trade in a narrow range. If Bitcoin moves above $45,000, the meme coin could return to $0.000012.

Featured image by Watcher Guru, Tradingview.com chart

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Sequans starts $ 384M Bitcoin Treasury Initiative with Swan Bitcoin Partnership.

June 23, 2025

ECB Chairman Lagarde aims to seize the global order to strengthen the Euro’s global position.

June 17, 2025

Bitcoin aims for $ 115K after US CPI data prefers investors.

June 11, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Solana, Milei Moneda and Terra Classic trends

March 12, 2024

Binance Alpha point rise, retail investors face difficulties

June 10, 2025

bitcoin core – Unable to connect sparrow wallet to node using username and pass

March 29, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.