Violet Vallaya
Shiba Inu (SHIB) has experienced a sudden surge, jumping an impressive 7% as of 7:50 a.m. ET on Tuesday, according to CoinMarketCap.
As the crypto community watches closely, the question on everyone’s mind is whether this signals the return of the SHIB bull run.
A bull run refers to a sustained increase in the price of a particular asset, typically accompanied by high investor optimism and buying activity. In the cryptocurrency market, bull runs are not uncommon, often driven by factors such as positive news, increased adoption, or speculative trading.
These surges can propel prices to new highs, attracting even more investors seeking to capitalize on the upward momentum.
The Shiba Inu, often known as the “Dogecoin Killer,” witnessed a remarkable surge in price during the 2021 bull run. Starting from $0.000000000073 in January 2021, SHIB reached a peak of $0.00008845 on October 28, 2021, before eventually closing the year at $0.00003538 on December 31. An investment of $100 at its peak would have yielded over a million dollars.
Shiba Inu was trading at $0.000030 with a 24-hour trading volume of $2,076,496,213 as of 11:45 a.m. ET on Tuesday. SHIB is up 2.49% in the last 24 hours and 15.72% in the past seven days. The native crypto if the Shiba ecosystem has a market cap of $17,609,866,826 with a circulating supply of 589,289,410,812,691 SHIB coins, latest data from CoinMarketCap showed.
