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Shiba Inu Skyrockets to 14th Place, Pushing 29 Trillion SHIB Tokens Into Profits

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Shiba Inu
Shiba Inu

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Shiba Inu, a meme-inspired cryptocurrency, has witnessed an astounding surge in value, propelling it to the 14th position among the top cryptocurrencies. 

With trillion SHIB tokens in circulation, Shiba Inu has reaped substantial profitability, much to the delight of its investors. As SHIB continues to gain popularity, its ascent in the rankings reflects the growing interest and enthusiasm surrounding it.

Shiba Inu Experienced an 11% Surge Within 24 Hours

The dog-inspired meme coin continues to generate positive buzz around the crypto market with its significant performance. On June 22, the value of Shiba Inu increased by a remarkable 11% within the last 24 hours. 

This significant surge in value allowed SHIB to climb up the rankings on the popular asset-tracking platform, CoinMarketCapSpecifically, it moved up four positions to the 14th position among all listed cryptocurrencies. 

Today, the 7-day data shows that the asset has witnessed a mind-boggling increase of 22% amid the recovery in the crypto market.

On-chain Data Highlights Profitable Addresses

This significant performance that happened on June 22 pushed the market cap of SHIB to a high of $4.72 billion, representing an increase of 1.89%. According to a renowned crypto analytic firm, IntoTheBlock, about 29.9 trillion Shiba Inu coins regained profitability.

Individuals who purchased Shiba Inu, at a price range of $0.000007 to $0.000009, experienced a significant increase in profitability as their investment grew substantially, resulting in higher returns.

According to data from IntoTheBlock, over 77,280 accounts acquired Shiba Inu at prices between $0.000007 and $0.000009. This indicates that approximately half of the total profitable addresses globally, 165,530, achieved profits by purchasing SHIB within that specific price range.

The impressive price performance of SHIB has not only strengthened investors’ portfolios but also helped Shiba Inu secure a higher position in the list of the most influential cryptocurrency projects. This achievement can be attributed to recent positive developments within the Shiba Inu ecosystem.

SHIB Knight Highlights Potential SHIB Future Price

In a recent tweet by a prominent Shiba Inu community member, SHIB Knight, SHIB displays positive upward momentum while trading within the support zone, indicating potential price targets at $0.00000834, $0.00000852, and $0.00000882. 

SHIB Knight also pointed out significant support levels at $0.00000803, $0.00000794, and $0.00000781.

This suggests that if the price of SHIB goes above the targeted levels, it might be considered a bullish momentum and a potential buy signal. On the other hand, if the price drops below the highlighted support levels, SHIB might experience a massive bearish price movement. 

Notably, the Shiba Inu development team recently launched Shibacals, a physical product that represents a distinctive real-world component within the Shiba Inu project. 

This introduction marks a significant expansion beyond the digital realm of cryptocurrency, which could attract more attention to the ecosystem. 

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