Shiba Inu (SHIB) Adds $1.4B To Its Market

On 21 June, the Shiba Inu community rejoiced when the dog-themed memecoin reclaimed the $0.00000965 price level.

The majority of the attention was focused on its ability to drop a zero, which has historically been regarded as a tremendous gain for the community.

SHIB not only reached a new price level, but it also ascended to the 14th slot in the crypto rankings by market value.

Its robust upswing was highlighted by a more than 200 percent increase in its 24-hour trading volume.

Shiba Inu traded at $0.0000119 on 21 June after a 45% rally.

The strong uptrend had pushed its price back to May’s support levels.

This coincided with an RSI run-up to the 50% level, which resulted in a significant increase in friction.

The last time Shiba Inu crossed above the $0.00001 price level, was in 2021 and it was backed by strong buying pressure.

This time the volume was limited by the prevailing market conditions which have forced investors to tread cautiously.