SHIB reaches a new ATH, 3 important reasons for token’s price speculations

SHIB reaches a new ATH again due to 3 main possible reasons for this price speculation. The daily trading volume of the SHIB has reached $24.67 billion with the price surging to $0.0000699, according to data shown by Cointelegraph Markets Pro.

SHIB reaches a new ATH (All-time high):

Shiba Inu, the rival meme currency of Dogecoin, is doing wonders in the crypto market. Both of the tokens are considered special due to the likes of the billionaires like Elon Musk and Mark Cuban. Now is not the case that due to these influencers’ support SHIB reaches a new ATH. The meme currency made its previous ATH of $0.000069 on October 1, 2021. Since then the token has scorched 914% higher and SHIB reaches a new ATH of $0.0000699.

SHIB reaches a new ATH
Daily price chart of SHIB/USD
Source: Tradingview

Due to listing on the multiple exchanges, the launch of Shiboshi NFT marketplace, and SHIB’s open interest on derivative exchanges, SHIB reaches a new ATH. So we will go into further details of these 3 main reasons for token’s price bull run.

  • The listing of SHIB on multiple exchanges has made the access of tokens very easy. So, due to easy access, a lot of new customers have started to invest in the token. Some of the new listings for SHIB and the protocol’s LEASH token include the BitKan exchange, AOFEX, StealthEx, and CoinFlex. Change Now also launched a “flip DOGE for SHIB campaign” to celebrate its listing of LEASH.
  • SHIB reaches a new ATH due to the launch of the Shiboshi NFTs. NFTs are becoming a very interesting use case in the crypto world. The Shiboshi drop included 10,000 individual NFTs and community members had 24 hours to purchase them using the protocol’s LEASH token.
  • The third and last reason for the price surge of SHIB is the increasing open interest on derivative exchanges like OKEx, FTX, and Huobi.

In my opinion, the rival of Dogecoin is strengthening itself to compete with Doge. As the trust of people in the token will increase so, the investment in the token will also increase. For more content click here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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