Shiba Inu (SHIB), a popular meme coin, has experienced a sharp rise in its price, increasing by more than 80%. This price movement has attracted significant attention from both traders and investors who are now speculating about the reasons behind the surge.
Many are attributing this dramatic price increase to potential transactions by 'whales' – large holders of the cryptocurrency who might be driving the price up through substantial buys.
The recent surge in SHIB also highlights broader market trends, as meme coins show considerable volatility and the potential for large gains, prompting further interest in this altcoin segment. Market participants are closely monitoring SHIB’s price movements to predict its future trajectory.
