Shiba Inu's price movement today can be attributed to a combination of factors that have stirred excitement within its community. The announcement of an airdrop for the TREAT token by the Shiba Inu ecosystem team has generated significant buzz, as users eagerly anticipate the opportunity to claim the new token. This development, coupled with the listing of TREAT on major exchanges like KuCoin, Bitget, and Gate.io, has fueled optimism among investors. Additionally, Shiba Inu's lead developer, Shytoshi Kusama, has been vocal in defending the project's progress against critics, which may have bolstered community confidence.
The Shiba Inu ecosystem has also witnessed a notable increase in large holders' inflows, marking one of the highest daily figures in its history. This surge in interest from significant investors suggests a growing belief in the project's potential, further supporting the upward momentum. Moreover, the formation of a bullish cup-and-handle pattern on Shiba Inu's weekly chart has analysts projecting a breakout target, adding to the positive sentiment surrounding the cryptocurrency.
Shiba Inu's price has risen by 2.08% today, reaching a current price of $0.000022. The cryptocurrency's price fluctuated between a low of $0.000021 and a high of $0.000022 throughout the day.