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Shiba Inu gains 26.5% after eToro addition and NFT release

Shiba Inu

TL;DR Breakdown

• The Shiba Inu token is trading today above $0.000008086 with a rise of 0.18 percent in 24 hours.
eToro will accept the SHIB purchase and exchange on its platform.

Cryptocurrencies are going through a very interesting period, as their rise is currently seen as inevitable. Since last week the Shiba Inu token has experienced an uptrend that looks promising to investors.

SHIB’s value is soaring as popular tokens like Bitcoin are on track to hit their all-time highs. Although bullish intensity is present in BTC and ETH, they are also facing an imminent drop. Similarly, SHIB has posted a 26.5 percent rise for a week but could potentially be headed towards a possible fall.

Shiba Inu has recovered its value

Shiba Inu

Shiba Inu shows an interesting market, and its operations have increased since the beginning of August. The cryptocurrency remains over $600 million in the volume of its operations every day with a fairly simple figure.

ShibaSwap, SHIB’s native exchange, shows a much lower contribution figure than investors had in mind. But crypto exchanges such as Huobi Global, HitBTC, Binance, and Hotbit are responsible for the new trading volume presented by the token. The SHIB-USDT is still on the list of favorites, although it has not benefited or harmed the token’s value.

Investors often wonder if Shiba Inu can hit the all-time high price it got to before the crash in May. However, the token has presently risen in value by 14,063,029.6 percent compared to its value nine months ago.

Why does the SHIB rise occur?

There are several reasons for crypto enthusiasts to think that the Shiba Inu rise is organically occurring. However, other theories suggest that the token has gained fame by adopting NFTs such as OpenSea trading cards. The token is trying to improve the market for non-fungible tokens, and it appears to have succeeded.

ShibaSwap’s measures have given investors a lot to talk about in recent weeks. Recently, a SHIB developer confirmed that ShibaSwap weekly rewards would be removed for new customers.

The rewards pause at ShibaSwap has disappointed investors, but they must understand that it is a mandatory action that staff must take. This occurs because the rewards awarded to users must be calculated manually. However, this reveals that ShibaSwap’s system is outdated because the rewards should be given automatically.

Leaving aside the ShibaSwap system, now users of the eToro platform can buy their Shiba Inu tokens. This new crypto exchange adoption could be crucial for the token’s rise in the coming weeks.

Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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