Shiba Inu Seemingly Eying Fresh 500% SHIB Price Explosion Based On This Surprising Metric

Since Shiba Inu (SHIB) recently took the top ten crypto spot, the meme coin continues to be among the cryptocurrencies that are the talk of the town.

As a result, top market analyst Rekt Capital believes SHIB will likely complete its macro u-shaped reversal after recording an increase of more than 200% to hit the $0.00003 level.

Source: Rekt Capital

Shiba Inu recently made waves after becoming the tenth-largest cryptocurrency based on market value after recording a massive gain from the 18th position, where its market cap stood at $5.6 billion.

Despite SHIB witnessing a pullback that has seen it drop to the eleventh position, the meme coin is still enjoying a 226% gain in the past week to hit $$0.000033 at press time, according to CoinGecko data.

Therefore, this shows that Shiba Inu has scaled its heights. SHIB is currently the second-largest meme coin, with a market value of $19.7 billion.

Shiba Inu’s Trading Volume Goes Through the Roof

Based on heightened network activity, Shiba Inu’s trading volume recently went parabolic after going past the $20 billion mark.

As a result, based on this trading volume, SHIB beat other top coins, such as Dogecoin (DOGE), Solana (SOL), Binance Coin (BNB), and XRP.

With Shiba Inu already smashing the psychological threshold of $0.00001, pundits believe $0.001 is next based on a soaring adoption rate.

The meme coin enjoys a remarkable following from the SHIB Army, and experts believe this will continue to play an instrumental role in welcoming more investors. The Shiba Inu Army recently upped its calls for leading asset management firm Grayscale to roll out a SHIB exchange-traded fund (ETF).