Shiba Inu Price Explodes 77% Since the Start of January 2023

Shiba Inu’s price jumped nearly 77% since the start of January 2023 and is among the highest earners of the year. SHIB spiked double digits on Saturday and rose to 25% in the day’s trade before briefly retracing in price.

Watcher Guru predicted in a recent article that Shiba Inu’s price could see a breakthrough and the prediction turned out to be accurate.

SHIB reached a yearly high of $0.00001554 on Saturday and is attracting heavy bullish sentiments in the indices. Its trading volume also skyrocketed 94% on Saturday for the first time this year.

Also Read: Shiba Inu: 2 Investors Make $9 Million With a $7,900 Investment

Source: TradingView

If you had invested $1,000 in SHIB during early January, it would have turned to $1,770 on Sunday. All this in less than 35 trading days.

The price rise has brought in a sense of fresh enthusiasm among the SHIB community who are thrilled with the gains.

If the markets hold on to the momentum, Shiba Inu’s price could spike further and reach new yearly highs.

Also Read: Dear Shibarium: Here’s What Shiba Inu Investors Want From You

Shiba Inu: Price Rise & Whale Tales

shiba inu whales
Source: Pixabay

According to a recent date by WhaleStats, Shiba Inu is the most traded cryptocurrency among the top 1000 ETH-rich list.

A handful of whales have purchased or transferred trillions of SHIB tokens this year ahead of the Shibarium Beta Testnet launch.

A Binance-affiliated wallet transferred nearly 1.6 trillion SHIB tokens worth $21 million on Friday. The tokens were moved to a private and unknown wallet and the reason for the transfer remains to be a mystery. You can read more details about the transaction here.

Whales are showing interest in SHIB after the lead developer of ShibaSwap, Shytoshi Kusama confirmed that Shibarium Beta will be launched “soon”. However, a tentative release date for the Beta Testnet is yet to be confirmed.

Also Read: Exclusive: ‘Here’s What I’ll Do When Shiba Inu Reaches $0.01′

At press time, Shiba Inu’s price was trading at $0.00001442 and is up 1.5% in the 24-hour day trade. SHIB is down 83.2% from its all-time high of $0.00008616, which it reached in October 2021.