SHIBA INU IS THE NEXT BIGGEST CRYPTO WINNER! UNSEEN PRICE RALLY PROVES

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Shiba Inu traders are in for a huge surprise with the recent price/performance ratio!

The latest price performance of the famous Shiba Inu meme coin is a surprise for all traders in the market. The SHIB token shows the lowest level of average daily volatility in the entire history of coin trading. The main reason may be connected to the relatively low number of tokens burned. According to the token’s daily chart, SHIB has been moving in a straight line for the past seven days. The asset’s price did not change 1% during the week, an unprecedented price performance for an asset as historically volatile as the Shiba Inu.

shiba inu price rally

The Shiba Inu has come a long way from the days when it was just a meme coin trying to shed its identity in favor of something more utilitarian. The official launch of a decentralized platform called Shibaswap confirms Shiba Inu’s commitment to growth. Fast forward to today and Shibaswap has taken the top spot in the list of top ethereum dapps based on social signals. This is according to the findings of cryptanalyst Ben GCrypto. It was an impressive performance for DEX, who managed to beat OpenSea and Bored Ape Yacht Club, who finished second and third respectively.

Shibaswap averaged roughly $10.8 million in daily volumes according to nomics.com. For comparison, Uniswap, one of the top decentralized exchanges averaged over $1 billion in trading volume. However, this is not a fair comparison considering that the former has been around longer than Shibaswap. Stakeholders might be more interested in Shibaswap’s impact on Shiba Inu’s price. The DEX was supposed to incentivize investors to hold SHIB and even stake it to earn passive income. This bullish approach fueled SHIB’s strong rally in Q3 2021, but its limited upside has had little impact on SHIB’s price since then.

Higher exchange withdrawals are usually at discounted rates. SHIB is trading at a huge discount from its current high (ATH). Shibaswap has had a positive impact on SHIB’s performance so far. However, the impact is relatively limited compared to market forces. Robust growth of the Shibaswap ecosystem would likely encourage more people to stake their SHIB, but that remains to be seen.

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