Shiba Inu Token Witnesses Significant Surge, Head Towards $0.0008 ATH

By: Isha Das

The meme coin, Shiba Inu (SHIB), has recently experienced an upsurge in adaptation, leading to an increase in the number of new daily addresses. Consequently, this expansion trend of the crypto token could kindle a rise in SHIB's price, possibly pushing it up to a new all-time high (ATH).

Reports indicate that SHIB observed over 8,400 new daily addresses in March, a substantial growth from its February numbers. This increase in adaptation is credited to exciting initiatives introduced by the Shiba Inu team, one prominent innovation being the launch of K9 Finance, a liquid staking derivatives platform on the Shibarium network. Liquid staking appears to be a trend this bull cycle as it increases network activity as seen with Ethereum.

An uptick in interest in SHIB has positively impacted its price, which witnessed a gain of over 162% in the last seven days. If SHIB manages to hold onto this rapid growth, it will likely sustain the bullish momentum. Currently, SHIB's all-time high stands at $0.0008, and with the ongoing bull market, it is predicted that SHIB might surpass this level soon.

In another news, all 20 cryptos including Bitcoin cash and Ethereum classic listed in CoinDesk 20 showed significant gains last week, led by SHIB's impressive 106% leap higher.