Shiba Inu (SHIB) closes the week that started off as the most popular cryptocurrency on the market with the dog meme token that ranked first on CoinMarketCap’s trending list.
SHIB closed the week with an increase of 18%! Will it continue?
SHIB currently hovers above both Bitcoin (BTC), the best-known digital asset in the cryptocurrency market, and Fetch.ai (FET), currently in third place.
SHIB is the most trending cryptocurrency. Source: CoinMarketCap
Market leader in terms of searches and popularity The most trending coin Shiba Inu is currently changing hands at $0.000009747 in the last 24 hours, up 6.15% and an increase of 18.08% from the previous week.
SHIB 7-day price chart. Source: Finbold
The dog meme token, which added $900 million to its market cap last week, is now worth a total of $5.35 billion.
The next target level for SHIB is now $0.00001 after breaking past $0.0000087, the critical daily moving average (MA) 50 barrier that has served as the ceiling for the cryptocurrency since November 10.
However, according to the most recent vote count by members of the cryptocurrency community on CoinMarketCap using the platform’s Price Forecast tool, the crypto community expects SHIB to trade at an average price of $0.000010439 on January 31, 2023.
It’s also important to note that Finbold identified the Shiba Inu as one of the top five meme currencies to follow in January 2023.
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