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The Price of Shiba Inu Increased by Almost 50% in January

ByLouis Adams

Jan 23, 2023 #Altcoins
Reading time: < 1 minute

Meme altcoin Shiba Inu was one of the leaders of the January race in the altcoin market. Since the beginning of the year, its value has increased by more than 47%, and over the past week, the SHIB rate has strengthened by almost 20%.

The capitalization of the altcoin increased to $6.659 billion last night. According to experts, this increase is due to the upcoming project update and the launch of the Shibarium ecosystem.

The developers accelerated its creation at the end of 2022.

The community has supported the upcoming update to improve the security of Ethereum transactions and expand the functionality of the Shiba Inu project.

In addition, during the launch of the Shibarium ecosystem, a large batch of tokens will be burned, which will increase its scarcity.