Shiba Inus 30% surge causes a social media sensation

The Shiba Inu has become a social media sensation after recording a surge of around 30% over the weekend. This surge caused the price of SHIB to reach his high of $0.00001766 before returning to its current price of $0.00001575.

At the time of writing, the Shiba Inu was still bullish as analysts predicted further prices in the coming days.

To help new investors and traders eyeing the coin, Coinjournal created Why SHIB surged over the weekend, and also provided insight into some of the best places to buy SHIB.

For more information, read on.

What is the cause of the sudden rise in Shiba Inu prices on weekends?

Crypto Traders And Investors See Sharp Rise In SHIB Price Shiba Inu Metric This indicates an increase in the SHIB burning rate. On August 14th, his burn rate jumped 85% when SHIB recorded his 27% surge. To date, Shiba Inu Network has burned his SHIN tokens worth $6.36 million.

About 10 days ago, Binance also announced the addition of AVAX and SHIB support for payment cards issued in Europe. This will give Shiba Inu more exposure to the European market.

I am pleased to inform you @Binance Added SHIB to the list of supported tokens for Binance Cards issued in Europe.

You can now pay using SHIB at over 60 million merchants worldwide. Plus, get up to 8% cashback and no annual fees or FX fees!https://t.co/0Xj7IXPyt0 pic.twitter.com/FqINtnHFWx

Shib (@Shibtoken) August 5, 2022

Shiba Inu price prediction

The majority of cryptocurrency analysts predict that the price of SHIB Inu will rise further in the coming days, seeing as SHIB has broken out of the dominant cup and handle pattern. This breakout has increased the chances of the Shiba Inu registering further price hikes.

The majority expect Memecoin to record a 50% surge by September, with a target price of $0.00002253.

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Disclaimer

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$SHIB Social Media Trends

JUST IN: Shiba Inu turned over #avalanche To become the 12th largest cryptocurrency in the world by market value.

Watcher.Guru (@WatcherGuru) August 14, 2022

Thank you for being the best community ever #Shibu Army! pic.twitter.com/8amWPSbQam

Shib (@Shibtoken) August 14, 2022