Shiba Inu (SHIB) price will reach zero if this trend continues

Given the overall recovery in the crypto market, some metrics showed very bullish sentiment on Shiba Inu (SHIB). In the last 24 hours, SHIB trading volume has increased by approximately 64.29% and currently stands at $371.97 million.

SHIB could head towards $0.0001

Most traders consider trading volume to be the most important metric for evaluating a particular coin.

An increase in trading volume usually indicates that traders’ interest in the asset is growing. Rising prices with increasing volume indicate strong buyer confidence. This is the case with SHIB, especially after the token saw a 5.74% price increase in the last 24 hours.

If this trend continues, Shiba Inu could eventually lose at least one of its zeros. This means that the SHIB cryptocurrency could trade at $0.0001. Some analysts are already seeing the possibility of a price increase of up to three digits for the token.

Based on the token’s price history presented by CryptoRank, the historical return for the crypto market’s second largest asset in the meme coin sector in October is 213.2%.

The meme coin has seen such a remarkable rise in the past. In October 2021, SHIB price recorded a monthly increase of 833.6%. Therefore, the SHIB community is expecting a repeat of this massive price increase.

Shytoshi Kusama addresses claims of billion-dollar SHIB wallets

In other Shiba Inu-related news, the protocol’s lead developer, Shytoshi Kusama, recently addressed claims circulating in the community that people allegedly own SHIB wallets worth billions of dollars. He urged interested parties to confirm the veracity of such claims before blindly believing them, and also offered a simple method to verify them.

The first step is to ask the supposed owner to select a number between 1 and 100. The next step is to publicly display the amount and then send the exact number of SHIB tokens from the claimed wallet to another wallet address.