Shiba inu

Shiba Inu And Its Sister Coin BONE Rally Into The Weekend — What’s Driving The Upside

Shiba Inu (CRYPTO: SHIB), which has been on a lean run for much of this year, hit a near-term bottom earlier this week. Since Friday, however, the meme crypto has been gathering some momentum.

The upward momentum accelerated on Saturday. The crypto opened the session at $0.00000731, up from $0.0000070 and has traded in a range of $0.00000729 to $0.00000763. At last check, SHIB rose 3.18% at $0.00000751.

Despite the spike, the crypto is still trading off its year-high of $0.000016 in early February.

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Saturday’s upside came despite the rest of the financial markets, especially risk assets, moving to the downside as some strong data ignited worries about more potential rate hikes from the Fed.


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Incidentally, Bone ShibaSwap (CRYPTO: BONE), the governance token of ShibaSwap, a decentralized exchange that belongs to the Shiba Inu coin project, has been outperforming. BONE rallied 5.06%.

Shiba Inu lead developer Shytoshi Kusama said in a blog post this week that Shiba Inu is the title sponsor of the Blockchain Futurist Conference, where Shibarium and ecosystem’s “Worldpaper” will be released.

See Also: Best Cryptocurrencies

Photo: Shutterstock

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