Shiba Inu (SHIB) Price Jumps 19.30% Within Week as These Triggers Occurred

Yuri Molchan

Popular canine token has soared in price significantly over past week thanks to these drivers

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The second largest canine crypto in terms of market capitalization, Shiba Inu, has demonstrated an impressive rise over the past week as its price jumped by nearly 20%.

SHIB price close to “burning” a zero

Since the middle of last week, Shiba Inu has been growing by leaps and bounds.

On Tuesday, Jan. 10, the price soared by 10%, and from Wednesday to now, it has spiked by over 12%, hitting the $0.00000980 price mark.


In early November when the crypto market was hit by the insolvency of the FTX giant and its founder, former crypto billionaire Sam Bankman-Fried, Bitcoin and altcoins have plunged. Shiba added the fifth zero to its price, and now, it seems, it is preparing to eliminate it once again.

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Image via TradingView

Bitcoin rising close to $19,000

Another factor that has likely contributed to the coin’s growth is the rise of the Bitcoin price. Over the past few days, BTC suddenly regained the $18,200 level, and on Jan. 12, it touched $19,000 before rolling slightly backward.

SHIB and other altcoins surged on the back of the flagship cryptocurrency. Besides, Twitter has recently added a “cashtag” for Shiba Inu, as it did for Dogecoin, ADA and other cryptos as January began.

Little things like this generally contribute to an overall background upon which a token’s price can go up.

Aside from that, SHIB Metaverse hub WAGMI Temple is going to be previewed by the attendees of SXSW 2023 in Austin, Texas, as covered by U.Today.