Shiba Inu’s 30% surge causes a social media sensation

Shiba Inu has become a sensation on social media after registering a surge of about 30% over the weekend. The surge sent SHIB price to a high of $0.00001766 before retracing to its current price of $0.00001575.

At the time of writing, Shiba Inu was still bullish as analysts still predict a further price in the coming days.

To help new investors and traders who are eyeing the coin, Coinjournal has created on why SHIB surged over the weekend while also providing insight on some of the best places where SHIB can be purchased.

To find out more, please continue reading.

What caused the weekend Shiba Inu price surge?

Crypto traders and investors are attaching the SHIB price surge to Shiba Inu’s metric which is showing a rise in the SHIB burn rate. On August 14, when SHIB registered a 27% surge, the burn rate had jumped by 85%. To date, the Shiba Inu network has burned SHIN tokens worth over $6.36 million worth.

Approximately ten days ago, Binance also announced that it had added AVAX and SHIB support on its payment cards issued in Europe thus giving Shiba Inu more exposure to the European market.

We are pleased to announce that @binance has added SHIB to the list of supported tokens for the Binance Card issued in Europe.

You can now pay with SHIB at 60+ million merchants worldwide. Furthermore, get up to 8% cashback and zero annual or FX fees!https://t.co/0Xj7IXPyt0 pic.twitter.com/FqINtnHFWx

— Shib (@Shibtoken) August 5, 2022

Shiba Inu price prediction

A majority of crypto analysts predict a further SHIB Inu price surge in the coming days seeing that SHIB has broken out of a prevailing cup-and-handle pattern. The breakout has raised Shiba Inu’s prospects of registering a further price hike.

The majority are expecting the meme coin to register a 50% surge by September with a price target of $0.00002253.

Best places to buy Shiba Inu

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

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Disclaimer

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy SHIB with Binance today

$SHIB social media trends

JUST IN: Shiba Inu has flipped #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 #ShibArmy! pic.twitter.com/8amWPSbQam

— Shib (@Shibtoken) August 14, 2022