Will SHIB price reach $1?
Along with the spike in Shiba Inu destruction rate today, discussions are heating up about whether SHIB price will reach $1 in the coming days. Recent Shiba Inu price analysis hints that the meme coin could reach the major $1 level under several conditions.
As of writing, SHIB price is up more than 2% and is trading at $0.00001812, while its trading volume is up 31% to $319.74 million. Additionally, CoinGlass data shows that Shiba Inu open interest is up about 7% today, indicating growing market confidence in the cryptocurrency.
Meanwhile, another recent analysis suggests that SHIB whale activity could be driving strong growth in the cryptocurrency. With this in mind, and with today’s sharp increase in SHIB destruction rate, investors appear to remain optimistic about the future prospects of meme coins
