Shiba Inu Attempts a Rebound With an 8% Surge (SHIB)

Leading meme currency Shiba Inu has surged 8% on Thursday as it attempts to reclaim lost ground. The sudden rise has come as a surprise, as traders seldom thought it could surge in value. The rise is linked to President Donald Trump’s recent statement, in which he revealed that the US is considering buying a “sizeable” amount of Bitcoin.

The announcement made Bitcoin hit $70,000, while Ethereum is close to reaching $2,300. XRP and Solana have spiked nearly 12%, and the overall cryptocurrency market is pumped up. This is why Shiba Inu shot up 8% and is likely to continue going further up today. While prices are heading north, investors’ confidence in SHIB is still in the south.

Shiba Inu is struggling to find takers, and new and first-time investors are hardly interested in the token. The number of buyers has dried up, with no sizeable amount of investment entering its fold. SHIB is now a token of old holders, who are mostly waiting to break even. They are forced to hold on to their bags against their will. The relentless price downturn for three years has eroded all confidence in the token.

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