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Despite dropping one position to number #15 of the largest cryptocurrencies, Shiba Inu has been one of the bullish coins in the last few days. Coming into the weekend, Shiba is recording an impressive increase with over 10% growth over the past 24 hours. Shiba Inu is one of the biggest gainers in the market today and could also make better performance over the weekend. With the ongoing development of the Shiba Inu ecosystem, there is a huge potential for the coin to retain this momentum. In fact, with the full launch of the Doggy DAO and more products in the Shiba ecosystem, $SHIB is likely to be one of the best-performing crypto coins in 2022.
2021 was an eventful year for many cryptocurrencies including Bitcoin, Ethereum, Dogecoin, Shiba Inu, etc. However, among the front-running tokens, SHIB scored big in the past year. Besides the long-term gains, the Dogecoin killer also recorded some whopping short-term profits that made investors go berserk. However, things have been dark for Shiba Inu in 2022. The cryptocurrency was fighting against the bearish trend that surmounted the whole market. Fortunately, Shiba Inu managed to break through the odds and recorded impressive growth in March. In the past week, it registered a 20% spike, according to CoinMarketCap data. On the other hand, ShibArmy is also trying its best to bring back SHIB into the spotlight. Constant burnings and newly-added features in the Shiba Inu ecosystem are expected to pump in more value this year. Therefore, investors are already staking up the Shiba Inu token before it could go on a 2021-like rally.
Remarkably, this Shiba rally in 2022 came as a big surprise to many crypto enthusiasts. Although SHIB didn't disappoint the investors despite the bear takeover, the market was not expecting the beginning of the bull run in March. Shiba Inu has now managed to pair up some of the losses made this year and is already above its 20 and 50-day exponential moving averages. Still, it has to keep up the pace to break its temporary resistance level. But according to predictions, SHIB could record a 100% spike this month.
Shiba Inu has introduced 'SHIB', its metaverse initiative. In an effort to compete with Decentraland, the community has unleashed SHIB to form a perceived virtual reality environment. It is aimed to create 'one of the strongest communities ever gathered in all of the crypto's history. Recently, Shiba Inu has made its debut in Netcoins, an online cryptocurrency brokerage that makes it easy to buy, sell, and hold cryptocurrencies in Canada. Besides, fashion brands including John Richmond have announced SHIB and LEASH burns to pump the value of the tokens. Anonymous whales are also purchasing Shiba Inu tokens in large numbers. On 30th March alone, over 621 billion SHIB have been secured by the top ETH whales.
