With a 189% Gain, Shiba Toby (SHBT) Is Today’s Biggest Earner
Crypto token Shiba Toby (SHBT) experienced an incredible price spike yesterday, as it went from $0.000000006917 (SHBT/USD) to $0.00000006996, an increase of more than 900%. Today, the price is down quite a bit from there, at $0.00000001799, but it is still up 189% from 24 hours ago.
Shiba Toby’s Remarkable Price Progression
Shiba Toby launched earlier this year, on January 13th, and it has seen a few price spikes since then. This cryptocurrency shot up 513% on February 16th, achieving a rate of $0.0000006549. The price fell quickly following that spike, though.
There was another spike late last month, which dwarfed everything we have seen from Shiba Toby so far. The price shot from $0.00000001657 to $0.000001116, which was a record-shattering increase of 6,635%. Once again, the price fell quickly back to where it was before the spike.
Yesterday’s price increase was not as significant, but what is significant about it is that the gains were retained for most of the next day, and the price still hasn’t fallen back to previous levels. Shiba Toby has managed to hold on to a nearly 200% increase.
Why Is SHBT So High Right Now?
The answer to Shiba Toby’s incredible price point gain, not just today but also for the other days we talked about in this article, can be attributed to its trade volume. Shiba Toby stands out with these kinds of price hikes, but because the trade volume is only at $95,176 over a 24-hour period, a handful of crypto whales can easily control the entire trade volume.
That means that a few people may hold the majority of Shiba’ Toby’s assets, and if they buy or sell most of what they own, that can drive the rate in one direction or another. We will likely continue to see price changes of this magnitude so long as Shiba Toby has a comparatively low trade volume.
Compared to something like Bitcoin, where trade volume is in the billions of dollars and a price point above $43,000, Shiba Toby is a small fish in a very big sea. It doesn’t take much to affect its course. That makes it a very difficult crypt to predict, and it is tough to advise an investment in this token at this time. There is potential for a lot of gain, but the crypto whales could easily cause any investors to lose their profits quickly if they lose interest in this coin.
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