“Reports of the project’s demise were greatly exaggerated,” representatives of the Shiba Inu team commented on the rapid price surge of the meme cryptocurrency, which reached a two-month high. Moreover, the activity on official channels and a weekly performance increase of over twenty-two percent triggered a wave of optimism among market participants.

As trading platform analysts note — “This can be tracked by the surge in trading volumes, which exceeded five hundred million dollars, and the heightened activity of Asian investors.” But they also specified that although open interest in futures rose by sixty-four percent in a week, this does not mean an absence of local corrections amid high speculative volatility.