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Should you buy Shiba Inu (SHIB) in November after the recent spike in activity

By:
on Nov 14, 2022
Updated: Nov 15, 2022
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  • Crypto.com holds 22.91% of its reserves in SHIB.
  • In the last 24 hours, the trading volume surrounding SHIB spiked by 30%.
  • Its value also saw an increase by 42% in the last seven days from its low to high point.

Crypto.com revealed that it holds 22.91% of its reserves in the Shiba Inu (SHIB/USD) cryptocurrency.

W Dubai – The Palm, a five-star hotel, allows guests to pay for accommodation in the SHIB cryptocurrency. 

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Shiba Inu is one of the most popular meme-cryptocurrencies, originally inspired by Dogecoin (DOGE/USD). 

SHIB is an Ethereum (ETH/USD) based altcoin that features the Shiba Inu hunting dog as the mascot.

Broader SHIB adoption as a catalyst for growth

In the latest crypto news, one of the largest cryptocurrency exchanges, known as Crypto.com, has revealed they hold 22.91%of their reserves in the form of the SHIB cryptocurrency.

Data from blockchain analysis firm Nansen showcased the platform holds the largest share, of 29.68%, of its digital assets in the form of Bitcoin (BTC/USD), followed by SHIB.

Crypto.com CEO Kris Marszalek confirmed the data from the dashboard through a tweet.

Luxury Hotel in Dubai known as W Dubai – The Palm allows guests to pay for accommodation in the form of the SHIB cryptocurrency, first announced by Travala.com on Twitter.

As a result of this, SHIB has seen an increase in popularity as well as appeal.

Should you buy Shiba Inu (SHIB)?

On November 14, 2022, Shiba Inu (SHIB) had a value of $0.00000923.

SHIB/USD Chart by Tradingview.

The all-time high of the Shiba Inu (SHIB) cryptocurrency was on October 28, 2021, at a value of $0.00008616. This means at its ATH; the token was $0.00007693 higher in value, or 833% higher. 

When we go over the 7-day performance of the cryptocurrency, Shiba Inu (SHIB) had its low point at $0.00000850, while its high point was at $0.00001207. Here we can see an increase of $0.00000357, or 42%.

Going over the 24-hour performance of Shiba Inu (SHIB), we can see its low point was at $0.00000868, while the high point was at $0.00000937. This marked another increase in value of $0.00000069 or by 8%. 

Investors might want to take up this opportunity to buy SHIB, as we can expect SHIB to climb to $0.000014 by the end of November 2022.

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