After a massive crash, Shiba Inu managed to make an impressive comeback today. The price has risen by 40% from the low that was reached yesterday.
SHIB shows strong recovery
Due to the wonderful recovery, Shiba Inu is now the 13th largest crypto coin in the world. The memecoin has overtaken Polygon (MATIC). 1 SHIB token is worth 0.00002346 at the time of writing. This as the SHIB price crashed to a low of $0.00001704 yesterday.
Despite the strong recovery today, the SHIB price is still down 73% from its all time high. Also, the token is still down by 24% compared to last week. According to data from IntoTheBlock, only 39% of SHIB investors are currently making a profit.
SHIB adoption continues to grow
Despite the poor price performance in recent months, there is also a lot of good news to report. For example, crypto exchange Uphold recently announced that it will add SHIB to its platform, meaning another major trading platform is embracing the cryptocurrency.
Earlier this month, SHIB also went live on Indian cryptocurrency exchange Giottus and Mexican cryptocurrency exchange Bitso.