Shiba Inu Flies 41% Higher Despite Whales' Dump

Shiba Inu SHIB/USD saw a major rebound from last week after newfound enthusiasm over the coin jumpstarted a bull run.

What Happened: According to TradingView data for the Binance SHIB/USDT market, Dogecoin saw an intraday high of $0.00002907 on Monday — 41.25% higher than last week's low of $0.00002058.

Furthermore, Shiba Inu is keeping above the 20 hours, 50 hours and 200 hours exponential moving averages which now act as support for the coin.

When the coin crashed by over 40% on Thursday, the price rapidly readjusted to keep above those supports after dipping under the 20 hours exponential moving average.

See Also: SHIBA INU PRICE PREDICTION 

Google Trends data shows that interest in the coin is skyrocketing once again, as U.S. searches for the "SHIB" keyword in the period starting on Oct. 3 through Oct. 9 are equal to 60% of the all-time high search volume reported from May 9 to May 15. The worldwide trend is nearly as strong, with the same time being equivalent to 54% of the all-time high. The searches seemingly have started rapidly increasing after the period ending on Oct. 2, when search volume was at 6% of the highest value reported.

SHIB Price Action: According to CoinMarketCap data, as of press time Shiba Inu is trading at $0.0000307 after seeing its price increase by over 16.31% over the last 24 hours as of publication Monday.