The SHIB price bursted and has climbed by more than 21% during the early trading hours after maintaining a modest upward trend from the beginning of 2023. In addition to breaking the downward trend line it has been following for almost 5 months, SHIB has emerged as the top token among the top 100 Ethereum whales.

The Shiba Inu is trading above and over 20% in the last 24 hours, according to Coinmarketcap data, with Nansen reporting heaving trading on both centralized and decentralized exchanges. According to Nansen, between January 17 and January 18, SHIB exchanged hands for over $1.1 billion.

As per coinpedia, With further impetus from initiatives such as DAO, Shiba Inu game, Shibarium layer 2, and NFTs, the Shiba Inu price could breach the target of $0.0000259. At the same time, usual buying and selling pressures could take the price to $0.0000185