SHIB surges 14% in a day with Shiba Inu Worldpaper nearing.

The price of the cryptocurrency Shiba Inu (SHIB) is continuing to rise rapidly, with a significant increase in the past week after breaking through the $0.000007 threshold. The price of the token has gone up by almost 20% since then.

There are various factors contributing to this price increase, including exciting project updates. However, the positive social sentiment surrounding the cryptocurrency seems to be the major driving force behind its price.

According to CoinGecko, SHIB is trading at $0.00000839, with a 14% price increase in the last 24 hours. In the past week, the token has performed even better, recording a 25% price jump.

Although the token had been on a downtrend since the beginning of February, it looks set to reach the psychological $0.00001 price level, although it faces significant resistance at $0.0000084. If it manages to break through this threshold, a rally to $0.00001 is then likely.

Shiba Inu currently boasts a market capitalization of more than $4.9 billion and ranks as the 14th biggest cryptocurrency by market cap, according to CoinMarketCap data.

On June 21, the Shiba Inu lead developer published a blog post announcing an impending release of the “Worldpaper”, a document expected to contain the long-term plan for full and complete decentralization, new official partners, and other information. The Worldpaper will be unveiled alongside or just before Shibarium, an upcoming layer-2 network built on the Ethereum blockchain for Shiba Inu.

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