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SHIB Crypto Prices Rally as Holders Celebrate Shiba Inu ‘Dropping a Zero’

InvestorPlace - Stock Market News, Stock Advice & Trading Tips SHIB crypto bulls are celebrating an important day for the crypto as it tries to retake its previous all-time high...

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This story originally appeared on InvestorPlace

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

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Shiba Inu (CCC:SHIB-USD) fans are partying it up today. The meme token network is benefiting from a big milestone that puts it on track to reclaim the highs of early summer. The SHIB crypto is seeing some massive gains; meanwhile, investors are taking to Twitter to celebrate “dropping a zero” and to further promote the altcoin’s community.

A close-up shot of a Shiba Inu with a grinning face.
Source: Wollertz / Shutterstock

SHIB, like other altcoins, is worth just a fraction of a penny per token. This is good for investors who are fans of an altcoin community, as they can buy large swaths of the currency for a much lower price than another crypto. And since Shiba Inu has captured a fervent army of holders, it’s quite apparent that many of its investors are stockpiling their holdings; many SHIB investors, bearing Shiba Inu-themed profile pictures, post regular encouragements to others to hold their SHIB through volatile periods, or to buy the dip when possible.

Today’s bullishness comes as SHIB reaches a milestone every altcoin strives for. Thanks to a massive price surge, SHIB is bumping up a full decimal point in value. “Dropping” or “killing” a zero is an event that altcoin fanatics view as a milestone similar to reaching $1, $10, $100 and onward. It’s a baby step in the quest for a more substantial valuation. This morning, SHIB knocked off one of its five zeroes, moving from under $0.000009 to $0.00001.

SHIB Crypto Sees Huge Gains Amidst Push to ‘Drop a Zero’

The “SHIB army” is taking to social media to celebrate their victory. They have in turn gotten both #SHIB and #Shiba trending on Twitter. The hashtags are seeing tens of thousands of tweets, most of which are from SHIB crypto bulls flexing their favorite token’s new, slightly more streamlined valuation. Naturally, SHIB developers are also stoking the flames with cryptic encouragement toward Shiba Inu fanatics:

👀.. Hello #ShibArmy

— Shib (@Shibtoken) October 4, 2021

All in all, the SHIB crypto is chalking up impressive gains, considering they are based on pure momentum. The token is up 24% so far today. Trading volume is up monolithically as well, with the token trading at nearly fivetimes its average daily volume. Mind you, this isn’t an all-time high for SHIB; the token topped out at $0.00003 in early May. Before the token can drop its next zero, it will first have to surpass that all-time high.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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