Shiba Inu (SHIB) Price Hits 3-Month Peak After Binance Collateral Approval – Can It Flip $0.00001?

Shiba Inu (SHIB) price crossed the $0.000095 milestone for the first time since May 2023. The price bounce came after Binance announced SHIB as an approved collateral asset for loans on the exchange.

Timeline of Shiba-inu

Shiba inu was a notable gainer during Saturday's session, as the meme coin climbed to a three-month high. The move comes as traders continue to react to Binance's decision to approve the coin as a collateral asset, in addition to the upcoming launch of Shibarium. Dogecoin also snapped its recent losing streak today.

Maintaining a declining trend ever since the 2021 all-time high, the Shiba Innu coin price continues to make lower highs. With the early 2023 bull run of 78% forming a new lower high, the Shiba Inu coin price prolonged a downtrend leading to a new bottom formation at $0.00000667.

Shiba Inu Price Analysis: Defying the increasing FUD in the crypto market, the Shiba Inu price showed a significant upsurge in recent days. The uptick could be associated with the listing of Shiba Inu Ecosystem's Token LEASH on the Instant custody-free cryptocurrency exchange StealthEX.

The Shiba Inu (SHIB) ecosystem will make blockchain-based digital identity part of the project's future developments. Shib, the ecosystem's official Twitter account, says that lead developer Shytoshi Kusama is planning to integrate Self-Sovereign Identity (SSI) in all Shiba Inu projects.

In a stunning turn of events, the wallet of beleaguered U.S. crypto broker Voyager was inexplicably enriched with a whopping 7.45 billion Shiba Inu tokens, valued at approximately $60,754. The surprise did not end there, as additional SHIB tokens, worth more than $300,000, had been deposited into the same address just a few days prior.

Shiba inu was one of Friday's biggest movers, as markets reacted to the news that Binance had approved the meme coin as a collateralized asset. The cryptocurrency exchange confirmed that it was adding 22 new loanable and collateral assets to its Flexible and VIP Loan services. Solana was another notable gainer on Friday.

Shiba Inu (SHIB) coin is surging upwards, driven by excitement among meme coin fans for the upcoming Shibarium upgrade. Shibarium is a new and innovative improvement to its blockchain, planned for release this August. This upgrade aims to fix the current issues of slow transactions and network congestion, making the SHIB coin even better.

In a refreshing turn of events for the meme coin market, Shiba Inu (SHIB) is experiencing a significant uptick in its price action. After breaking through the ascending triangle pattern, a bullish sign in technical analysis, the dog-themed cryptocurrency has been in a growth phase, showing promising signs of recovery.

Binance has continued to make significant strides, cementing its role as a crucial player in the market. One of the recent moves involves the addition of 22 new loanable and collateral assets to its Flexible Loan and VIP Loan services, including the meme-inspired cryptocurrency, Shiba Inu.

Binance Pay, the payment infrastructure arm of the leading crypto exchange, has recently joined forces with YesStyle, a major online marketplace for cosmetics and grooming products. This epic collaboration has paved the way for over 300 cosmetics brands on the platform to accept payments in various cryptocurrencies supported by Binance Pay, including the widely popular Shiba Inu token (SHIB).