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Shiba Inu ended the last month on a positive note, posting another monthly gain for the second time this year. After a series of price rallies in the past week, the meme token recorded its strongest performance seen so far in 2024 in April, rising 4.74%, according to CryptoRank data.
The April gain followed Shiba Inu’s break from a long run of declines. In March, the token ended a seven-month streak of steady losses. Between August 2023 and February 2024, Shiba Inu posted monthly losses ranging from -1.58% to -17.6%.
With the new month underway, Shiba Inu was already projecting a 2.41% gain for the month. At the time of writing, it was trading at $0.000006364.
Recent weekly performance suggests that the prolonged market volatility may be easing, with momentum building again. As market sentiment shifts, there is discussion of a potential bull run that could support a larger price breakout for Shiba Inu.
Shiba Inu has also drawn attention due to its integration with SBI VC Trade’s lending expansion in Japan at the beginning of the month. The initiative is intended to expand Shiba Inu’s use cases and adoption, which could support stronger performance during April, with some expectations that the token could trade at higher levels as the month progresses.
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