Why is Shiba Inu price up today? By Cointelegraph

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The price of Shiba Inu (SHIB) is up today amid a broader crypto market upswing and a supportive fundamental factor.

On Aug. 9, the SHIB price jumped nearly 5.75% to $0.00001005, continuing a rebound trend that started two days ago. Overall, the price has reversed approximately 15% from its recent low of $0.0000947.

daily price chart. Source: TradingView
SHIB supply distribution. Source: Santiment
SHIB/USD daily price chart. Source: TradingView
SHIB/USD weekly price chart. Source: TradingView