Shiba Inu has experienced a significant surge in value over the last 24 hours, reaching $0.00002501 with a 9.4% increase from the previous day's low of $0.00002266. This positive momentum has enabled Shiba Inu to recover from losses throughout the week and show a profitable seven-day performance. The surge can be attributed to key developments that took place earlier.

Bitcoin whales took advantage of the market dip on May 1 by strategically purchasing 47,500 BTC at an average price of $59K. This move led to an increase in Bitcoin's price to $63,566, improving market sentiment overall. As Bitcoin recovered, meme-themed tokens such as Shiba Inu saw significant gains, even with a modest 5% increase in Bitcoin's value.

Shiba Inu's recent price increase was further supported by the successful completion of a hard fork on Shibarium, the blockchain associated with Shiba Inu. This upgrade promises faster transactions and more predictable gas fees for users, contributing to the asset's growth.

Furthermore, Shiba Inu's global expansion received a boost with the listing of the SHIB/JPY pair on Binance Japan, allowing Japanese traders to exchange SHIB with their local currency. This listing led to a surge of over 300% to $0.00011 shortly after being listed. Other exchanges, including Kraken, introduced new margin trading pairs for SHIB, expanding its accessibility. Additionally, a partnership between MoonPay and PayPal made purchasing Shiba Inu easier for millions of U.S. residents.

These recent developments, following a decline in Shiba Inu's value, are believed to have contributed to its ongoing upward trend. It's important to note that this information is provided for educational purposes and should not be considered as financial, investment, or legal advice.