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In the cryptocurrency landscape, Shiba Inu (SHIB) is once again garnering investor attention with a notable price breakout, signalling a potential rally ahead. Following months of consolidation, SHIB's bullish sentiment is primarily driven by recent price action and the broader market trend.
Shiba Inu coin lead developer Shytoshi Kusama nabbed substantial investor attention with his bullish statements surrounding SHIB on Wednesday. The lead developer primarily revealed how the dog-themed meme coin outperforms Bitcoin (BTC), sparking market discussions.
Shytoshi Kusama, the mysterious lead of the Shiba Inu (CRYPTO: SHIB) ecosystem, highlighted the coin's impressive growth since its launch and the work ahead to gain further recognition. What Happened: On Tuesday, Kusama took to X to talk about the SHIB's lifetime growth, which stood at a staggering 33,774,726.7% from its all-time low, higher than those of Dogecoin (CRYPTO: DOGE), Solana (CRYPTO: SOL), and Binance Coin (CRYPTO: BNB).
Shiba Inus daily transaction volume surged to nearly four trillion SHIB, marking a significant increase driven by whale-tier trades. The renewed activity among large holders suggests potential support for SHIBs price, which could prompt upward momentum if sustained.
In a swift market shift, Shiba Inu (SHIB) gained nearly 10% over the last 24 hours after a 39 million SHIB burn ignited fresh momentum. Shibburn reports a 305% surge in the burn rate, fueled by a single large transaction that pushed SHIBs price to new highs, driven by heightened trading.
A new bullish price target has been set for the Shiba Inu price, with an analyst revealing the major trigger that could push this top meme coin to the $0.000081 level. This optimistic price forecast follows recent substantial gains experienced by Shiba Inu, indicating a potential for a major rally.
Shiba Inu appears to be displaying indications of a possible reversal. The asset is currently seeing a notable uptick in whale activity after struggling to regain its previous momentum.
In the ongoing potential bull run, Shiba Inu (SHIB), the popular and the second-largest meme coin is about to end its consolidation and is poised for a massive upside rally. This bullish speculation arises from the coin's positive price action and the continuous attention from investors and traders.
Thanks to a notable accumulation trend, whales have been igniting the Shiba Inu (SHIB) fire.
October hasn't been as positive for cryptocurrencies as expected. Bitcoin and other altcoins have seen unstable prices due to market volatility. With only a few days left in the month, Shiba Inu aims to make a robust breakout as Bitcoin holds above the $70K mark.
As Bitcoin approaches $73K, the top dog crypto Dogecoin leads the way for altcoins, catching short-sellers unawares.
With the market now undergoing a bullish momentum, Shiba Inu whales are flapping their fins in no small measure. The combined market capitalization has jumped by more 6.18% in 24 hours to $2.45 trillion.
Shiba Inu's (SHIB) market cap has surpassed that of Avalanche (AVAX) today, following a 7% price increase in the last 24 hours. This development means that the Shiba Inu crypto now has a market cap of $10.98 billion, making it the 12th most valuable cryptocurrency in the market.
Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) surged, riding Bitcoin's (CRYPTO: BTC) upward momentum past $72,000. What Happened: Coinmarketcap data shows meme coins nearing a $71 billion market cap, up 14.6% over 24 hours.
Shiba Inu could soar by 40% to reach $0.000030 if it closes a weekly candle above the $0.000021 level.
Investors are optimistic once again as the hope of the Ethereum price rallying to $5,000 hit the crypto market. In a recent report, Ethereum co-creator Vitalik Buterin spoke at length about upcoming solutions to Ethereum's (ETH) staking, block production issues, and prevent centralization of proof-of-stake to Ethereum L1.
Canine meme coins Shiba Inu ($SHIB) and Floki ($FLOKI) are rallying in line with the rest of crypto's meme coin sector, which grew 10% in the last 24 hours to post a collective market cap of $67.9 billion. Both Shiba Inu and Floki rose 9% overnight and now retail for $0.00001864 and $0.0001445 respectively.
SHIB has surged by 11% in the past 24 hours, jumping to $0.0000189 after Shiba Inu's team announced a major update for its Shiboshi series of NFTs. The post SHIB Set for Surge? New Shiboshi Updates Spark Investor Optimism appeared first on Cryptonews.
Dog-themed cryptocurrency Shiba Inu (SHIB) has seen a 10% price increase in the last 24 hours, despite a minute 39 trillion SHIB tokens being burned during this period.
Shiba Inu (SHIB) continues to show signs of resilience as it navigates recent market turbulence, which was spurred by a Wall Street Journal report regarding Tether, the issuer of the USD-pegged stablecoin USDT. This news led to a correction across the broader cryptocurrency market, affecting various assets, including Shiba Inu.
"Big things are on the way for Shiboshis on Shibarium, bringing new opportunities and exciting ways to engage," LUCIE said.
As the flagship cryptocurrency Bitcoin has staged an impressive rally and surpassed the $71,000 price level, many altcoins are following suit on the market. Among them is the second largest canine-themed coin, Shiba Inu (SHIB).
Shiba Inu price rose for four consecutive days as Bitcoin and other altcoins soared ahead of the upcoming U.S. general election. Shiba Inu (SHIB), the second-largest meme coin in the industry, climbed to $0.
With the current bullish trend, and the hype around meme coins, here are the top 5 meme coins to watch this week!
