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Bitcoin is struggling to bounce off $64,500, increasing the possibility of a deeper correction to $60,000.

Some coins from the top 10 list are bouncing back, according to CoinStats.

As SHIB's price performance continues to be weak, bulls start to gather once again.

The cryptocurrency market is attempting a recovery on Wednesday after a week of persistent sell-side pressure that left investors counting hefty losses. CoinGecko data shows a 1.2% increase in the cumulative market cap to $2.487 trillion, reflecting small increases in crypto prices.

Metaverse-centric platform The Sandbox purchased six “major memecoins” in an effort to provide utility to its own users and the wider memecoin collective.

The platform claimed that SHIB has turned into a "global phenomenon."

The Sandbox, one of the most popular metaverse platforms based on the Ethereum ecosystem, has joined the meme coin frenzy with the purchase of six different tokens including DOGE and SHIB.

A recent analytics report published by on-chain data company Santiment reveals “very bullish” data for the two largest meme cryptocurrencies – Dogecoin and Shiba Inu – based on the key metric, the MVRV ratio.

The Sandbox, known for its virtual world fostering creativity and innovation, has significantly expanded its footprint in the Web3 space through the acquisition of several prominent memecoins. This strategic move aims to bolster support for the vibrant communities built around these digital assets while solidifying The Sandbox's position within Web3 culture.

Shiba Inu (SHIB) is currently leading the meme coin rebound push after it waded out of the bearish zone, with a 4.28% surge in the past 24 hours to $0.0000187, per data from CoinMarketCap. This is the first major price uptick the coin has seen since June 7, a trend that suggests the worst days might be over.

Shiba Inu, Cardano, and Dogecoin are positioned to outperform Bitcoin, Ethereum, and XRP, according to a recent report by on-chain analytics firm Santiment. The firm's analysis reveals a favorable outlook for these altcoins, based on their 30-day Market Value to Realized Value (MVRV) metrics.

The top picks for the best meme coins to invest in are becoming easier to find as emerging cryptos offer outstanding features surpassing the industry's OGs. One such coin is Angry Pepe Fork (APORK), which analysts believe is set to outshine the likes of Shiba Inu (SHIB) with its outstanding conquer-to-earn model.

SHIB Price Analysis: SHIB price surged 2.5% in the last 24 hours, potentially as a result of the positive news regarding the SEC dropping investigations into Ethereum. Being ERC20 tokens, Shiba Inu and other meme coins are usually the first to respond to any news affecting their parent blockchain.

Metaverse firm The Sandbox, which combines blockchain technology, virtual reality (VR), and gaming, has announced that it now holds Shiba Inu (SHIB), Dogecoin (DOGE) as well as several other meme coins.

The mysterious leader of the SHIB programming team, who goes by the name Shytoshi Kusama, has made a huge accomplishment. This accomplishment was accomplished by the SHIB programming team.

Shiba Inu (SHIB) gains support from the British Red Cross, enabling crypto donations through the Giving Block. This partnership enhances SHIBs value and broadens the Red Crosss fundraising capabilities, marking a significant step for both parties.

A crypto analyst has shed light on the performance of meme coins and altcoins in the upcoming bull run. He has labeled popular meme-based cryptocurrencies like Dogecoin (DOGE), Shiba Inu (SHIB), and FLOKI, as “Dino Coins,” emphasizing that these tokens could potentially skyrocket during the altcoin season.

Shiba Inu's (SHIB) price lost the $0.000020 major support floor on June 18 as weekly timeframe losses hit 20%, on-chain data suggest more volatility ahead.

Bitcoin has been crushed under selling pressure in the last few hours. The first cryptocurrency is on the verge of losing the $65,000 threshold.

Shiba Inu has received another bullish prediction from a crypto analyst, highlighting the expectations that the meme coin is far from done. This time around, a crypto analyst has predicted a notable surge in the SHIB price, with the expectation that it will reach a new all-time high by the time the rally is complete.

Meme coins, the once-dismissed “joke” tokens, are rapidly solidifying their position in the multi-trillion-dollar scene. According to CoinMarketCap, meme coins now command a cumulative market cap of over $45 billion.

The Shiba Inu burn rate has seen a notable 5,569% spike in the last 24 hours, continuing the positive trend that had begun in the last week. However, this spike in the burn rate comes at a time when the crypto market is struggling, and the price of SHIB has dropped significantly.

As Bitcoin ETFs saw negative flows for three consecutive days, popular meme currencies drowned in a double-digit sorrow.

Shiba Inu's (SHIB) price drop has raised enough concern among investors, and the altcoin is looking to change this.