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A week ago, the memecoin market collapsed as a result of Bitcoin's [BTC] inability to break above the $70k barrier. Of the top five meme coins by market capitalization, only dogwifhat [WIF] experienced a positive price performance over the previous week, according to CoinMarketCap data.
The Shiba Inu blockchain, Shibarium, has seen a dramatic drop in activity over the past 24 hours. As data from Shibariumscan shows, transaction fees collected on this layer-2 blockchain have dropped by 52% in the last 24 hours, from 46.5 BONE to 22.33 BONE.
Shiba Inu's ecosystem token DAMN, aka SOL-killer, has gained substantial traction across the broader crypto market ever since the coin's inception into the digital assets realm. Introduced this year within Shibarium, the L2 network, the DAMN meme coin has promptly emerged as a hot trend across the Shiba Inu community.
Over the weekend, Based Brett became the first meme coin on Base to reach a $1 billion market capitalization.
Shiba Inu was slowly gaining traction on the market and looked like it was positioned pretty well for an upcoming bounce. However, things have changed faster than anyone could have anticipated.
About four years ago, the American government started issuing stimulus checks to help its citizens recover from the economic fallout of the COVID pandemic and related restrictions, and investing this money in various assets, including cryptocurrencies, was among the popular choices.
SHIB has slumped by more than 5% in the past day, while PEPE is down by 8%.
Shibburn data platform has revealed a jaw-dropping increase in SHIB burns that it has observed within the past 24 hours with millions of coins transacted out of circulation.
On the 30th of May, the dormant circulation of DOGE saw a massive spike, which might foreshadow a selling wave.
The Shiba Inu (SHIB) meme coin, known for its canine mascot, has recently captured significant attention in the crypto market due to a massive increase in its token burn rate. According to Shibburn, a platform that tracks the incineration of SHIB tokens, the burn rate saw a remarkable surge of nearly 16,600% on Tuesday, June
Shiba Inu's price reached a critical support level. Here's a look at what SHIB's next move could be.
Shiba Inu, due to its large community, has often been the target of scams due to the trust of the community in the project. As a result, the team has taken to routinely remind the community of multiple scams targeting them, and the latest has come from the admin, Da Vinci.
The DOG•GO•TO•THE•MOON (DOG) cryptocurrency has surged as much as 14% over the past 24 hours.
Shiba Inu (CRYPTO: SHIB) witnessed a significant increase in the past 24 hours burn rate, with traders bullish about its upcoming price momentum. What Happened: Shibburn data noted a spike of 1,441.7% in the burn rate over the past 24 hours, led by a single transaction burning 21.3 million coins around five hours ago.
The Shiba Inu (SHIB) community is bracing for a potential surge as the digital asset shows signs of bullish momentum following a significant price breakout.
Dogwifhat's (CRYPTO: WIF) improving performance prompted bullish price predictions from traders. What Happened: Crypto trader Scient shared insights on a potential swing-long setup for Dogwifhat in a tweet on Monday, highlighting the importance of patience and not chasing the market.
The meme coin ecosystem is blowing up amid a broader recovery in the digital currency ecosystem. The meme coin market has soared by approximately 2.39% in 24 hours to $64,365,653,712.
As the Shiba Inu community keeps removing meme coins from circulation, the SHIB price keeps making attempts to break out.
The Shiba Inu (SHIB) burn rate has significantly declined to begin the new week. The drop in the number of Shiba Inu tokens burned continues to be an issue for the meme coin's ecosystem, and certain factors contribute to this decline.
Pseudonymous trader Unipcs, better known as “Bonk Guy,” predicted a strong week for meme coins, with Floki (CRYPTO: FLOKI) being the most interesting. What Happened: On Monday, Unipcs compared Floki's chart against several other cryptocurrencies, including Tether, Bitcoin, Dogecoin (CRYPTO: DOGE) and Pepe (CRYPTO: PEPE).
The record day last month was May 5 when over 80 million SHIB tokens got destroyed.
Shiba Inu (SHIB) has experienced an unexpected return, with analysts identifying potential buying zones and predicting a looming rally
The increasing fraudulent activities have brought to light one of the core disadvantages of Shibaswap being decentralized in nature.
Shiba Inu has made a substantial return to the market with a bounce off of the 50 EMA, which has been considered a strong support level for the asset. Luckily, SHIB did not let us down and performed the breakthrough many expected from it.
