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The prices of cryptocurrencies have soared in 2024, specifically hitting huge gains and some hitting new all-time highs shortly after the 2024 presidential election. One of the hottest cryptocurrencies of late is XRP Token (CRYPTO: XRP) from Ripple.
Shiba Inu (SHIB) is on the radar of traders as a key support level lies just below its current trading range. Notably, this critical support zone represents a point where a massive 88 trillion SHIB was previously accumulated.
Kaal Dhairya, a top developer associated with Shiba Inu (SHIB), has playfully engaged MetaMask, the dominant Web3 wallet provider for the Ethereum ecosystem. In a post on X, Dhairya called out MetaMask regarding a crucial issue related to Shibarium, SHIB's Layer-2 blockchain network.
The renowned dog-themed meme crypto Shiba Inu has again sparked bullish sentiments among traders and investors globally, primarily with its token burn saga. On Saturday, the weekly burn data showed that nearly 3 billion coins were taken from the circulating supply.
A recent tweet issued by the Shibburn tracking platform shows that over the past day, the SHIB community has managed to scorch an impressive amount of meme coins, which exceeds a quarter of a billion SHIB. The majority of this amount was burned in a single move by an anonymous whale.
There is one way Shiba Inu can reach $1, but investors won't necessarily make money.
Blockchain tracker Lookonchain says one savvy crypto trader gained a 10,000,000% profit in less than two years on a Dogecoin (DOGE) and Shiba Inu (SHIB) rival. According to Lookonchain, one anonymous trader turned just $70.40 into $7.06 million in only 20 months by purchasing memecoin Pepe (PEPE) in the early days.
Memecoins market cap hit $140 billion, but top coins like DOGE and SHIB were consolidating at press time.
Shiba Inu price has surged 60% in the past month, drawing significant market attention. Despite minor corrections, the SHIB momentum indicates strong potential for continued growth in 2024.
The meme-inspired cryptocurrency Shiba Inn ($SHIB) has seen its weekly burn rate soar by over 95% to near 3 billion SHIB tokens amid a cryptocurrency market rally that has seen the token's value rise by 64% over the last 30 days. According to data from Shiba Inu burn rate tracker Shibburn a total of 2.
Shiba Inus 250M token burn by the 1 CENT DREAM project is underway, cutting circulating supply and fueling a market frenzy. With Christmas rally anticipation and ecosystem growth, SHIB remains a coin to watch this season.
Bitcoin price trades above $100,000 again, proving that every minor dip is being purchased.
SHIB's breakout, strong burn activity, and mixed on-chain data suggest continued bullish momentum.
Shiba Inu and Pepe have become two of the largest meme coins in the crypto industry, boasting a combined market cap of nearly $30 billion. Pepe (PEPE) trading at $0.
Today, Dec. 6, 2024, Dogecoin (DOGE), the first memetic cryptocurrency, is celebrating its 11th anniversary. Meanwhile, the entire segment of meme coins demonstrates pale performance while its largest representatives are among the top losers.
It is as if the price of the popular meme-inspired cryptocurrency Shiba Inu (SHIB) refuses to fall. This is evidenced by the persistence with which SHIB quotes continue to hold above $0.00003 per token.
The official SHIB marketing expert known under the pseudonym Lucie has taken to her account on the X platform (formerly Twitter) to address the global community of Shiba Inu holders and discuss with them how to protect themselves against fraudulent activities within the cryptocurrency space.
One of the most famous dog themed meme coin Shiba Inu is finding it hard to cross a major resistance. Once it is passed, the memecoin will be one step away from creating a new all time high.
In a bid to uplift market sentiment, Shiba Inu coin's community appears to be preparing for a staggering 250 million token burn. On Friday, a renowned trader within the SHIB community revealed that the 1 CENT DREAM project strives to achieve the abovementioned endeavor.
Why Altcoins Were Skyrocketing in Price This Week
Shiba Inu (CRYPTO: SHIB) has gained momentum in recent day, buoyed by a significant increase in its burn rate and a steady rise in whale transactions. Cryptocurrency Price Market Cap 24-Hour Trend 7-Day Trend Shiba Inu (CRYPTO: SHIB) $0.00003011 $17.7 billion -5.5% +16.5% Dogecoin (CRYPTO: DOGE) $0.4277 $63.2 billion -3.6% +3.8% Pepe (CRYPTO: PEPE) $0.00002115 $8.9 billion -4.3% +4.8% Trader Notes: Traders are optimistic about SHIB's trajectory.
Per a tweet issued by the Shibburn data tracker earlier today, the Shiba Inu community has been able to propel the burn rate up to a significant level over the past 24 hours.
With an incredible 11.39 trillion SHIB in transaction volume over the past day, Shiba Inu has seen a lot of on-chain activity. This increased activity coincides with strong whale movements, which frequently serve as important market drivers for the dynamics of the asset's price.
After a magnificent run, the crypto markets are consolidating as the Bitcoin price drops below $100,000. While the possibility of a reversal remains pretty high, which could re-instigate the bull run. As Bitcoin gains momentum, the memecoin space also follows the trend, specifically Dogecoin & Shiba Inu.
